EEDA Launches New Help For Businesses Seeking Finance

SMALL BUSINESSES across the East of England are being given a helping hand by the East of England Development Agency (EEDA) to find critical forms of funding and finance during the recession.

Launched today, the new ‘Understanding Finance for Business’ programme has been designed specifically to prepare companies for raising finance —whether through a bank; venture capitalist; business angel or even public-sector grant funding.

It is the latest product to be unveiled in the East of England, offered as part of the Government’s Solutions for Business portfolio. 

Richard Ellis, chair of EEDA, said: ‘It remains a tough time for businesses and raising finance is harder, taking longer than ever, and can often be perceived as a complicated process. EEDA’s new programme is about demystifying the subject; cutting through the jargon and really helping businesses to understand the finance options available to them — and, more importantly, how to secure them.’

After an initial ‘introduction to finance’ workshop, experts will work with businesses to identify which form of finance is most appropriate for them and how they can improve their prospects of securing that funding.  Following the workshops there will be more intensive one-to-one mentoring sessions, where appropriate, and finally the chance to try out presentations before a mock panel of experts.

EEDA is teaming-up with St John’s Innovation Centre, a globally-renowned business incubator, to deliver the programme.

St John’s has developed partnerships across the region to harness a wide-range of experienced advisors, including representatives from the world of bank finance, equity groups and specialist funding streams.

‘Every business will be different,’ Mr Ellis added. ‘Some, for example, may need presentation training to perfect a pitch to an investor. Others may need mentoring to fully prime their business plan for the bank, or simply a push towards a form of finance that they have not considered before. The important factor is that, once they have gone through the programme, every business should know exactly what they need and will be in a stronger position to get it.’

Richard Tunnicliffe, regional director of CBI, said: ‘Time is a precious commodity in business and often companies just don’t have the resources to fully prepare themselves for the rigours of raising finance — something which is so critical for their growth and survival.

‘EEDA’s programme can help with this process, and give businesses in our region a competitive advantage. It’s certainly a welcome addition to the business support landscape in the East of England.’

Demand for the new ‘Understanding Finance for Business’ programme is expected to be high and places are limited.

Businesses are urged to register now.

The East of England Development Agency can be contacted on: 01223 713900.

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  1. […] … (15/06/2009) – EEDA Launches New Help For Businesses Seeking Finance […]

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