External sources for funding should be carefully considered for their suitability and availability. This will ensure routes taken are the right choice for employers in light of current circumstances and a good fit to employer business plans. Lenders will want to see a clear business proposition and understand your target audience. It is important to do your research, understand all the implications and your responsibilities before deciding on a finance option.
The funding landscape has developed considerably over recent years and there are a lot of options available – some are new and some have been around for some time. Whether you are starting up or growing your business there are many stages during your business journey that you may be looking for funding. The options open to employers can be broken down into two types, repayable and non-repayable.
Repayable finance would be options such as bank loans and specialist lenders, community shares and social investment. Non-repayable finance would be options such as grants, donations and traditional crowdfunding.
For detailed further information on other funding options open to businesses please see the Heart of the South West Growth Hub website. This sets out all the options open to businesses, with thorough explanations and considerations.
Find training and employment schemes for your business
For a range of government programmes that are available for employers and where some of which offer financial incentives, please see here. This sets out each scheme available to employers.