Can anyone supply me with information about any projects or companies that help to fund new businesses, I'm trying to raise the capital to start a new business and i'm not having much look with the banks, I have been told there are services within sheffield that can help supply funds/grants/financial advice to people trying to start a new business within sheffield but i dont no where to start.... :help::help:

what kind of business is it , do you have a business plan ?

Yes of course i have a business plan and a record of the accounts for the business and an estimation of the potential profits for the next year.

try the bigwebsite (can't put the link on here)

depends on your postcode but a good place to start

if it is purely funding you're after, yorkshire business angels might be worth a look

Yes of course i have a business plan and a record of the accounts for the business and an estimation of the potential profits for the next year.

SORRY only trying to be helpful , also how can a NEW business have accounts ?. is it an already established business ?.

Try http://www.senta.co.uk/ or http://www.businesslink.gov.uk

Good Luck:thumbsup:

Don't worry, we had this same problem when starting up and won't lie, it is a nightmare to get funding but it is possible!!! Firstly, the best start is to get a GOOD accountant, not some randomn one but a good firm. They will be quite expensive but a good firm of accountants know all the bank people and all the different options which will be a big help in getting any funding. If you don't have a lot of equity or personal money to put into the business a good option is the government backed SFLG which is a kind of bank loan, some banks don't really wnat to give you this but Natwest and HSBC tend to do it.

The other option as mentioned previously is an Office Angel, this is where a businessman will give you the money BUT he or she will want shares in your business so you will not own the whole business. If all else fails this is one to look at though. But firstly, go get that good accountant and they'll help you no doubt.

Thanks everyone for your input it's been really helpful.. i'll let you know how i get on...

Ta

BB x

SORRY only trying to be helpful , also how can a NEW business have accounts ?. is it an already established business ?.

Sorry i wasn't meaning to come across ''funny'' was just stating i had.. it's a business thats been running for a year so yeh it's fairly new but has a really good weekly income. :thumbsup:

You won't get any money out of senta or yorkshire businesslink.

Try A4E. I think they do that sort of thing.

Can anyone supply me with information about any projects or companies that help to fund new businesses, I'm trying to raise the capital to start a new business and i'm not having much look with the banks, I have been told there are services within sheffield that can help supply funds/grants/financial advice to people trying to start a new business within sheffield but i dont no where to start.... :help::help:

Hi blondie-blue, which area do you live in?

Gleadless ''Da Ghetto'' Valley :hihi: :D

If you are young enough you could try the Princes Trust.

'Try http://www.senta.co.uk/ or http://www.businesslink.gov.uk'

I went down to Senta when I started my research business, it is a very strange organisation, it all appears geared towards the people who are actually working in the place and there are a lot of them. Appointments are all computerised (which didn't work at the time) and the main part of the exercise seems to be getting the client to fill out a form at the end of the interview to say that he has seen an advisor. This appears very important to them, I presume this is so that everyone meets a target and the advisor gets his cash.

I was advised by a guy who I discovered during the course of my interview was in the same business as me and he gave me details of his own company( a competitor), he didn't like my website and suggested some changes,which I thought was fair enough. Anyway I went and looked at the advisors website, it hadn't been touched for years and his business was closed/closing. In fairness though the interview was free.

So I was being advised by a person in the same business as me who couldn't make a go of his own business, how bizarre is that.

All I now get from Senta are mailshots, addressed to someone of a different name at my home address. My personal experience was poor at Senta and if I were starting up again I would try and seek out someone who is successful in the field rather than wasting time with Senta.

I researched this when my business went onto the next stage ie premises and I could not get any help with regards to funding.

I did find RIDO (Rotherham Investment Development Office) as my business is in Dinnington and they were fantastic. They helped me with tons of advice, got me an hour free with a solicitor and accountant. I set up a business plan with their help and was advised on loans with which bank etc. I am also due to get some PR soon and will have a feature in the local papers. All this help was free and very useful.

You won't get any money out of senta or yorkshire businesslink.

What do you want money for no one will give it away without wanting a return.

When you look into it you find several business support agencies out there all offering different services but like I say they all want something back.

Neither Business Link or Senta will give you money they may offer grant funding which is matched in someway (you pay £1000 they may £500) etc.

A good place to start is the bank as they will have business advisers who can help and also discuss funding either by overdrafts or loans.

'Try http://www.senta.co.uk/ or http://www.businesslink.gov.uk'

I went down to Senta when I started my research business, it is a very strange organisation, it all appears geared towards the people who are actually working in the place and there are a lot of them. Appointments are all computerised (which didn't work at the time) and the main part of the exercise seems to be getting the client to fill out a form at the end of the interview to say that he has seen an advisor. This appears very important to them, I presume this is so that everyone meets a target and the advisor gets his cash.

I was advised by a guy who I discovered during the course of my interview was in the same business as me and he gave me details of his own company( a competitor), he didn't like my website and suggested some changes,which I thought was fair enough. Anyway I went and looked at the advisors website, it hadn't been touched for years and his business was closed/closing. In fairness though the interview was free.

So I was being advised by a person in the same business as me who couldn't make a go of his own business, how bizarre is that.

All I now get from Senta are mailshots, addressed to someone of a different name at my home address. My personal experience was poor at Senta and if I were starting up again I would try and seek out someone who is successful in the field rather than wasting time with Senta.

I think your experience of Senta is quite common. I did a course called LEAP about 4-5 years ago and a lot of the people I was on the course with went to see Senta and no one had nice things to say about Senta, the feeling seemed to be that they didn't have real business experience and thought more like beauracrats than entrepreneurs.....

I had a 'consultation' with a guy down there last week after calling to enquire about the Business Essentials course.

I found the session quite valuable and start the course tomorrow, fingers crossed I'll find that useful too! :)

we found senta, really useful, they helped us put a really good business plan together, we raised the cash and our shop is opening next month. We're also going to attend courses there to help us keep our books in order.

I don't think people should grumble so much at a free service

Hi,

I work within a Sheffield Council-led programme called 'BiG - Make it Your Business'. This new business development initiative aims to provide tailored support specifically to people from Sheffield's regeneration (or 'Closing the Gap') areas who have an interest in setting up a business.

My role (as a Neighbourhood Enterprise Champion) is as a first point of contact and continued support for those with an interest in self employment to work through/overcome socio-economic barriers, enabling them to develop their ideas into successful, sustainable enterprises. A large part of what I do is connecting people's ideas with the right opportunities - from specialist business advice to the right training and information as well as advice on accessing finance.

For more information, call the 'BiG' team on 0800 043 5522 or see the website thebigwebsite.org.uk

Hope you found this info useful - Rob.

If you are young enough you could try the Princes Trust.

well if you fancy waiting months and not being told Important Details of Securing a Low cost loan for Your Business then these are for you.

Hi
Have you tried Business Link in Barnsley? They helped me - I used to have a contact there, but can't remember who it was. I've got a number for them in Doncaster though. It's 01302 640100.

Good luck!

Josie Gregory
Freshaire Business Services

Tel: 0114 2330672
www.freshaire.co.uk

If you are a graduate of Sheffield Hallam it is worth looking at the Hatchery for advice and possible funding