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news opinion
There have never been so many options available for people wanting to access money
Individuals and businesses needing funds can, if they search hard enough, find all kinds of bank and non-bank alternatives that are worth considering.
Once there was the bank of mum and dad, or a trip to the bank manager as the only two options available when looking for finance to build a new business or fund expansion.
Now alternatives, whether crowdfunders or peer-to-peer lenders, asset-based lenders or government-supported Local Enterprise Partnerships, are there to help.
Not that the banks have shut up shop. They all state they are “open for business“ and won’t turn away a good prospect, but in truth they are much more cautious than in the past, and will require either more collateral from the customer or a more robust business plan than was previously the case. Often they want both.
However, the good news is there are more banks to choose from. Relative newcomers like Santander and Metro Bank have made the competition in the marketplace more healthy. So-called “challenger banks“ are adding to the mix, and there are always the less mainstream Handelsbanken and Clydesdale options to consider.
So, while growing businesses might moan about a lack of talent in the employment market, or rising energy costs, we are finding fewer and fewer are citing lack of available finance as a brake on their growth plans. If you know differently, we would like to hear from you.
David Murray Publisher
Homegrown snowdome lauded for innovation
Southampton-based Solardome Industries has been shortlisted for the Business Innovation Award 2014 following the design and build of a new dome to enclose a three-story nature house in Norway.
This is a great example of business growth and innovation in the region, as Solardome expands into previously-untapped markets and invests in its future with new products and increased staff.
The contemporary Eden Project-style patent- pending design called ’SOLARDOME PRO’ allows large bespoke domes to be constructed – up to 25m diameter.
Solardome has developed this new architectural system in response to a customer in Norway that wanted to build a three-story family home and garden inside a Solardome glasshouse. The SOLARDOME PRO system, designed and manufactured in the UK, needed to withstand the high winds and extreme snowfall in this northern Arctic location. Completed in the winter of 2013, the 15m diameter, 900m3
dome shell consists of a
robust aluminum frame and toughened single- glazed panels.
Pippa Bailey, managing director at Solardome Industries, commented: “The SOLARDOME PRO system was only possible due to the innovation and dedication of the Solardome team, and we are very proud to be an award finalist.“
Solardome is an area finalist for the ’Business Innovation of the Year’ award in the Federation of Small Business Worldpay UK Business Awards 2014. The national winner will be announced this month.
The family-run business designs and manufactures glass and aluminium geodesic domes for domestic, commercial and educational purposes. The structures provide versatile environments from outdoor classrooms, school greenhouses and research labs; to visitor attractions as cafes, therapy gardens, and butterfly houses; to healthcare facilities as horticultural hubs, activity centres and therapy rooms; and to private homes as luxury conservatories and spa retreats.
The unique geodesic design of the domes provides maximum solar gain, excellent ventilation and airflow and a strong and robust structure.
Details:
www.solardome.co.uk
@TheBusinessMag Business THE M A GA ZINE
www.businessmag.co.uk TM
In the June 2014 issue of The Business Magazine
• Corporate Finance • Legal Focus • Focus on Portsmouth • Women in Business launch
Details: 0118-9766410
sales@elcot.co.uk
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – MAY 2014
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