smallbusiness.co.uk: Helping your business think big

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Q: I want to expand my business and need to raise £50,000. What are the avenues available considering the banks will not play ball?

Mar 31 2009

Answered by: Clive Lewis Ask a question

Basically, anybody you approach about raising £50,000 will need to be convinced about the viability and future prospects of the business. In the current environment this presents added difficulties.

Whether you are seeking debt finance or an injection of equity (share capital) you will need to prepare business plans including trading, cash flow and balance sheet forecasts. A narrative about the business will also be required. If you are seeking equity finance you will need to give further information on the management of the company and the markets in which the company operates, together with an explanation of the strategy for future expansion.

The businesslink.gov website will help you locate your local Business Link office can give you further advice on the alternatives available to you.

Comments [1]

Comment by Stephen Grice

Sunday 3rd May 2009

You could also try looking at your local CDFI (community development finance institution). You can find a full list of them at www.cdfa.org. They lend where banks won't, but you still need to have a viable business.

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