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    A guide to sources of

    Small Business Finance in theWest Midlands

    July 2011

    This publication is intended for general guidance.

    Professional advice should always be sought before entering into a

    financial commitment and no responsibility can be accepted for any

    investment decision made solely on the basis of details of any scheme as

    summarised in this guide.

    Grant and loan schemes are subject to closure or to change at very short

    notice.

    Michael Byrne Business Venture

    July 2011 1

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    CONTENTS

    GRANTS PAGELocal Authority Grant Schemes 4

    Access to Work (Supporting People with Disabilities) 4Heritage Grants 5Tyseley Property Assistance Programme (Birmingham) 5

    Princes Trust 5Carbon Trust 5

    Craft Council 6Benefits and Tax Credits 6

    New Enterprise Allowance 6Energy Saving Trust 7European Funds 7Trade Show Access Programme 7Export Credit Finance Facility 8Grants for the Arts 8

    The Work Programme 8Screen West Midlands 9

    Small Business Rate Relief 9UnLtd (Social Enterprises) 9

    LOANS

    Bank Loans, Overdrafts and Commercial Finance 10

    Aston Reinvestment Trust (Birmingham & Solihull) 10Professional & Career Development Loans 11Black Country Enterprise Loan Fund 11

    Black Country Reinvestment Society 11Cooperative & Community Finance 12Coventry & Warwickshire Reinvestment Trust 12Factoring and Invoice Discounting 12Future Builders England 13

    Impetus (Herefordshire/Worcestershire/Shropshire) 13Michelin Development Fund (North Staffordshire) 13

    North Staffordshire Risk Capital Fund 14Business Tax Payment Support Service 14

    The Princes Trust (18-30s) 14Prime Initiative (Over 50s) 15Royal British Legion (ex-services) 15

    Enterprise Finance Guarantees 15Social Enterprise Loan Fund 16Midlands Community Finance (MCF) (East Staffordshire) 16

    Innovation Networks 16Funding Circle 17

    Thin Cats 17Esmee Fairbairn Foundation Finance Fund (Social Enterprises) 18

    Leadership and Management Funding 18

    July 2011 2

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    EQUITY

    Advantage Business Angels 19Exceed (Midlands Advantage Fund) 19Creative Advantage Fund (Arts/Media/Design) 20Venture Capital 20

    Early Advantage Fund 21Advantage Enterprise and Innovation Fund 21

    Adventure Capital Fund 21Bridges Ventures (Social Enterprises) 21

    Private Investors (Business Angels) 22Investor Networks 22

    Coalfields Funds 23Connect Midlands 23Enterprise Capital Funds 23Mercia Technology Seed Fund 24UK Steel Enterprise 24Invstbx 25

    Islamic Finance 25

    SUMMARY 26

    Preface

    The aim of this guide is to provide a summary of and contact details forcommonly used sources of business finance for small businesses. It is anoverview of those that are most frequently of use to people starting or developinga business or a social enterprise in Birmingham and the West Midlands.

    In 2011 it is more important than ever to;

    Know how much you really need to start or develop a business

    Recognise that you will need to invest your own money in your business if

    you can, before you can raise significant finance from others.

    Appreciate that your business must be sustainable to raise finance

    This guide is compiled from information in the public domain. Schemes aresubject to change at short notice. Databases of sources of finance are available

    via the internet through www.westmidlandsfinance.com and

    www.businesslink.gov.uk

    Most grants and loans are restricted in some way to; limited geographical areas,particular communities, specific business sectors, or particular business activities.Grants are only available in cases of need, and for start-ups are limited to certaintypes of business such as those in the creative sector or social enterprises.

    The fact is that a commercial business or social enterprise can only raise external

    finance if it has a business plan with logical financial forecasts that justify grant

    aid, show they can repay a loan or can reward equity finance with future income.

    July 2011 3

    http://www.westmidlandsfinance.com/http://www.westmidlandsfinance.com/http://www.businesslink.gov.uk/http://www.westmidlandsfinance.com/http://www.businesslink.gov.uk/
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    Michael Byrne

    GRANTS

    (FINANCIAL SUPPORT THAT DOES NOT HAVE TO BE REPAID)

    Local Authority Business Start-up Grant Schemes

    There is pressure on local councils to reduce spending, and many grant schemes

    for start-up businesses have been withdrawn. However, local councils throughoutthe West Midlands still offer financial and non-financial support for new

    businesses. Such schemes often only last for a limited period of time, and aresubject to many eligibility conditions. They are often aimed at reducing highunemployment in urban areas.

    In Sandwell and Walsall there are start-up grants of up to 1,500 and 750respectively.

    Wolverhampton works with partner organisations to provide advice and support.

    Coventry can offer enterprise coaches to guide new businesses. Birminghamoffers help to start-ups through business insight based in the massive centrallibrary. Dudley means business is a series of events promoting enterprise. InSolihull enterprise for success provides mentoring, business review and

    property finding services.

    This is only a very simple overview, and there are other schemes outside of themetropolitan area. Contact the local council in the area in which your business is

    or will be based. Consult the individual councils website and click on businesseconomy or regeneration on the relevant home page.

    Access to Work support for people with disabilities

    Through JobCentre Plus, the Department of Work and Pensions makes available

    help for people with disabilities to overcome practical and financial problems instarting a business.

    In addition to advice and information, JobCentre Plus can pay an Access to Workgrant towards the approved extra business start-up costs that arise from a

    persons disability. These are some of the types of support included are; supportworkers, special equipment required in work, adaptation to premises and extra

    travel costs

    There is no specific limit to the assistance, but an applicant will have to provethat they have a viable business, that the expenditure is necessary over andabove normal business expenses and that they cannot fund it themselves.

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    Contact a Disability Work Adviser at a local JobCentre Plus in the first instance.There is a contact centre for Access to Work in the West Midlands and the

    telephone number is 02920 423291 or text phone 02920 644886 or visitwww.jobcentreplus.gov.uk

    Heritage Grants

    The Heritage Lottery Fund makes available grants for projects that conserve orenhance the UKs heritage, increase participation, access or enjoyment ofheritage.

    Applicants must be not-for-profit organisations, and the minimum grant is50,000Visit www.hlf.org.uk or call 0207 591 6000

    Tyseley Property Assistance Programme (Birmingham)

    This scheme provides financial assistance to SMEs in the Tyseley EnvironmentalEnterprise District in Birmingham to improve industrial premises to meet modern

    business needs, and create new employment. This can include new building work or

    extensions of manufacturing premises, internal refurbishment, land clearance and

    reclamation.

