New funding opportunities announced at business finance event

Businesses throughout Stoke-on-Trent and Staffordshire discovered more about new and existing types of finance available to them to support future growth last week.     The Stoke-on-Trent and Staffordshire Enterprise Partnership held a free Finance for Business event in which financial experts summarised key forms of finance available to local businesses and answered questions to help clarify which types of finance are appropriate for business needs.

Two new funds were announced at the event;  Staffordshire and Black Country Business Innovation Centre (BIC) provided information on small business grants including a new fund available within the Stoke-on-Trent and Staffordshire LEP area while Minerva Business Angel Network talked about its funding for rapid expansion, including business angel investments.  The two new grants are part of the Stoke-on-Trent and Staffordshire Growth Hub which supports local businesses and is funded by the Regional Growth Fund.

The event informed, raised awareness and helped overcome misconceptions of the models and sources of funds available to small and medium-sized businesses.    Businesses and financial intermediaries were also able to network and seek further information within an exhibition area or through more thorough one-to-one discussions with specific funders.

Of the event, David Frost, chairman of the Stoke-on-Trent and Staffordshire Enterprise Partnership, had said: “We want to ensure our small businesses get all the backing they need to be a success, help boost our economic growth and create jobs. There are many varied sources of finance available to small and medium sized businesses and it can sometimes seem quite overwhelming to distinguish what funding is right for them. Our event will clearly present the funding options and provide an opportunity for businesses planning to expand and develop their operations to have that one-to-one discussion on taking their growth plans forward.”

The LEP supports everybody from sole traders to finance directors at small and medium sized businesses in addition to business support intermediaries, accountants and financial institutions.

Anyone wishing for further information contact business@staffordshire.gov.uk.

For a summary of business finance delivered by Paul Heaven of Blue Sky Corporate Finance Ltd, please follow this link.