Funding for Growing Businesses in Birmingham
What are the options if you are looking for funding for a growing business in Birmingham, UK? The key to success is to have everything in place, prior to meeting investors. As small business growth experts, The Oakwood Partnership has helped many SMEs with turnovers ranging from £1 to £20 million to thrive and prosper. We are the go to firm for ‘becoming investment ready’, before we introduce clients to investors.
A key challenge faced by growing businesses is securing adequate funding to support their expansion plans. In this article, we will provide you with tips and ideas for businesses in Birmingham and the surrounding area, to help you to navigate the funding landscape and drive the growth of your business.
Explore Government funding opportunities
The Government offers various funding programmes to support growing businesses in Birmingham. Initiatives vary over time and The Oakwood Partnership has the knowledge and contacts to help you to position your enterprise in the right way, should you decide to request Government funding.
Consider business grants
Business grants are a non-repayable source of funding that can provide a significant boost to your growth plans. Birmingham City Council for example, offers a range of grants and funding schemes for local businesses. The council’s website (www.birmingham.gov.uk) is a good starting point. Additionally, the National Lottery Community Fund and the Arts Council England offer grants for businesses in specific sectors such as arts, culture and community development.
Venture Capital and Angel Investors
If your business has a high growth potential and requires substantial funding, venture capital firms and angel investors could be sources of capital. In Birmingham, a number of firms specialise in funding startups and growing businesses. The Oakwood Partnership has long standing connections in this area.
Crowdfunding platforms
Crowdfunding has emerged as an innovative way to raise funds for business growth. Platforms like Crowdfunder and Kickstarter allow businesses to showcase their ideas and attract investment. By offering rewards or equity, you can incentivise potential investors to support your business. Visit www.crowdfunder.co.uk and www.kickstarter.com to learn more about crowdfunding opportunities.
Business support organisations
Birmingham is home to several business support organisations which provide advice and guidance, as well as access to funding opportunities. For instance, the Greater Birmingham Chambers of Commerce can help you to navigate the opportunities for funding growing businesses in Birmingham.
Networking and industry events
Attending networking events and industry-specific conferences can open doors to potential investors and funding opportunities. Birmingham is well known for hosting business events, such as the Midlands Expo and the Birmingham Black Business Show.
The world-famous National Exhibition Centre (NEC) and the Birmingham Conference and Events centre bring business visitors from the UK and internationally into the city. Search for event listings and calendars online to ensure that you don’t miss out on relevant opportunities.
Conclusion
Securing funding for your growing business in Birmingham can be challenging, however with the right information and contacts, it is more likely to happen. By exploring Government programmes, grants, loans, venture capital and other sources of funding, you will be well positioned to make the right decision about funding for your growing business in Birmingham.
The Oakwood Partnership provides advice, funding and support for growing businesses in Birmingham. If you would like to find out more, Let’s talk! 01789 867686
See also:
Advice for a growing business
How to become investment ready
Stratford-Upon-Avon business advice