FOLLOWING the success of our recent seminars on the general subject of alternative sources of finance for SMEs, we can announce that the next in the series will take place in Northampton at the end of June. Until now we have concentrated on the various forms of crowd funding which are available to businesses. These are, however, only part of the alternative finance picture.
As we have said before, with the reluctance of the main banks to make finance available to SMEs in anything but the most secure of circumstances, it has encouraged other financiers to enter the market. This includes everyone from the general public to business angels, VCs and even the Government, most recently in the form of the British Business Bank. This finance comes in various forms from loans to equity investment and grants.
While in general terms this is good news for the SME seeking finance, it also raises some unexpected problems. Not least of these is the fact that there are now so many potential sources of commercial finance compared with 10 years ago that it can be difficult for the small business owner/manager to know what alternatives are available and which are the most suitable for a particular business need. The problem can be further complicated by the fact that the more relaxed the lending parameters the higher the lending rate is likely to be.
The purpose of the Business Finance Services seminars is to give the management of SMEs guidance in terms of what the alternatives are and the parameters within which they operate. Details of the next seminar in terms of date, venue and content will be available shortly via the Business Finance Services website www.bufinserv.co.uk and our LinkedIn page as well as in the next edition of Business Times. As previously, this will be a free event to which all are welcome whether potential borrowers, lenders or professional advisors to SMEs.
If you would like to know more about the various services that BFS provides, then call us on 01327 349779 or email but don’t leave it too late! We look forward to hearing from you or to seeing you at one of our future seminars.