    Grants of up to 100,000 or 50% of costs are available in the grant area. It is not

    available to retail outlets or project costing less than 20,000

    Contact the Tyseley ERDF Regeneration Manager on 0121 303 3692

    The Princes Trust

    The Princes Trust is a nationwide charity that helps disadvantaged young people(Aged 18 to 30) in many ways. The trust concentrates its business support foryoung unemployed people through loans to help start a business (see page 20).However, they can offer Test Marketing Grants of 250 prior to start-up.

    Contact 0121 689 6898 or visit www.princes-trust.org.uk

    The Carbon Trust

    The Carbon Trust is the Government agency that encourages best practice inenergy consumption, and provides businesses with information to review theirenergy needs and reduce consumption.

    The Carbon Trust offers grants for research and development of between 20,000

    and 500,000 to companies developing intellectual property in solutions thatreduce CO2 omissions in the UK. This can help with the production of prototypes,but an only be a proportion of the funding. There is a fast track for small andmicro businesses to enable them to access funds more quickly.

    The Energy Technology List is a list of energy efficient equipment that carry thesignificant tax savings of 100% capital allowances against profits in the year of

    investment.

    July 2011 5

    http://www.jobcentreplus.gov.uk/http://www.hlf.org.uk/http://www.princes-trust.org.uk/http://www.jobcentreplus.gov.uk/http://www.hlf.org.uk/http://www.princes-trust.org.uk/
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    Please consult www.thecarbontrust.co.uk for more details, or call 0800 085 2005

    The Craft Council

    The Craft Council helps preserve crafts and skills that might die out without publicsupport. This means that they can sometimes offer financial help to craftsmen &

    women starting a business.

    The Craft Council Development Award comprises a Maintenance Grant of 625per quarter, and an Equipment Grant of 5,000 or 50% of eligible costs.

    Please contact 0207 278 7700 or www.craftscouncil.org.uk.

    Benefits and Tax Credits

    As a self-employed person you may be able to claim benefits or tax credits,depending on your income savings and other personal circumstances.

    If your income is too low to meet your living expenses you may be entitled toHousing Benefitor Income Support. Contact jobcentreplus on 0800 055 6688 or

    contact your nearest jobcentreplus office via www.thejobcentreplus.info/index

    Working Tax Creditis based on the hours that you work. Nine out of ten familieswith children qualify for Child Tax Credit. It is possible to receive both, and theyare not taxable. The mount you will be paid will be higher if you have more thanone child living with you, you have a partner, you pay for childcare, you have achild living with you who has a disability or you are over 50. The payment alsodepends on your income. You need to claim every Tax Year. Call the Tax Credit

    helpline on 0845 300 3909 or visit www.direct.gov.uk/taxcredits

    If you become self-employed you should consult an experienced adviser, forexample, at a Citizens Advice Bureau (CAB), for help in working out how much

    benefit or tax credit you are entitled to. Visit www.citizensadvice.org.uk or callyour nearest CAB office.

    New Enterprise Allowance

    The Government is introducing extra help to unemployed people who want tostart their own business through the New Enterprise Allowance (NEA). TheAllowance will be available to people who have claimed Jobseekers Allowance(JSA) for more than 6 months.

    Once a person can demonstrate they have a viable business proposition withgrowth potential they will be able to claim financial support which will consist of a

    weekly allowance equivalent to their JSA payments for 3 months, and then halfthat rate for a further 3 months. And if they need start-up capital, they may also

    be able to access a loan of up to 1,000 to help with their start-up costs.

    The scheme is being rolled out across the country throughout 2011. Contactyour nearest jobcentreplus office via www.jobcentreplus.info/index

    July 2011 6

    http://www.thecarbontrust.co.uk/http://www.craftscouncil.org.uk/http://www.thejobcentreplus.info/indexhttp://www.direct.gov.uk/taxcreditshttp://www.citizensadvice.org.uk/http://www.jobcentreplus.info/indexhttp://www.thecarbontrust.co.uk/http://www.craftscouncil.org.uk/http://www.thejobcentreplus.info/indexhttp://www.direct.gov.uk/taxcreditshttp://www.citizensadvice.org.uk/http://www.jobcentreplus.info/index
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    Energy Saving Trust

    Energy costs are a major expense for most businesses.

    Through the Energy Saving Trust there are opportunities to seek financialassistance towards the cost of new vehicle technology. Their database

    contains details of hundreds of energy saving grants and discounts fromgovernment, energy suppliers, retailers and installers.

    Contact 0800 512 012 during office hours or visitwww.energysavingtrust.co.uk

    European Funds

    European funding is provided through the European Commission to helpbusinesses across Europe. To apply for European funding you do not always haveto apply to Brussels or Strasburg, as in many cases schemes and programmesare administered by the UK government or another intermediary like a bank,

    agency or local authority. European funding is often restricted to small or mediumsized enterprise (SME) that employ less than 250 employees and have a turnover

    of less than 36million. Support is restricted to areas of greatest need. The WestMidlands is designated an area of Objective 2 assistance. (2nd highest level)

    The European Investment Bank provides loans to SMEs at less than market ratesof interest. These cannot exceed 50% of the investment cost, and must be atleast 15,000. The European Investment Fund provides funds for venture capitalaimed at new innovative technology companies. This is known as the ETF Start-

    up scheme.

    The European Union provides grants to support (SME) companies with projects to

    develop new products or processes. The project must involve co-operationbetween at least two countries. Grants are generally 50% of costs of major riskyand innovative technological advances in industry or commerce. Details areavailable from the European Programme Information Centre on tel. 0247 6236284 or visit www.epi-centre.org.uk.

    There are many restrictions on who can apply for European funds. For moreinformation see the business link web-site www.businesslink.gov.uk, which gives

    guidance about the types of support available. In addition there is a European

    Information Centre (EIC) details of which are on www.euro-info.org.uk

    UK Trade & InvestmentTradeshow Access Programme

    The Tradeshow Access Programme provides grant funding of between 1,000 and1,800 to small and medium sized enterprises looking to enter export markets toallow them to attend trade shows with other business. This can be valuable for

    start ups seeking support for marketing costs.

    Contact UK Trade and Investment on 0207 215 8000 or visit

    www.uktradeinvest.gov.uk

    July 2011 7

    http://www.energysavingtrust.co.uk/http://www.energysavingtrust.co.uk/http://www.epi-centre.org.uk/http://www.euro-info.org.uk/http://www.uktradeinvest.gov.uk/http://www.energysavingtrust.co.uk/http://www.epi-centre.org.uk/http://www.euro-info.org.uk/http://www.uktradeinvest.gov.uk/
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    Export Supplier Credit Finance Facility

    The Export Credit Guarantee Department offers a facility to exporters to reduce

    the risk of non-payment on overseas sales.

