Access to Funding
Access to Finance
The early stages of a business can quickly drain your finances. 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 crowdfunding has become a viable alternative which also generates interest in your product or business from the outset.
As part of our planning and advice service we can run searches for you on GRANTnet, a national database of grants, funding and loans.
Can the TDA help?
Our advisors can support you 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.