Investor-readiness scheme will help businesses bounce back

Understanding Finance for Business is a new ‘investor-readiness’ programme which will help to ensure that as many businesses as possible recover quickly from the current economic downturn. Under the scheme, businesses with the potential for high growth will be helped to prepare for future financing needs.

Which sectors are eligible?

Applications are welcomed from all sectors.

Why might a business need to be ‘investor-ready’?

Some businesses will develop quickly as the recession eases, but they may outgrow their financing ability simply because they don’t have the skills to attract investment. This scheme helps businesses to avoid hitting this brick wall by improving their awareness of how and when to attract finance.

How does it work?

The programme encourages firms to work with experts who have grown their own businesses. They will develop skills such as how to construct their better business plans, so that they are better equipped to attract the necessary finance to achieve. The programme offers:

• a series of workshops providing skills useful in accessing finance
• specialist provision for businesses with complex financial needs
• free one-to-one coaching for up to 5 days training, to help businesses pitch, influence people and network, thus increasing the likelihood of successfully obtaining investment
• a facility to introduce businesses who are ‘investor-ready’ to investors.

What will the scheme achieve?

Participant companies will not only understand finance better, but will know how to get the best finance available for their business. One of the main hurdles for small firms is not just that banks may be unwilling to invest in them, but that the companies are unable to put a viable business plan together (they may have sound business ideas, but are often unable to articulate them).

Want to know more?

Find out more about the Understanding Finance for Business Programme by contacting Business Link Yorkshire.