    Through participating banks exporters can access loans at preferential interestrates, enabling them to offer credit for up to 85% of any contract value for up tofive years. The minimum loan is 25,000

    Contact ECGD on 0207 512 7887 or visit www.ecgd.gov.uk and search productsand services.

    Grants for the Arts

    The objective of the Arts Council is to support full time artists and artorganisations. Grants can be made to individuals and organisations that use thearts in their work in England. They can be for research, marketing, newequipment touring, public art and commissioning. They cannot be for generalrunning costs covered by other income, or for self-promotion.

    Grants must be linked to artistic and financial need and future plans. Applicantsneed to demonstrate their previous artistic achievement and submit a detailed

    application form. Funding for the arts has been reduced significantly for 2011.

    Visit www.artscouncil.org.uk or contact Arts Council England (West Midlands) on

    0845 300 6200

    The Work Programme (Self-Employment)

    The Work Programme is delivered for Jobcentre Plus by specialist organisations,

    called providers. The provider will give support to people who have beenclaiming jobseekers allowance for 12 months to find work or in some cases start abusiness.

    The Work Programme may include you taking part in activities like work

    experience, training and further support. The support will be tailored to individualneeds and circumstances. Involvement in the Work Programme will last up to twoyears.

    The Work Programme is mandatory if you have been getting Jobseekers

    Allowance for 9 months if youre aged 18 to 24, or 12 months if youre 25 orover. If you are getting Employment and Support Allowance you may have to

    take part from three months before the date your doctor expects you to be fit forwork unless you are a full-time carer or a lone parent with a child under five. Ifyou have to take part in the Work Programme, Jobcentre Plus will write and askyou to attend an interview.

    For more information see www.direct.gov.uk

    July 2011 8

    http://www.ecgd.gov.uk/http://www.artscouncil.org.uk/http://www.direct.gov.uk/http://www.ecgd.gov.uk/http://www.artscouncil.org.uk/http://www.direct.gov.uk/
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    Screen West Midlands

    Screen West Midlands encourages film and programme making in the WestMidlands by supporting local talent and attracting inward investment. Grantsfrom National Lottery funding can be made to support part of the costs of;

    Digital media projects

    Feature film and short film development

    Running film festivals

    Broadcast projects

    Educational or archive projects

    Contact Screen West Midlands on 0121 265 7120 or visit www.screenwm.co.uk

    Small Business Rate Relief Scheme

    In England small businesses are generally entitled to small business rate relief if

    they only occupy one property and the rateable value of their premises is lessthan 18,000 (25,500 in London). Additional properties with rateable valuesbelow 2,600 are disregarded when considering applications for small businessrate relief. However, the rateable value for such properties is included indetermining whether the threshold criterion has been met.

    The small business rate relief amount of relief depends on the rateable value ofthe property. If this is less than 6,000, the rates are calculated using the small

    business multiplier, which for 2010-11 is 40.7 pence, and reduced by 50 per cent.

    If the rateable value is from 6,000 to 11,999, the reduction decreases on asliding scale of 1 per cent for every 120. For example, if the rateable value is

    9,000, the rates are reduced by 25 per cent. If the rateable value is from12,000 to 17,999 (25,499 in London), rates are also calculated using thesmall business multiplier. For 2010-11, the small business multiplier is 40.7pence (instead of the standard 41.4 pence).

    Previously you had to reapply for small business rate relief at the start of each

    valuation period. You no longer have to do this. If you become ineligible for therelief, you must notify your billing authority. For more information about Small

    Business Rate Relief visit www.businesslink.gov.uk

    UnLtd

    UnLtd provides practical and financial support to social entrepreneurs in the UK.Support is packaged as an award in two levels funded by the MillenniumCommission. Only individuals, not organisations are supported.

    Level 1 awards can be between 500 and 5000. These are designed to help get

    ideas off the ground that will improve peoples lives in disadvantagedcommunities.

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    Level 2 awards can be between 10,000 and 20,000. These are designed tosupport the development of projects that benefit the community.

    For more information visit www.unltd.org.uk or call 0121 766 4570.

    LOANS

    (MUST BE REPAID OVER AN AGREED TIME WITH INTEREST)

    Bank Loans, Overdrafts & Commercial Finance

    Banks provide a range of finance solutions to businesses including; fixed-termloans, repayable with interest over an agreed period of time, and overdraftswhich are designed for short-term finance to cover delays or temporary shortfallsin trading income. Banks continue to be the biggest source of external finance for

    small businesses, despite the recent financial crisis. However, it must be said thatsmall business owners and business groups have reported that it is getting harderfor small businesses to raise business finance from banks.

    An overdraft is permission or the facility to spend more than has been paid in toa Bank Account, up to an agreed limit. Overdrafts carry a relatively high interestrate and charges. Business loans are generally agreed to be repaid over three tofive years. They can be secured against a personal asset like a house. A bank willconsider the viability of the business and the credit history of the borrower.Personal loans are generally made at lower interest rates than business loans.

    Commercial Finance is a term that covers loans, overdrafts and any other form oflending by a bank or private sector finance company. Other sources of finance

    available that are worth considering are; Leasing, Hire Purchase, Factoring andInvoice Discounting.

    Remember that most Banks offer free business banking for a period of as long astwo years, before they charge for transactions. Out of necessity people often fundbusiness start-up costs with personal loans or credit cards, although this isrelatively more expensive. Publicly funded grant and loan schemes insist that youhave approached a bank for a business loan first, before you are eligible for their

    loans.

    Aston Reinvestment Trust (Birmingham & Solihull)

    ART (Aston Reinvestment Trust) is a Community Development FinanceInstitution. Its capital comes from a combination of private and public sectorsources. ART provides loans to start-up and existing small businesses, socialenterprises and the wider third sector. Loans range from 10,000 to 50,000.ART Loans cannot be made to retailers.

    The criteria for ART support are as follows:

    The enterprise must be located in Birmingham or Solihull.

    The proposition must create or preserve local jobs or the local provision ofimportant services.

    The borrower must provide a full, viable business plan.

    The borrower must prove that commercial finance is not available.

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    http://www.unltd.org.uk/http://www.unltd.org.uk/
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    The borrower must become a member of ART.

    Loans are generally made to businesses selling to other businesses.

