Funding - 05 July 2016

Finance-seeking businesses plan their next business venture at finance workshop

Over 40 small and medium enterprises (SMEs), gathered at a ‘Raising Finance’ workshop today, run by the D2N2 Growth Hub and NBV Enterprise Solutions Ltd.

The workshop looked to help SMEs understand how to better access finance and help their businesses grow. It featured a line-up of expert speakers, including Stephen Grubb, Business Director of Natwest and representatives of Bibby Finance, Nottingham City Council, Minerva, Racefields, EMB Ltd., First Enterprise, the D2N2 Growth Hub and NBV.

The D2N2 Growth Hub, who partnered with NBV to deliver the event, is committed to helping SMEs in its area of Nottinghamshire and Derbyshire to grow. To date it has helped over 1500 people to access support, finance and knowledge to help them realise business ambitions. This is as part of the wider D2N2 LEP mission to grow and nurture its areas economy, with the aim of creating 55,000 new jobs in ten years (2013-2023).

Delegates at the event learnt about a wide variety of topics, including:

  • Grants for enterprise, an overview of what is available and the criteria.
  • An insight into Start-up Loans and Non-bank Lending offers.
  • Grant support from the N2 Business Growth Programme – run by the University of Nottingham and EMB Ltd.
  • The benefits of Crowdfunding – sourcing an overall funding amount from a large number of small donations – and how it can work for business.
  • Investment readiness and the types of factors that angel investors – businesses who invest in other business – look for in a proposition.
  • The British Business Bank and Midlands Engine Investment Fund – a central Government fund set up to help businesses in the East and West Midlands to grow.

The event concluded with a panel session, in which delegates could put forward questions to speakers and a networking session afterwards, giving business owners the chance speak on a one to one basis with the expert.

Speaking after today’s event, D2N2 Growth Hub Adviser Manny Agalamanyi, said:

“Talking with and meeting businesses on a daily basis, the D2N2 Growth Hub is aware of some of the issues faced by SMEs such as raising finance for projects to facilitate growth leading to job creation. Today’s workshop helped the businesses learn about the finance options that are available to them and also helped us as an organisation gain a better understanding of our customers to improve the service we offer.”

Founder and CEO of ICN Geoff Baker -who attended the event – complimented the practical and action-orientated nature of the workshop, saying it was ‘Well worth setting the time aside for”.

He said:

“It was the sort of event where you started to see a multi layered funding strategy, including alternatives, take shape as the morning unfolds – and that’s from someone who takes a keen interest in these matters.  Even if you have met two thirds of the room before, and you know what they offer, seeing everything alongside each other is of real value.”

Business Director of Natwest, Stephen Grubb, added:

“This has been a really exciting morning. We’ve spent time supporting SME’s who are just starting or growing their businesses. Working alongside NBV and some of the other finance professionals we have been able to provide advice on how to take the next step so their business can be even more successful.”

To find out more about the D2N2 Growth Hub, click here

For more information about this release, please contact Sam Burbage, Social Media and Marketing Officer at the D2N2 LEP, on 01159 578254, or by email sam.burbage@d2n2lep.org

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