New guide to help you find the right finance for business growth
27 Jun 2014 12:43 PM
Sets out
the full range of access to finance options for businesses as they go from
start-up to growth to listing on the stock exchange.
Produced
by British Business
Bank and Institute of Chartered
Accountants in England and Wales (ICAEW), the launch of the Business Finance
Guidecomes the day after the government introduced the Small
Business, Enterprise and Employment Bill which includes measures to
increase the availability and sources of investment for small businesses by
opening up access to small business credit data and to improve larger companies
payment practices.
The guide sets out
the full range of debt and equity finance options for businesses as they
journey from start-up to growth to listing on the stock exchange, and is backed
by an unprecedented 18 leading business and finance organisations. It focuses
on the market as a whole, offering several tools and ideas to help businesses
weigh-up their options, make decisions and plan how they will finance
expansion.
Business Secretary
Vince Cable said:
The business
finance market is going through a period of rapid change with challenger banks,
peer-to-peer lenders and invoice financing gaining traction. But over
two-thirds of small and medium sized firms only go to one finance provider, so
it is important businesses know about the huge variety of options open to
them.
This
newly-published free Business Finance Guide should be essential reading for all
entrepreneurs and directors, and will play a key role in raising awareness of
the different types of finance available to start or grow their
business.
Michael Izza,
ICAEW’s chief executive, said:
Business
investment is forecast to grow by 8.2% this year, up from a previous forecast
of 7.1%, and confidence is at a record high. Companies may be wary of less well
known sources of finance but the Business Finance Guide aims to answer any
questions they have about a wide range of options.