    Contact ART on 0121 359 2444 or visit www.reinvest.co.uk

    Professional and Career Development Loans

    Through the Young Peoples Learning Agency (YPLA) this scheme provides loansthrough participating banks to help individuals to improve their employment andcareer prospects by undertaking vocational education and training or launchthemselves into a new career or profession.

    Loans can be between 300 and 10,000 at favourable rates of interest to fundany full-time or part-time or distance learning course under two years in length,including practical experience. Whilst studying, the YPLA pays the interest. The

    period of repayment agreed with the bank begins one month after the studyperiod is complete.

    Applicants must be over 18 and live and study in Great Britain. The course mustfurther the applicants career and can only be used for course fees, materials andliving expenses.

    Call 0800 585 505 or visit www.direct.gov.uk

    Black Country Enterprise Loan Fund

    Under this fund, small business loans are available for businesses starting orgrowing in the Black Country districts of Wolverhampton, Walsall, Dudley orSandwell. The usual maximum loan is 5,000 but in exceptional cases the fundcan lend up to 10,000.

    The application process begins with a telephone discussion of the loan proposal.The fund will examine the business plan of any viable small business in the areathat cannot raise all the finance it needs to start or expand from commercialsources.

    Call 07875 199254 or 07875 199262 or visit www.bcelf.org

    Black Country Reinvestment Society

    BCRS assists small businesses in the Black Country that are unable to raisefinance from banks or other sources. BCRS is a Community Development Finance

    Institution that makes loans to start-up businesses, existing businessesemploying less than 250 people and social enterprises.

    BCRS loans are between 10,000 and 50,000 for any legitimate businesspurpose over 1 to 5 years at a rate of interest that reflects the lending risk.

    To download and application form, or for more information, call 01384 342 819 orvisit www.bcrs.org.uk

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    http://www.direct.gov.uk/http://www.bcelf.org/http://www.bcrs.org.uk/http://www.direct.gov.uk/http://www.bcelf.org/http://www.bcrs.org.uk/
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    Co-operative & Community Finance

    This organisation has provided loan finance for Co-operatives, employee owned

    businesses and social enterprises for 30 years.

    CCF lends money for social purposes and collective benefit that has been raisedby a public share issue. It offers business loans under an ethical investmentpolicy financing only projects for the public good.

    Loans are provided over repayment periods up to ten years. They can be forproperty purchase, working capital, fixed asset purchase or to repay existingborrowing. Loan interest rates vary depending on the borrowers circumstances,and can range in size from 5,000 to 50,000.

    New borrowers cannot normally borrow more than 50% of their financial need

    from CCF. Security is sought where available, but not personal guarantees.

    Applications can be made on line, and must include a comprehensive businessplan with financial projections and audited accounts (for existing businesses)

    For more information visit www.co-opandcommunityfinance.coop or call 01179166750.

    Coventry and Warwickshire Reinvestment Trust

    CWRT is a Community Development Finance Institution that makes loans to smallbusinesses and social enterprises in Coventry, Warwick, Leamington, Kenilworth,Rugby and Atherstone. The criteria for lending are; benefit to the community,generating employment and the lack of access to commercial finance.

    Loans can be up to 50,000 over terms of six months to ten years. CWRT doesnot charge an arrangement fee or an early repayment penalty. The rate of

    interest will reflect the circumstances and cost of the loan.

    Visit www.cwrt.com or call 0845 606 6216

    Factoring and Invoice Discounting

    Factoring improves cash flow by releasing funds tied up in unpaid invoices. It canalso maintain a full sales ledger and credit control service for a client business.Ongoing credit checks are carried out to minimise bad debt problems.

    Invoice discounting is similar to factoring but does not include the sales ledger orcredit control function that is left in the hands of the client.

    There is a wide range of financial institutions that provide factoring and invoice

    discounting. Additional advice is contained in www.businesslink.gov.uk.

    July 2011 12

    http://www.co-opandcommunityfinance.coop/http://www.cwrt.com/http://www.co-opandcommunityfinance.coop/http://www.cwrt.com/
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    Future Builders England

    Future Builders is a Government supported investment fund for the voluntary andcommunity sector. FBE provides a combination of loans and grants fororganisations that deliver public services and earn revenue through contracts withpublic sector agencies. It is an important finance vehicle for social enterprises.The finance is designed to improve an organisations ability to deliver public

    services in education, health, or social care.

    The minimum loan is 30,000, and the maximum is 50,000. Loans are chargedat up to 6% interest (variable), and are to be repaid over a fixed term of up to 25

    years. In addition the fund can offer grants if the applicant can demonstrateneed. The grant must be part of a financial package with a larger loan.

    In addition the fund can offer development grants to organisations with potentialto grow, prior to a future loan application. Applications must be made on-line. Anapplication can take three to six months to assess, and if approved applicants

    must draw down their loan within 12 months.

    Visit www.futurebuilders-england.org.uk or call 0191 261 5200

    Impetus (Rural)

    Impetus is a Community Development Finance Institution within the MarchesRural Reinvestment Trust. It supports access to finance for businesses in the ruralcommunities of the Marches, covering Herefordshire, Worcestershire andShropshire

    Business loans of 1,000 to 50,000 can be made to individuals or organisations,and these are repayable over a period of up to five years. Applicants must liveand work in the target area, prepare a business plan and take advantage of

    business support. Borrowers must have tried to use commercial sources offinance to meet their needs.

    Visit www.impetus-marches.co.uk or call 01386 556000

    Michelin Development Fund (North Staffordshire)

    Multinational tyre-maker Michelin sponsors a development fund in NorthStaffordshire. This can provide unsecured loans to SMEs from 5,000 to berepaid over a period of three to five years at Bank of England base rate interest.It is a general requirement that the business owners invest some of their ownmoney in the business. Michelin also offers free business advice to its borrowers.

    Applications from manufacturing or service businesses in Stoke and Newcastle-

    under-Lyme are given priority. The loans can be used for any legitimate businesspurpose that supports job creation.

    July 2011 13

    http://www.futurebuilders-england.org.uk/http://www.impetus-marches.co.uk/http://www.futurebuilders-england.org.uk/http://www.impetus-marches.co.uk/
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    Visit www.michelindevelopment.co.uk or call 0800 057 2007

    North Staffordshire Risk Capital Fund

    NSRCF was set up by local businesses to provide finance for economicregeneration in North Staffordshire. It makes unsecured loans to new andexisting enterprises in the area that have potential for sustainable growth.

    Loans can be from 10,000 to over 50,000 with an option to share in futureprofits. The fund is especially interested in knowledge-based and innovative

    businesses run by experienced management. Applicants must prepare a businessplan, and their application will be assessed by an investment panel.

