presentation given in February 2012 to cohort of small business owners as part of Manchester Metropolitan University's programme to support small business growth
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financing small business growth
1. What’s on the menu?
financing options for small and social enterprises
2.
3. Traditional sources of cash
•
Equity (dragons and
•
Personal savings angels)
•
Family and friends •
Factoring
•
'sweat equity' •
Retained profits
•
Debt (bank loans,
overdraft) •
Grants
Adrian Ashton
4. social enterprise “specials”
CDFI
Community shares
Social impact bonds
Loan stock
'In-kind'
crowd-funding
Adrian Ashton
5. Do you have the right type of
income?
Adrian Ashton
6. Some problems with grants...
Lead time
Restrictions on use
Cash-flow implications
Admin time/cost in monitoring & reporting
Risk of 'claw back'
Risk to credibility
Adrian Ashton
7. What do you need the cash for?
Dealing with failure ('rebooting' the business)
fashion/credibility
Validation (reassuring yourself)
Set-up
Development
Working capital
Adrian Ashton
8. Why you’re ‘un-fundable’
(you don’t give people what they want...)
• Their money back (loans, equity)
• Financial Return (loans, equity)
• Social Return (grants, loans, equity)
• Outputs & Outcomes (grants)
• Security (loans)
• Partners (grants, loans)
• Exit Strategy (equity)
Adrian Ashton
9. Further sources info & reading
•
Unlocking the potential – a guide to finance
Social Enterprise UK
•
http://www.ncvo-vol.org.uk/sfp
•
http://www.knowhownonprofit.org/funding/social-in
•
Simply Finance Co-operativesUK
Adrian Ashton