NEW START // ISSUE 6 // 19


GUY RIGBY


to potential investors. You should also consider finding a mentor or non-executive director- someone who has been there or done it before.


There are a number of potential sources of funding for SMEs to consider including: banks, asset based lenders, business angels, or family and friends. For more established businesses venture capital may be available.


Raising finance is not easy, so you may need professional help and advice. Whatever happens, don’t let your advisers write the plan. It’s your baby and you need to understand every word and every figure, even if you have enlisted external help.


Good luck! guy.rigby@smith.williamson.co.uk


Disclaimer - By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication.


GUY’S TOP TIPS WHEN PITCHING FOR FUNDING:


 Identify the purpose and benefits of the required investment


 Be specific about how the monies will be used and how your investors and lenders will get their money back


 Quantify the potential of the opportunities available to the business


 Provide forecasts to cover at least the next three years, together with clear objectives and milestones


 Ensure that your forecasts are based on realistic assumptions


‘HAVING THE RIGHT STRATEGY IS THE FIRST STEP. GOOD IDEAS ARE TWO A PENNY, BUT YOU NEED TO ENSURE THAT THEY SUIT THE MARKET AND THAT YOU HAVE THE RIGHT TOOLS AND MANAGEMENT TO SUCCEED.’


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68