    Visit www.nsrcf.co.ukor call 01782 266408

    Business Tax Payment Support Service

    If a business anticipates that it will have difficulty in meeting Tax, VAT, NationalInsurance or other payments due to HM Revenue & Customs they can call theBusiness Payment Support Line (open 7 days a week) and HMRC staff will reviewthe circumstances and discuss options including longer time to pay.

    Any such arrangement will not attract additional late payment surcharges, but

    interest on late payments will apply in the normal way.

    If a business wishes to contact this service they must call 0845 302 1435 as soonas possible with; their tax reference, details of payments due and basicinformation about their business income and expenditure.

    The Princes Trust (18-30 years)

    The Princes Trust is a nation-wide organisation operating from 53 area offices

    that has helped thousands of young people successfully set up in business.

    The trust offers loans at preferential rates of interest of up to 4,000 towardsessential start-up costs.

    Criteria:

    Aged between 18 and 30 (inclusive)

    Unemployed or underemployed (i.e. very low paid/casual work)

    Limited funds

    After a loan is made The Princes Trust also offers; a volunteer Mentor to provideadvice and support, European Marketing grants to enable a business to visit other

    potential markets or suppliers abroad, and a subsidised exhibitions programme.

    If you require any further information call on 0121 689 6898or visit www.princes-trust.org.uk

    July 2011 14

    http://www.michelindevelopment.co.uk/http://www.nsrcf.co.uk/http://www.michelindevelopment.co.uk/http://www.nsrcf.co.uk/
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    Prime Initiative (Over 50s) Start up loans

    The Princes Initiative for Mature Enterprise (PRIME) was established by thePrince of Wales to encourage people over 50 years of age to start newbusinesses. It has launched a new loan scheme that offers loans from 500 to10,000 at 12% interest over one to three years to mature entrepreneurs unableto raise all the finance they need.

    These loans are available to people who are over 50 and either; unemployed,facing redundancy or self-employed for less than one year. Borrowers must have

    a UK bank account, have been resident in the UK for three years

    For more information on self-employment at a mature age, contact 0800 7831904 (helpline) or visit www.primebusinessclub.co.uk

    Royal British Legion (Ex Services)

    People discharged from the Armed Forces (including the Reserves) on or after 7October 2001 thinking of starting a small business in the UK, can access the

    Royal British Legion Be the Boss scheme.

    In conjunction with partners the legion can give:

    Training and mentoring in setting up a small business Help with writing business plans

    Help with financial planning

    Funding to help launch and expand the business

    People just starting up can apply for funding of up to 7,500, and can also applyfor funding to grow the business once trading successfully for six months.Existing businesses trading for more than 12 months and less than 24 monthsyou can apply for funding of up to 30,000. Funds are a mixture of grants andloans.

    Access the Be the Boss application form by registering on

    www.britishlegion.org.uk under help with starting a business A helpline isavailable on 0800 678 5787.

    Enterprise Finance Guarantees

    To increase the supply of credit for working capital and investment to small and

    medium sized businesses the UK Government provides guarantees toparticipating banks and other financial institutions to cover 75% of any eligibleloan or overdraft from 1,000 to 1m.

    The decision to make a loan is the responsibility of the bank, which applies for aloan guarantee to the Department of Business, Innovation and Skills. Loans are

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    http://www.primebusinessclub.co.uk/http://www.britishlegion.org.uk/http://www.primebusinessclub.co.uk/http://www.britishlegion.org.uk/
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    made on commercial terms and the borrower pays a premium of 2% interest, andan arrangement fee. For more information visit www.businesslink.gov.uk or

    approach a bank directly.

    Social Enterprise Loan Fund (SELF)

    This is a fund that aims to help charities and social enterprises to grow. These

    are organisations committed to any of the following causes; the relief of povertyor need, education, health, community development, arts, amateur sport, the

    environment

    SELF can provide loans for;

    Property Purchase or Improvements where loans of up to 250,000 can berepaid over 10 years at interest of up to 3.5% over base rate.

    Loans to purchase fixed assets under 100,000 up to 90% of value

    repayable over 5 years at interest of up to 4% over base rate

    Loans for working capital of up to 50,000 up to a maximum of 90% of

    the capital required and repaid over three years at 5% interest over baserate.

    Visit www.tself.org.uk or call TSELF Midlands on 0115 974 6299

    Midlands Community Finance (East Staffordshire)

    Midlands Community Finance (MCF) is a Community Development Finance

    Institution based in Derbyshire that also lends to small businesses and individualsin East Staffordshire. Their primary focus is on Burton on Trent, Uttoxeter, and

    Stoke on Trent.

    Loans made to social enterprises, business start-ups and developing businessesunable to raise commercial finance are between 1,000 and 10,000. Interestrates vary but are around 14% for loans of over 4,000.

    Call 01332 365550 for further details or visit www.fair-finance.net

    Innovation Networks

    A grant is available to networks of three or more SMEs that are innovating newproducts, processes or services that will provide benefits to the West Midlandseconomy. The grant is up to 10,000 and must be matched by the applicant. Itcan be used to part fund any development costs.

    For more information contact Coventry University Enterprise Ltd on 0247 6236391 or visit www.2wm.co.uk/innovation-networks.

    July 2011 16

    http://www.businesslink.gov.uk/http://www.tself.org.uk/http://www.fair-finance.net/http://www.2wm.co.uk/innovation-networkshttp://www.businesslink.gov.uk/http://www.tself.org.uk/http://www.fair-finance.net/http://www.2wm.co.uk/innovation-networks
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    Funding Circle (On-line)

    Funding Circle is a marketplace where established and creditworthy businessescan get lower cost business funding and business loans by borrowing directlyfrom people and communities.

    Established limited companies and limited liability partnerships can apply for

    business loans but they must meet the minimum criteria. Sole traders andpartnerships with 3 or less partners cannot currently get business funding at

    Funding Circle but they hope to allow this later in 2011.

    Minimum criteria:

    The business must have a valid UK bank or building society account

    The business must have at least 2 years filed accounts

    The business must have no outstanding county court judgements of morethan 250

    The business must be based in the UK (excluding the Channel Islands andIsle of Man)

    Funding Circle business loans are 5,000 to 50,000 for 1 or 3 years at a fixedrate of interest. Visit www.fundingcircle.com

    Thin Cats (On-line)

    This website provides an on-line auction market place for business loanopportunities. The lenders decide what interest rate they want forthe risks involved. The only way that a business can get their loanapplication featured in an auction is to attract the support of a"sponsor". Thin Cats provide business loans ranging from 50,000to 3m repayable in fixed monthly instalments over periods

    ranging from 6 months to 4 years or more at competitive ratesdetermined by the marketplace through an auction process.

