There are also official agencies whose sole purpose is to hand out money to small firms, often in specially-assisted areas or in niche or technical sectors. The Government offers support in the form of the Small Firms Loan Guarantee Scheme, which underwrites loans by banks and others to small firms which do not have enough security to offer to raise the money they need via a standard commercial loan. If your business is in an Assisted Area or falls under the remit of one of the Single Regeneration Budget programmes, then you may be able to benefit from grants and free professional advice. There are also government grants and assistance available for high-tech or novel startups.
Local authorities can often provide help in the form of grants, premises, advice or loans.
Contact your local DTI office or Business Link to obtain further information on all these schemes. If none of these approaches seems likely to bear fruit, then you will be forced to look to the commercial sector for investment in your business. Inc. All Rights Reserved.