Getting funding to launch a business

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  • Getting funding to launch a business
  • randomjeremy
    Member

    Very difficult “in this economic climate” – traditional lenders will want significant surety, and would likely require a large input from yourself. Have you thought about crowdfunding?

    unovolo
    Member

    Kickstarter?

    Premier Icon reluctantlondoner
    Subscriber

    Yep, Kickstarter is definitely being looked at and I’m also starting a massive saving binge. Agreed the climate sucks.

    Premier Icon bigdean
    Subscriber

    We had someone in to talk to the students yesterday, they got a start up grant from the prince’s trust.

    project
    Member

    The Apprentice,

    and also unlikely someone is going to lend money, theyre not lending money to house buyers, even when they get the house back to sell to clear the debt.

    CaptJon
    Member

    I’m out.

    poiu
    Member

    apply to the member companies/networks here:
    http://www.ukbusinessangelsassociation.org.uk/

    specifically try http://www.lbangels.co.uk/ theyre probably the oldest such network

    Also read up on the seis and eis investment schemes. you must make sure your business plan is eligible because the tax breaks are huge for the investor so youll likely be ignored otherwise.

    message me if you want constructive feedback on the business plan without broadcasting it on here.

    good luck – there is a huge amount of investment money out there and even more government matching of funding going on. meaning if you and your idea are good then you will be oversubscribed

    Premier Icon reluctantlondoner
    Subscriber

    I’m wondering if anyone could point me to good sources of info about the reality of raising cash for a business launch. I’m more thinking about how to model the paying back of the money through revenue and standard loan terms.

    I have an idea which would need circa 200k capex and about 100k opex until break even point was reached.

    Happily it would get me out of London. I’m thinking on a two year time scale to get to launch.

    What the idea is not important, I’m just really keen to hear about people’s experiences of gettin g cash and paying it back or negotiating equity etc.

    Thanks.

    LabMonkey
    Member

    Poiu – I am not the OP, but I would be really keen to speak to you about this investment business. If you see this, would you mind sending me an email please? I promise not to take up too much of your time, i just have a few questions. Thanks, Jon

    smudge
    Member

    Get yourself onto one of these courses KICKOFF IN BUSINESS. I went on a couple and best thing I ever did. Ken Horn Fixtures All you need to know and always there should you need him.

    Premier Icon cb
    Subscriber

    OP – is your business novel? If so you could check out the TSB SMART scheme which allows you to progress from market study all the way through to prototype production. TSB Innovation vouchers could also help in the short term although they will just provide £5k for someone else to do some R&D for you.

    There are numerous angel groups around the country although you have to pay to pitch to most. Also check your local university as many have funding to help businesses get off the ground, they do the work and you get the benefit. Think about patent protection if it is novel.

    Premier Icon reluctantlondoner
    Subscriber

    Some great pointers there – thanks everyone. I’m just at the start of this process, so probably a little early to share anything about the idea. However, it is novel – or at least it is a novel combination of two existing businesses/products/services that are growing strongly.

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