    Only those applicants that can demonstrate their ability to repay the loan andhave good security to offer lenders are likely to be successful.Lenders get all the information they will need to assess the

    opportunity business before making a bid to lend.

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    To be considered Borrowers must be a limited company based in the UK, havebeen established for several years with a good credit history and

    have a viable plan which demonstrates ability to repay the loanand interest in regular monthly instalments and be able to provideacceptable security that reduces the risks for lenders. Visitwww.thincats.com

    Esmee Fairbairn Foundation Finance Fund (Social Enterprises)

    The Finance Fund aims to complement the Foundations grant programme byfinancing projects or organisations that need investment and have the capacity to

    manage the demands of non-grant funding. By providing money as loans, quasi-equity and other forms of returnable finance, the Foundation will share the risk

    and return of the investment.

    As part of the return on our investment, the Foundation hopes to prove a newmodel for funding the sector: increasing its capacity, building balance sheets andproving that our funding can be recycled.

    The Finance Fund makes loans and other investments into charities and socialenterprises in four areas of grant making interest. At any one time, the fund has

    25-30 investment commitments, and has offered over 14m for charities andsocial enterprises.

    Coaching

    Leadership and Management funding

    The Leadership and Management programme via WM Business Futures Ltd (andits associates) can deliver support to qualifying businesses. The programme canprovide up to 1,000 grant funding on a 50:50 match funded basis, to supportthe Key Decision Maker in a SME organisation for Leadership & Managementtraining, which can include coaching/mentoring.

    Training is broadly broken down into 4 key areas:

    Developing personal leadership & management stylescreating an effective business culture.

    Planning and developing business and teams within itBuilding high performance across the business

    there are certain elements of training that are not eligible, and these includeMandatory training, such as Health and Safety and First Aid at Work.

    The eligibility criteria is for organisations of 2 or more staff, who have growthambitions over the next 2 years. Visit www.wmbusinessfutures.co.uk

    July 2011 18

    http://www.thincats.com/http://www.wmbusinessfutures.co.uk/http://www.thincats.com/http://www.wmbusinessfutures.co.uk/
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    Contact

    30k to 3m over periods ranging from 6 months to 10 years at competitiverates to develop their business

    EQUITY

    (RISK INVESTMENT FOR A SHARE OF FUTURE PROFITS)

    Advantage Business Angels (ABA)

    Entrepreneurs seeking to raise finance can register their proposal for free on theABA website www.advantagebusinessangels.com. Within 48 hours ABA will thenallocate a deal manager to those businesses it feels it can assist, who will thenassess the proposal.

    ABA can develop a funding plan and investment proposal and promote the

    opportunity to over 700 investors via its monthly newsletter, website andpresentation events. Through these introductions, potential investors meet

    entrepreneurs and negotiate the amount of equity finance, and the profit sharerequired.

    When a deal is struck a commission on the finance raised will be charged by ABAto the entrepreneur.

    To register your proposal or find out more about ABA services visit the ABAwebsite on www.advantagebusinessangels.com or telephone 0845 833 0103

    Exceed (Midlands Advantage Fund)

    Exceed (Midlands Advantage Fund) supports growing businesses across the WestMidlands region. The 18 million fund is a joint investment by LloydsDevelopment Capital (LDC), Advantage West Midlands and the European RegionalDevelopment Fund (ERDF) and managed by Midven Ltd in Birmingham.

    The fund can invest between 250,000 and 750,000 into small and mediumsized enterprises across a range of sectors.

    Companies must meet the following criteria:

    July 2011 19

    http://www.advantagebusinessangels.com/http://www.advantagebusinessangels.com/http://www.advantagebusinessangels.com/http://www.advantagebusinessangels.com/
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    Located within the West Midlands or moving there shortly after

    investment.

    Be a micro, small or medium sized enterprise.

    Have growth potential, capable of returning a significant multiple of thefunds investment in three to seven years either by a trade sale or

    flotation.

    Not operating in sectors excluded by European State Aid restrictions.

    Contact Midven on 0121 710 1990 or visit www.midven.co.uk

    Creative Advantage Fund

    Creative Advantage Fund is a Birmingham-based venture capital fund for

    the creative industries. Businesses applying must be based in, or willingto move to, the West Midlands.

    CAF makes investments in SMEs with a view to capital growth. Theirportfolio has included companies in television, film, software, theatre, toy

    design and jewellery. We are currently seeking to make investments ofbetween 75,000 and 150,000 in SMEs based on individual creativity

    and the exploitation of intellectual property.

    Visitwww.creativeadvantagefund.co.ukfor an online expression ofinterest form, or call 07969 141974.

    Venture Capital

    Venture capital is normally only available to companies seeking large amounts ofcapital, usually over 1 million. It involves selling shares in a company to afinancial institution which usually also takes a seat on the board. The originalowner managers often reserve the right to buy back the shares in the future.

    The British Venture Capital Association is the representative body for the UKVenture Capital Industry. They publish material for those looking to raise venture

    capital.

    Contact BVCA on 0207 240 3846 orwww.bvca.co.uk

    Early Advantage Fund

    The 8m Early Advantage Fund provides investment for small businesses within

    the West Midlands region. The fund can make an initial investment of up to

    125,000 if matched by private money, and can invest a further 275,000 inlater rounds.

    July 2011 20

    http://europa.eu/legislation_summaries/enterprise/business_environment/n26026_en.htmhttp://www.midven.co.uk/http://www.creativeadvantagefund.co.uk/http://www.bvca.co.uk/http://europa.eu/legislation_summaries/enterprise/business_environment/n26026_en.htmhttp://www.midven.co.uk/http://www.creativeadvantagefund.co.uk/http://www.bvca.co.uk/
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    The fund is open to high growth start up, early-stage and medium-sized

    enterprises with or without revenues. Eligible companies will initially be raisinginvestment of up to 500,000.

    The fund is part of the Solutions for Business range of publicly funded finance

    programmes and managed by Midven Ltd on behalf of Advantage West Midlandsand further information can be found on www.midven.co.uk or by calling 0121

    710 1990.

    Advantage Enterprise and Innovation FundAdvantage West Midlands has created a venture capital fund specifically for smalland medium sized businesses seeking to finance growth. It is a co-investment

    fund, and can invest between 250,000 and 1million in companies able to raisethe same amount from the private sector.

    The AEIF will support West Midlands companies involved in technologicaldevelopment, innovation, modernisation and diversification. It can provide amixture of equity and loans.

