Startup Funding Guide - What You Need to Know 2023 (UK)
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- čas přidán 27. 07. 2024
- Getting Start Up Funding for your business can be difficult especially in the current pandemic. The banks are not eager to lend so what can you do to prepare your application? If you are in the UK and have a business start up from home this will be ideal for you.
I chat with Gillian Pickard of Finance For Enterprise on how best to approach potential lenders. Finance for Enterprise is a UK Government backed scheme and they often lend to people that the banks will not.
00:00 - Intro
01:07 - What do you look for in a proposition?
03:15 - What are the most common errors you find in an application?
05:50 - What is the minimum amount you will lend?
07:17 - Are your loans at a set percent or variable?
08:28 - Can you have a capital repayment holiday?
10:12 - Is it a Government backed scheme?
11:12 - What term are the loans over?
11:50 - Are the loans secured or unsecured?
13:24 - What advice would you give to someone looking take a start up loan?
16:15 - How long does the process take?
19:30 - Do you have any general advice?
If you would like to see more of these films please head to our website www.business-questions.com
#startup #startuploans - Zábava
Thank you very much 🙏🏾
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I think the problem in the UK, is that investors unless they see a return within 5 years, are just not interested.
I am in the process of looking at taking an equity loan from business bank of £175,000 which is minor in comparison to what other people are looking for. The investment is specialised, it fills a potentially huge market gap and we would be the first to do it. Any investor potentially could have their money back in year 1 as an example.
It is tech based, it is global, so not a manufactured product or silicon wafers, etc, etc which seems to be the mentality of investment in the UK at present, is invest £60m over 3 stages in a project that requires rare resources and will take more than 5 years to see a return. £60m investment into silicon wafer or microchip manufacturing I think in the long-term is smaller than what we are developing.
But investors in the UK, I dont know what to make of them. We have only just started our journey, we have 25 years business expertise and a great idea, that we know could gain investment from North America, because of the nature of what we are doing, but in the UK, hmmm, I am not confident we will get a UK investor for what will be a business that sits in between Amazon and Ebay. But that is the Brits for you. Anyway, until we are in front of a potential investor, I cannot really say whether an investor will see it or not. Its as plain as day, but again, this is the UK and UK business people to me are difficult to deal with and do not have the mentality of thinking huge or long-term.
Thats the UK's problem, is you dont think long-term, many businesses are just in it for a quick buck and not long-term or have other projects they want to push alongside the main business, etc, etc. We will pull off our plans regardless, but I have a sad feeling it will be North American money invested into it and if that is the case then we will HQ in North America and create thousands of high paid tech jobs their instead of the needy UK which is lagging behind the rest of the World because of your mentality and way of thinking in the UK. It is backwards and you need to change that mentality, seriously, because I think big, like an American and that is the only way to become big, is thinking like them. If everyone thought like a Brit, well then everywhere would have cottage industries and no major global enterprises.
So there is your problem, will you change?. No of course you wont, your British, you know everything right?. Wrong.
so have you moved to NA?
This guy is SUCH an inspiration for many, as we all think that, If He can do it with SOOOOO MANY Alcohol bottles and drunk all the time then anyone can do it.
lmao
Is there any way of getting in contact with this lady directly. I’m currently looking to get a start up loan, she is great at explaining and would definitely speed everything up. Thank You
Hi Gabriel did you manage to contact her?
her name is literally in the description
such a pleasant lady
I tried these lot, they just weren't interested. Furthermore you can't apply for another 6 months
It looks like Gillian has moved on from this company as I checked her LinkedIn and also the Finance For Enterprise website now states loans from 25k-250k, so this video is no longer relevant? Are there any alternatives?