Throughout 2017 we profiled the many business finance sources. Part one is here, part two is here, part three is here, part four is here, part five is here, part six is here and part seven is here, part eight is here and part nine is here. Today we're publishing the 10th and final part.
UnLtd is a charity offering financial awards and ongoing practical and networking support to social entrepreneurs. It is the largest organisation of its kind in the UK.
UnLtd offers funding for entrepreneurs at different stages of the funding cycle; from idea through to capital growth. Investing comes in the form of Do It and Grow It Awards.
The charity states: "UnLtd operates a unique model by investing directly in individuals and offering a complete package of resources; from awards of funding to ongoing advice, networking and practical support."
The British Venture Capital Association (BVCA) describes venture capital funding as: "a form of equity finance. Venture capitalists (VCs) invest their money in early-stage, innovative and often high-risk businesses. In return, they gain a share of equity.
"Businesses typically seek venture capital because they have a limited timeframe in which they need to scale to meet an opportunity. By foregoing a share of equity, they can obtain both the financial and strategic means to enable accelerated and sustainable growth."
This makes the point that venture capital funding is only appropriate for companies that are high risk and fast growth. If that’s you, you’ll want to acquaint yourself with the terms used and funding stages followed.
You can find information on that on the BVCA website. Venture capital firms include Balderton, Octopus, Hoxton Ventures, Passion Capital and Index Ventures. Many have sector specific funding themes, i.e. if you fit in their sector, you're more likely to appeal to their funding criteria.
- Finding investment overview
- Balderton Capital
- Octopus Investments
- Hoxton Ventures
- Passion Capital
- Index Ventures
Maybe your business needs funds for 'working capital', i.e. an injection of cash to tide you over from one order to the next. If so, consider options such as iwoca, which is a play on the words 'instant working capital'. It’s fast turnaround, short-term funding that enables business owners to purchase stock and keep the business moving.
Investment decisions are rapid as iwoca has developed a tool to assess risk based on the company’s trading data. The loans go up to six months with interest of 3-7% per 30 days on the outstanding balance. There are no admin or early repayment fees, only interest which accrues daily.
Another option (for PayPal merchants only) is PayPal Working Capital which offers "a maximum cash advance amount based on your PayPal sales and account history, and is typically up to 15% of your annual PayPal sales, to a maximum of £60,000."
Show me the money 2017 supported by:
Show me the money returns in 2018 supported by: