A new guide produced by the British Business Bank and ICAEW sets out the wide variety of sources of finance available to companies at a time when many are planning major investment. Business investment is forecast to grow by 8.2% this year* and businesses of all sizes should be looking at the increasing number of ways to access finance.
The free publication is targeted at everyone from entrepreneurs to company directors and their advisors, and will be launched today by the Business Secretary Vince Cable at a business summit in Parliament on access to finance.
The launch of the new guide comes the day after the Government introduced the Small Business, Enterprise and Employment Bill which includes measures to increase the availability and sources of investment for small businesses by opening up access to small business credit data and to improve larger companies payment practices.
The guide sets out the full range of debt and equity finance options for businesses as they journey from start-up to growth to listing on the stock exchange, and is backed by an unprecedented 19 leading business and finance organisations. It focuses on the market as a whole, offering several tools and ideas to help businesses weigh-up their options, make decisions and plan how they will finance expansion.
Business Secretary Vince Cable said:
“The business finance market is going through a period of rapid change with challenger banks, peer-to-peer lenders and invoice financing gaining traction. But over two-thirds of small and medium sized firms only go to one finance provider, so it’s important businesses know about the huge variety of options open to them.
“This newly-published free guide should be essential reading for all entrepreneurs and directors, and will play a key role in raising awareness of the different types of finance available to start or grow their business.”
Michael Izza, ICAEW’s Chief Executive, said:
“Business investment is forecast to grow by 8.2% this year, up from a previous forecast of 7.1%, and confidence is at a record high. Companies may be wary of less well known sources of finance but this guide aims to answer any questions they have about a wide range of options.”
Keith Morgan, British Business Bank Chief Executive, added:
“It is vitally important that we support the smaller, growing businesses which are so critical to UK economic growth. The British Business Bank is enabling this through its investments, guarantees and lending programmes, and the Business Finance Guide will be a valuable resource to help businesses make informed choices in accessing the finance they need.”
David Petrie, Head of ICAEW Corporate Finance Faculty, said:
“The guide is supported by 19 partner organisations including ICAEW and the British Business Bank – the first time this and happened. Together they represent over 1 million members.”
Companies are advised to seek expert advice when appropriate for the size, type, structure and corporate finance requirements of the business
Further information can be found at www.icaew.com/bfg
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New Business Finance Guide published by British Business Bank and ICAEW
26 Jun 2014
A new guide produced by the British Business Bank and ICAEW sets out the wide variety of sources of finance available to companies at a time when many are planning major investment. Business investment is forecast to grow by 8.2% this year* and businesses of all sizes should be looking at the increasing number of ways to access finance.
The free publication is targeted at everyone from entrepreneurs to company directors and their advisors, and will be launched today by the Business Secretary Vince Cable at a business summit in Parliament on access to finance.
The launch of the new guide comes the day after the Government introduced the Small Business, Enterprise and Employment Bill which includes measures to increase the availability and sources of investment for small businesses by opening up access to small business credit data and to improve larger companies payment practices.
The guide sets out the full range of debt and equity finance options for businesses as they journey from start-up to growth to listing on the stock exchange, and is backed by an unprecedented 19 leading business and finance organisations. It focuses on the market as a whole, offering several tools and ideas to help businesses weigh-up their options, make decisions and plan how they will finance expansion.
Business Secretary Vince Cable said:
“The business finance market is going through a period of rapid change with challenger banks, peer-to-peer lenders and invoice financing gaining traction. But over two-thirds of small and medium sized firms only go to one finance provider, so it’s important businesses know about the huge variety of options open to them.
“This newly-published free guide should be essential reading for all entrepreneurs and directors, and will play a key role in raising awareness of the different types of finance available to start or grow their business.”
Michael Izza, ICAEW’s Chief Executive, said:
“Business investment is forecast to grow by 8.2% this year, up from a previous forecast of 7.1%, and confidence is at a record high. Companies may be wary of less well known sources of finance but this guide aims to answer any questions they have about a wide range of options.”
Keith Morgan, British Business Bank Chief Executive, added:
“It is vitally important that we support the smaller, growing businesses which are so critical to UK economic growth. The British Business Bank is enabling this through its investments, guarantees and lending programmes, and the Business Finance Guide will be a valuable resource to help businesses make informed choices in accessing the finance they need.”
David Petrie, Head of ICAEW Corporate Finance Faculty, said:
“The guide is supported by 19 partner organisations including ICAEW and the British Business Bank – the first time this and happened. Together they represent over 1 million members.”
Companies are advised to seek expert advice when appropriate for the size, type, structure and corporate finance requirements of the business
Further information can be found at www.icaew.com/bfg