Access to Finance

The early stages of a business can quickly drain your finances. So once the business has been established, it may be time to inject some additional capital into your venture.

It can often be easier to get access to finance for business development, as you already have a proven track record of success with your enterprise. This encourages financial investors to put money into your business, as they can see that there is a greater chance for a return on their investment.

What finance do I need?

You may need a small amount to ‘top up’ your finances. Or you may require more substantial investment to grow your business. The first step is to sit down with a Business Advisor and work out how much you need. You can then plan where the funding will go, and what you will do with it.

Why should I seek additional finance for my business?

Additional finance helps you to:

• Invest in new equipment
• Invest in training and development for your staff
• Take on new staff
• Move to larger premises
• Spend money on advertising and promotion
• Develop your e-commerce business

Where can I get additional finance?

There are numerous opportunities to get extra funding for your growing business. The most common is a bank loan However, in recent times crowd-funding has become a viable alternative to access financing. It also generates a degree of interest in your product or business from the outset. But you need to have strong social media skills to really make the most of funding on sites like Kickstarter, for example.

You can also find out about funding from on GRANTnet too. This is a national database of grants, funding and loans available to new and existing businesses in the UK. At the Torbay Development Agency, we subscribe to GRANTnet, and can carry out searches on your behalf, as part of our planning and advice service.

Can the TDA help?

At the Torbay Development Agency, we can advise you on how to find additional funding for your business. We also have strong links to other business support organisations and networks. So we are well aware of new funding initiatives in the region.

For more advice on growth funding and  to book afree, 1-hour Business Plan health check with our Business Advisors, email us at .