Free Advice Achieves Growing Success For Companies Raising Finance
The individuals concerned are part of a team of successful entrepreneurs, investors, former bankers, pitching advisors and sector specialists helping companies that register for the ‘Understanding Finance for Business’ programme which is funded by EEDA and delivered by St John’s Innovation Centre, Cambridge.
The programme offers a combination of workshops, one to one mentoring and pitching (as part of a comprehensive ‘Equity Package’) – all free of charge. It is open to companies in all sectors. Workshops are scheduled up to the end of December 2011.
So far, approximately 1,000 companies have attended one or more of the Understanding Finance for Business workshops and the team has mentored companies that have raised a total well in excess of £1m.
There are regular opportunities to business angels but as pitching companies are selected by the mentors, they need to be in the system to be eligible.
David Gill, Managing Director of St John’s Innovation Centre said:
“Most businesses need funding of some kind or another, particularly in their early years, and a wrong decision can be costly. Understanding Finance for Business offers companies free access to a wealth of experience from people who have ‘been there and done it’. The time, support and advice we offer could cost hundreds of pounds in consultancy fees but it’s offered free because the programme is publicly funded. So this is really a call to action for businesses in the region to sign up now and make the most of the team’s support while it’s guaranteed.
Whether it’s a bank loan, a grant or a more substantial equity investment, we draw on decades of experience. We de-mystify the options, provide hands-on support to help companies make themselves attractive to potential funders and, in some instances secure the opportunity for them to pitch to business angels.”
A rolling programme of workshops is scheduled across the region. The first half-day workshop - "Raising Finance for Business" - gives an overview of different finance options. Follow on workshops focus on specific types of finance (grant, bank, equity). Investment ready businesses are given the opportunity to pitch to business angels. They also benefit from a one-to-one session with a pitching specialist who will help them hone their pitch and a dry-run pitch before they do it for real.
To find out more go to www.stjohns.co.uk/finance.
