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Access to finance and funding for your business

Written by Andrew Clark on 13 June 2017

Grow your business by tracking down long-term finance from the public and private sectors. 

Is EEN right for my business?

We’re here to help businesses which are seed and early stage, growing and scaling. 

Looking for start up support?

The Growth Hubs can help.

Enterprise Europe Network helps you make sense of the hundreds of funding and finance opportunities available to innovative businesses which are already up and running. 

 

If that’s you, we can advise on the best ways to gain access to finance and funding from sources such as grants, loans and equity investment as well as through Research & Development tax credits. 

 

As you’re already up and running, we can help you shape your business plan and help you access publicly funded support from regional, national and European programmes. EEN can also put you in touch with the right investors, business angels, venture capitalists and banks.

 

pile of coins

 

Which stage is my business at?

 

Pre-seed stage

 

If this sounds like your business, you have / are...

 

  • Yet to register a business
  • An idea which is not tested or validated
  • Still writing your business plan

 

Contact your local Growth Hub for start up business support.

 

If you’re a seed and early stage business or growing or scaling business, we’re here to help you.

 

Seed and early stage

 

If this sounds like your business, you have / are...

 

  • Technology or a business model that is innovative
  • A company that is between 1-5 years old
  • Modest turnover (£50k to £100k)
  • Building/testing a prototype
  • Undertaking feasibility studies
  • Undertaking customer validation
  • Building a supply chain
  • Seeking early stage and later stage grant funding
  • Seeking 1st round equity funding
  • Seeking international collaboration partners

 

...then R&D funding could be right for you as could business growth funding.

 

Growth and scaling businesses

 

If either of these sound like your business...

 

Growth, you are / have

 

  • Growing turnover (£100k to £5million)
  • Looking to grow 20% year on year
  • Actively seeking new markets
  • Developing an international presence
  • Seeking international collaboration partners
  • Developing additional technologies/products to add to a portfolio
  • Seeking 2nd round equity funding

 

Scale, you are

 

  • Growing turnover (£1million to £100million)
  • Looking to exponentially grow 50%-100% year on year
  • Seeking the right talent to scale
  • Developing leadership capability
  • Implementing processes and infrastructure
  • Seeking finance to scale the business

 

... then business growth funding could be right for you.

 

Struggling with your investment pitch?

 

Having a business at the right stage to secure investment is only half of the battle. If you struggle to deliver a strong and detailed pitch to investors, it’s unlikely you’ll receive the access to finance or funding your business deserves.

 

Thankfully, at EEN we recognise how this can present an issue to business owners. We’ve rolled out a national pitch training programme, Pitchfest, to help business owners develop their pitch and presentation skills - ensuring you can give the best possible snapshot of your business to potential investors.

 

R&D funding (grants)

 

Research and Development (R&D) funding is important for companies that are developing new innovative products, services or technologies. 

 

This type of funding is essential for seed and early stage companies that are undertaking feasibility studies, prototype development and testing.  

 

The main sources of R&D funding come from government grants which support companies to test and de risk ideas without the requirement for repayment.

 

EEN can support your business to identify the right R&D grant funding opportunities and navigate your way through the application process.  

 

We’ve had a vast amount of success supporting businesses in this way. FungiAlert is just one example of this.

 

FungiAlert have pioneered technology that senses plant disease before an infection can take hold, alerting farmers to its presence. It can detect the micro-organisms while they’re alive, in high concentration, in the field. This saves on time between sampling and reporting, while simultaneously producing more accurate results. 

 

Through EEN’s network, the business connected with advisers who helped them secure funding from Innovate UK. This funding was the UK Life & Sciences Grant, allowing them to develop their technology to promote the healthy growth of fungus

 

They then received further help for business innovation from the Innovate2succeed (I2S) programme. This consisted of a review of their marketing activity and helped them implement a business strategy. 

 

Business growth funding 

 

Allowing a business to grow is key to its long-term success. Often this requires an injection of business finance and funding. EEN can help you find new routes to get to this.

 

Seed and early stage

 

  • Introducing basic financial controls
  • Developing a realistic finance strategy to achieve innovation goals and growth ambitions embracing both public/grant funding and private equity funding
  • Develop financial KPIs
  • Maximise the benefit available through R&D tax credits and understanding the relevance of the Enterprise Investment Scheme (EIS)

 

Growth

 

  • Support with 2nd round equity finance
  • Grant funding for collaborative projects
  • Management of cash and working capital

 

Scale
 

  • Leveraging the assets of the company
  • Debt finance
  • Support with innovation loan finance

 

“The Scaleup Programme has been fundamental in getting our heads around what we need to do to grow our business”

 

Martin Leeming, CEO, TrakRap

 

All manners of business have worked with us to scale and grow. This helps companies identify problem areas, access funding and streamline their proposition/model.

 

Find out how we helped packaging company TrakRap below.