    The fund is managed by Catapult Venture Managers Ltd from their Birmingham

    office, and their investment team examine proposals. Visit www.catapult-vm.co.uk or call 0870 116 3000 for more information.

    Adventure Capital Fund

    ACF invests in organisations that work in and for local communities. It offers

    practical and financial support to help organisations to become self-sufficient andless reliant on short-term grants.

    ACF provides finance to organisations that cannot raise capital elsewhere. Thiscan come in the form of loans, or sometimes gift capital for specific needs.

    The types of investment carried out by ACF are;

    Seed Capital of 25,000 to 100,000 for pre-launch costs or productdevelopment.

    Working Capital of 25,000 to 100,000 to strengthen cash flow

    Major Investments of 50,000 to 400,000 for the purchase of assets

    The investment products of ACF are

    Patient Loans of up to 10 years term with repayment holidays if necessary

    Shared Profit arrangements, that may involve a royalty agreement

    Gift Capital that is not repaid in full, but earns a very specific social return.

    Visit www.adventurecapitalfund.org.uk or e-mail [email protected]

    July 2011 21

    http://www.midven.co.uk/http://www.catapult-vm.co.uk/http://www.catapult-vm.co.uk/http://www.adventurecapitalfund.org.ukl/mailto:[email protected]://www.midven.co.uk/http://www.catapult-vm.co.uk/http://www.catapult-vm.co.uk/http://www.adventurecapitalfund.org.ukl/mailto:[email protected]
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    Bridges Ventures

    This is a major community development venture fund that can buy shares incommunity enterprises with high growth potential. The fund looks for investmentopportunities including early stage expansion finance and management buy-outs.

    The fund invests only in those districts that are considered by the index ofmultiple deprivations to be the most disadvantaged areas of England. It is

    advisable to check if the area of the West Midlands in question is included via theBridges Ventures website. It invests in projects that bring strong social benefits

    in health, education and the environment.

    Contact www.bridgesventures.com or call 0207 262 5566.

    Private Investor (Business Angel Finance)

    Businesses seeking significant capital for expansion frequently look for privateinvestments from individuals or organisations known as business angels. In this

    case the company seeking finance sells a percentage of its shares to an investor inreturn for a cash injection.

    The investor will agree a strategy with the company so that the investor can sellthe shares at a profit in three to seven years. Investors are looking for a return inproportion to the risk of the investment, and stand to lose all their money if the

    company is not successful. It is important to note that private investors will belooking to make a significant investment to make a worthwhile return and this may

    have to be at least 50,000.

    Guidance can be obtained through British Business Angels Association on 02070892 305 or visit www.bbaa.org.uk

    Investor Networks

    Beer & Partners

    Beer & Partners is a venture capital firm that seeks to close the equity gapbetween family capital and financial institutions. They provide a

    wide range of services for businesses seeking investment

    including advice on funding strategy and discreet exposure to alarge register of investors and other contacts, and its website.

    They organise Investment Fairs, where companies can meet 100 to 150 investorsface to face, regularly around the country. These are restricted to30 clients. They can introduce investors directly.

    Telephone 0207 329 4884 or visit www.beerandpartners.com

    Central England Business Angels

    July 2011 22

    http://www.bridgesventures.com/http://www.bbaa.org.uk/http://www.beerandpartners.com/http://www.bridgesventures.com/http://www.bbaa.org.uk/http://www.beerandpartners.com/
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    The Central England Business Angels service is free at the point of entry. Everycompany accepted into the Central England Business Angels

    funding process receives an individual, bespoke service.Assistance where needed will be given to investors andentrepreneurs. Central England Business Angels works incollaboration with other networks and organisations. Upon

    registering, both investor and entrepreneur can request access toa library ofuseful information.

    Central England Business Angels specialises in businesses seeking less than250,000 but has the capacity to raise 500,000. Central England Business

    Angels welcomes investors looking to make tax-efficient investment in SME'sbased in Central England. These businesses are vetted and presented in aninvestor ready form with information enabling the investor to make an earlydecision in principle. Details of the SME will be available on the website so thatinvestors can make investments either as individuals or in a group

    Contact CEBA on 0845 051 3850 or visit www.centralenglandbusinessangels.com

    or email [email protected]

    Minerva

    Minerva raises finance from suitable banks, venture capital funds and theinvestors of Minerva Business Angel Network. They helpestablished businesses raise investment for expansion, andemerging businesses to find funding for start-up and growth.Several client companies are now stock market listed.

    The Minerva Access to Finance programme, launched 1994, is one of a portfolio ofservices provided by University of Warwick Science Park Limited

    For more information contact www.minerva.uk.net or call 0204 7632 3114 oremail [email protected]

    Coalfields Funds

    Coalfields Funds provide finance for growth orientated companies andentrepreneurs in former coalfield areas, or businesses that employ people asignificant proportion of their workforce from designated former coalfield areas.It is open to businesses at any stage of development from start-up to buy-out,

    and the fund can also give business advice and guidance.

    The fund can offer finance in the form of equity or equity related funding from aminimum of 40,000 up to a maximum of 1milliom. This finance may notexceed 50 per cent of the total funding requirement.

    Visit www.coalfieldsfunds.co.uk or for further information call 0870 766 8238

    Connect Midlands

    Connect Midlands is a not for profit network linking high-potential technology

    businesses and entrepreneurs with business training, and access to finance. Its

    July 2011 23

    http://www.centralenglandbusinessangels.com/mailto:[email protected]://www.minerva.uk.net/being-a-business-angelhttp://www.minerva.uk.net/uwsp-access-to-financehttp://www.minerva.uk.net/portfoliohttp://www.minerva.uk.net/about-uwsp-limitedhttp://www.minerva.uk.net/mailto:[email protected]://www.coalfieldsfunds.co.uk/http://www.centralenglandbusinessangels.com/mailto:[email protected]://www.minerva.uk.net/being-a-business-angelhttp://www.minerva.uk.net/uwsp-access-to-financehttp://www.minerva.uk.net/portfoliohttp://www.minerva.uk.net/about-uwsp-limitedhttp://www.minerva.uk.net/mailto:[email protected]://www.coalfieldsfunds.co.uk/
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    specific aim is to help early stage companies to secure equity based finance of upto 5 million through a programme of events and training.

    For more information visit www.connectmidlands.co.uk or call 0247 632 3320

    Enterprise Capital Funds

    Enterprise Capital Funds have been established to enable SMEs to gain access tofinance for growth. These funds invest sums between 250,000 and 2.5m. Thereare 6 funds designed to bridge the equity gap where commercial venture capital

    companies consider the investment too low.

