Government backed support and finance for your business can be found here.
- The Start Up Loans Company is a government funded scheme set up to provide advice, business loans and mentoring to start-up businesses
- There are first year business start-up allowances from HM Revenue and Customs
- Job CentrePlus offer the New Enterprise Allowance to help unemployed people start their own businesses. Support includes access to a volunteer business mentor who will provide guidance to help develop a business plan and advice through the early months of trading. Once an applicant has a viable business plan there are options for accessing some modest financial support.
The most suitable finance option for your business depends on many things, including:
- how much funding you need
- your current business revenue or if you’re a new business
- whether or not you’re willing to offer personal assets as security – this can make it easier to get funding but is risky if you’re not able to maintain payments
- whether or not you own a business property – this can make it easier to get funding
- whether or not you’re willing to sell shares
Learn more about the different types of business finance.