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Start up business funding

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Start up business funding

  1. 1. Start-Up BusinessAccess to Cash and Kind Yvonne O’Donovan
  2. 2. Yvonne O’Donovan• Why me?MusicMediaArtFoodOil n ShipsElectricsBuildings
  3. 3. Yvonne O’DonovanThe main blockage to you starting up is notAccess to cashAccess to supportLack of ideasMaking lossesNO: The main barrier to success is YOU
  4. 4. Yvonne O’DonovanCompany A• Over-confident, under-disciplinedCompany B• My mates are great, who needs to write stuff downCompany C• Over-reliant on others to tell us what to do,• Not strong enough to say no to the money• The piper calls the tune
  5. 5. Yvonne O’DonovanIdeas People WhatFor who How Where QualityMoney Materials Equipment£££ $$$ Stock Buildings
  6. 6. Yvonne O’DonovanFinance (Money/Cash/Dosh/Investment)Sources (where from)1. Yours2. Your family3. Your friends4. Your neighbours/community/area5. Your town/village/city6. Your region/nation7. Your continent8. The universe
  7. 7. Yvonne O’Donovan• Finance (money/cash…etc.)Types• Loans• Shares• Investments• Grants• Gifts or Donations
  8. 8. Yvonne O’Donovan• FinanceFor what?Capital (Premises, Equipment … )PeopleProduct Development
  9. 9. Grants: eligibilityThere are a number of factors which could affect your eligibility for a grant.1. Location2. Size of your turnover or the number of employees. Many grants are limited to small or medium-sized enterprises - typically those with fewer than 250 employees.3. Your industry4. The purpose of the grant (Grants are often awarded for a specific purpose such as purchasing machinery, improving offices, increasing employment or developing export markets. Grant bodies prefer to see specific targets and results, compatible with their own objectivesAs well as making an assessment of the benefits of your project, the awardingbody will expect a high level of commitment from you and your business and forthe project to be commercially viable
  10. 10. Yvonne O’DonovanSupport for specific groupsThere are other organisations aimed directly at specific groups to help with businessand funding support, for example:1. Women : Prowess gives details of all womens business support organisations by region.2. Mature people : The Princes Initiative for Mature Enterprise (PRIME) is an organisation aimed at assisting entrepreneurs over the age of 503. People with disabilities : The Disabled Entrepreneurs Network has produced a booklet called Setting up in Business: A Resource guide for disabled people and their advisers. This includes information about tax, the Access to Work scheme, business planning, courses, grants, finance and working from home. To get a copy, send an email to info@disabled-entrepreneurs.net. Disability charity Leonard Cheshire and easy Group chairman Sir Stelios Haji-Ioannou run an annual award for an exceptional disabled entrepreneur. See the Leonard Cheshire Disability website.
  11. 11. Yvonne O’Donovan1. ethnic minorities - the Asian Business Network (ABDN) helps minority ethnic (ME) businesses to develop, by sharing best practice and improving opportunities. The African Caribbean Business Network (ACBN) helps African and Caribbean owned businesses in the UK2. young people - if you are aged between 18 and 30, the Princes Trust Business Programme may be able to help you with a low-interest loan. Shell LiveWIRE Grand Ideas Awards offer up to five £1,000 prizes a month to the most innovative and unusual ideas submitted by young entrepreneurs aged 16-30 with new businesses in their first 12 months of trading3. You can also consider applying for a Professional and Career Development Loan to help improve your business skills before or after starting up a business. This is available to anyone and is a deferred repayment bank loan aimed at financing the training and qualifications that will help individuals further their career or business.•
  12. 12. WebsitesOther Useful Sites:www.j4bgrants.co.ukwww.uktiyh.org.ukwww.businesslink.gov.ukSmarta.comBusinessballs.comMindtools.comAcas.org.ukwww.mbdltd.co.ukwww.keynote.co.ukwww.direct.gov.ukwww.hmrc.govNeighbourhood.statistics.gov.ukwww.entrepreneur.comwww.ipo.gov.uk
  13. 13. Yvonne O’Donovanyvonne@ambel.co.uk

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