    IQ Capital Fund focuses on technology based SMEs

    21st Century Sustainable Technology Growth Fund focuses on high growthcompanies employing leading edge sustainable technological innovations.

    Seraphim Capital Fund covers all sectors and invests in companies alongsideprivate investors at the early stage of their development.

    Amadeus Enterprise Capital Fund providing seed capital for technologybusinesses.

    Catapult Growth Fund supporting innovation by early-stage businesses.

    Dawn Capital Fund investing in technology-driven companies creating newmarkets.

    Carbon Trust Venture Capital can invest up to 2million in companies developing

    low carbon technology

    For more information visit www.bis.gov.uk or call 0207 215 5000.

    Mercia Technology Seed Fund

    The Mercia Technology Seed Fund is a 12.8 million venture capital fund thatprovides venture capital for early-stage technology start-ups in the West Midlands

    Potential investees must demonstrate their potential for rapid growth and havecompleted the proof of concept stage, but have yet to achieve significant sales

    revenues. In all cases, there must be a strong and demonstrable commercialdemand for the technology under development.

    The Fund will typically make an initial investment offer of between 50,000 and

    250,000 of venture capital, but has the capacity to increase its investment insubsequent stages up to an overall limit of 1 million of venture capital per

    company. Later rounds of financing will usually involve syndication with otherventure capital investors, often from outside of the West Midlands.

    The Fund provides venture capital for technology-based companies that arelocated in the West Midlands and are operating across 5 key technology sectors:

    Medical & Healthcare* Advanced Materials

    July 2011 24

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    * Environmental* Information & Communication Technologies

    * TransportFor more information visit www.merciafund.co.uk or contact West MidlandsEnterprise on 0121 236 8855

    UK Steel Enterprise

    A wholly owned subsidiary of Corus (Tata Steel), UK Steel Enterprise providesfinancial and other support to new businesses in areas that formerly depended onsteel manufacturing for the generation of jobs. With the closure of steelworks,there have been many former steelworkers who now consider self-employment asan option. UKSE can help any small business in former steel-making areas.

    Applicants must provide a sound business plan and be based in, or are relocating

    to, a steel industry operating area. Equity and/or loan finance is available forstart-ups, expansions, acquisitions and buy-outs across many business sectors

    including manufacturing and service related.

    Share capital and share/loan packages are available up to 750,000 on termsindividually negotiated for each investment. Small loans are generally unsecured.Secured loans are available up to 750,000.

    For more information visit www.uksteelenterprise.co.uk or call 0114 270 0933.

    Investbx

    Serving the West Midlands region, Investbx is the first virtual trading platform of

    its kind in Britain. Its purpose is to help small to medium businesses raise capitalfor growth, in exchange for shares. Unlike traditional markets, Investbx raisesfunds for equity on behalf of applicant companies.

    Investbx develops a partnership with companies, investors and advisers. Fromthe outset, each company will work with Investbx to assess whether itis appropriate fro them. The process of issuing shares in return for equity has

    been streamlined and all the documents required to join Investbx andraise equity will be completed by the company and its advisers using an extranet

    facility.

    An admission document will be available to potential investors through the

    Investbx website. Investors will be able to apply for new issue shares directly

    online, or via financial intermediaries. Investbx uses an online auction-drivenplatform as a market for shares of small and medium sized companies.

    An auction-driven platform is widely recognised to be a more appropriatemechanism for trading of stocks in smaller companies, matching buyers andsellers at a single price.

    For more information visit www.investbx.com or call 0121 233 4903

    Islamic Finance

    Under Sharia or Islamic law, making money from money, such as charging

    interest, is usury and therefore not permitted. Wealth should be generated only

    July 2011 25

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    through legitimate trade and investment in assets, and investment in companiesinvolved with alcohol, gambling, tobacco and pornography is strictly off limits.

    The Islamic financial model works on the basis of risk sharing. The customer andthe bank share the risk of any investment on agreed terms, and divide any profitsbetween them. Nearly all the traditional retail banking services expected from

    established High Street banks are available in a Sharia compliant format. TheIslamic Bank of Britain www.islamic-bank.com offers a Sharia compliant current

    account, mortgage and even personal loan.

    HSBC www.hsbc.co.uk offers an Islamic current account and mortgage. A handfulof other banks - including some of the biggest international names and the Middle

    East's biggest traditional banks also offer financial products in the UK tailored forMuslim entrepreneurs.

    SUMMARY

    Many people rely on their OWN FUNDS, or friends and family, to develop abusiness. For others, this is not enough to finance high start-up or development

    costs.

    The main providers of external business finance remain high street BANKS, butthere are schemes and organisations that help self-employed people, socialenterprises and companies excluded from commercial finance. These may offergrants or loans, subject to specific criteria. Some businesses can consider the risk

    finance or equity option.

    This guide has been designed specifically to provide simple information andcontact details for the use of SMALL AND START-UP BUSINESSES and their

    advisers. Although it is updated during the year, please note that schemes in thisguide may run out of funds very quickly and cease to operate.

    In 2011 Government efforts to reduce the BUDGET DEFICIT by cutting publicexpenditure are likely to reduce funding for business support or business financeprojects. Grants will become significantly more exceptional.

    For self-employed people whose business debts are creating a real problem, the

    services ofBUSINESS DEBTLINE are free, independent and confidential. Part ofthe Money Advice Trust, their experienced staff can help with advice on dealing

    with creditors and how to decide which debts take priority for settlement. Theirtelephone number is 0800 197 6026

    A business owner should only decide to take up a loan, grant or investment aftervery careful consideration. A discussion with an experienced business adviser canhelp identify the best funding solution in the long-term interests of the business.Many small businesses fail because they are under financed. Some take on aburden of too much borrowing.

    It is essential to prepare a full BUSINESS PLAN with detailed financial

    projections of future sales, expenses and profits, and a comprehensive marketingstrategy, before applying for finance. Business planning increases the chances ofbusiness survival.

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    http://www.islamic-bank.com/http://www.hsbc.co.uk/http://www.islamic-bank.com/http://www.hsbc.co.uk/
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    Business Venture can provide advice and guidance in Business Planning,Marketing, and Financial Management for start-up businesses.

    Please call 0121 607 1880 for details.

    Michael ByrneSenior Business Adviser

    Business VentureBirmingham Chamber of Commerce

    [email protected]

    Business Venture, Birmingham Chamber of Commerce and Industry,75 Harborne Road, Edgbaston, Birmingham B15 3DH.

    mailto:[email protected]:[email protected]