How to bridge the knowledge gap to access the right funding
With thanks to the British Business Bank, below is a quick info-graphic regarding the funding available to SME's.
It is vitally important that an SME plans its funding for the long term, as knee-jerk reactions to funding (via friends, family or Angels) can create longer term issues for larger scale future investments.
Below is a quote provided by Lewis at B-B-B:
“The British Business Bank Finance Hub is designed to help businesses understand the financial landscape and ultimately access the right finance for their growth potential. It’s an independent, impartial digital hub designed to raise awareness of the different types of finance available for growing UK businesses. Explore finance options and find funding to suit your business.”
"Businesses are just under prepared for investment"
However, lack of knowledge is not the only reason companies fail to raise money... I have covered previously that the quality of the information supplied to investors is still very poor and businesses must address this lack of understanding and preparation before making that first approach.
For help with your business preparations, contact me at firstname.lastname@example.org