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Michael Sohor & Co is now known as Tamen Accountants. This is a name change only - we are the same dedicated team, and look forward to serving our valued clients for many years to come.

The current high interest environment can pose expensive challenges for businesses using traditional financing methods.

Bank loans still make sense for some companies; however, there are plenty of alternative finance options.

Being open to innovation and thinking creatively can help businesses access funding while minimising the impact of high interest rates in their financial endeavours.

With all types of funding, however, it is vital to have a strong business pitch to secure investment, as well as a sound understanding of any potential risks and pitfalls.

Peer-to-peer lending

P2P lending websites connect small businesses with smaller scale investors without going through a bank.

Borrowers can benefit from lower interest rates, increased lending opportunities and faster loan approval times when compared to traditional financial institutions.

Angel investors and venture capital

Angel investors provide initial seed money for startup businesses, usually in exchange for ownership equity in the company. It’s sometimes called ‘seed’ funding and you can generally expect to raise anything up to £1 million.

Venture capital firms invest in early-stage companies with high growth potential.

Small business grants

You may be eligible for a government small business grant to cover certain types of expenditure such as cost of premises, plant, machinery and IT equipment.

Crowdfunding

Crowdfunding has emerged as a popular way of accessing alternative funds, especially for startups, growing businesses and creative projects.

By leveraging online platforms, entrepreneurs can reach a broad audience of potential investors who are willing to contribute smaller amounts to support their ventures.

Strategic partnerships

Forming strategic partnerships with other businesses can unlock financing opportunities. These partnerships may involve joint ventures, co-branding initiatives or revenue sharing agreements that can help share the financial burden and leverage each other’s strengths.

Need support or advice with raising finance? We can help.

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Call us on:

01204 391 505

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mjs@tamenaccountants.co.uk

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