Archive for July, 2012

Still looking For Business Funding? Try a CDFI.

If you are trying to get a start up business off the ground and you are struggling with raising finance because o lack of security or a poor credit record, you could try contacting a CDFI (Community development Finance Institution).

These bodies specialise in lending money to social enterprises, sole traders and small businesses struggling to raise funds in the usual manner.  They also work closely with deprived communities by offering affordable loans and financial support to those unable to raise funds elsewhere.

Indeed, according the CDFA website 82% of the loans made by CDFIs last year went to microenterprises, a large proportion of which were sole traders. So if you are struggling to get your business off the ground you could do worse than to look at a CDFI.

If you want to know more why not check out the CDFA website or contact me on martin.parry@mgba.co.uk

MGBA website

Businesses Not Accessing Available Export Funding

According to BExA, The British Exporters Association demand for Government export finance products fell by £600 million over the past financial year. Use ofthe Government’s credit support package for exporters fell from £2.9 billion to £2.3 billion.

In addition, targeted support for small and medium-sized exporters, including working capital and foreign exchange support, has been used by just 18 firms.

Hugh Bailey of BExA said UK Export Finance “has not been as agile” as equivalent schemes in other countries in providing credit facilities for exporters.

More information on export finance martin.parry@mgba.co.uk

http://www.mgba.co.uk

British Exporters Association

So it wasn’t the banks after all!

The latest Open University quarterly survey of SMEs in Britain reveals that finance is not the major problem facing businesses after all.  According to their survey 40% of entrepreneurs cite the economic climate and lack of demand as their biggest problem.  Only 5% of SME leaders blame lack of access to finance and interest rates as their biggest problem.

What do you think?  Reply to this blog and let us know your biggest business problems,

Read the survey in full: http://www8.open.ac.uk/business-school/files/business-school/file/publications/quarterly-survey/2012_Q2.pdf

Send your comments below or email me on martin.parry@mgba.co.uk

http://www.mgba.co.uk


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