Understanding Access to Finance
There’s a multitude of business finance workshops out there and a wealth of online resources; but, access to finance remains a key barrier to business start up - and lack of initial investment, a common cause of business failure.
Mastering the art of accessing business finance is clearly a challenge –
The secret? Accessing finance isn’t dependent on just one skill – it relies on a number of elements, including:
- The Business Model
- The Business Plan
- Identifying the right source
- The pitch
Exemplas has delivered a range of business finance provisions over the past decade, developing an innovative, effective and comprehensive bank of tools to support individuals and businesses understand – and access – appropriate funding.
Developing knowledge
Through the government funded ‘fit4finance’ project, Exemplas developed and delivered workshops to support entrepreneurs in reflecting on their business structure – and ensuring that their choice of business model is fit for purpose.
Exemplas’ ‘Access To Finance’ workshops, delivered through Government funding, cover the key skills necessary to write a robust business plan. They’ve been followed up with intensive one to one sessions, delivered by Exemplas’ finance expert, ensuring that the advice is tailored, responsive – and really makes a difference.
Effective Preparation
Raising awareness and covering all the options is next, and a key component in all of Exemplas’ investment readiness workshops. Bringing together representatives from banks, business angels and business support agencies has enabled entrepreneurs to learn about all the options – and access any help required to identify the best fit.
Using role plays and one-to-one coaching, Exemplas has supported entrepreneurs in honing their presentation skills for the ultimate test: the pitch. Through the University of Hertfordshire commissioned ‘UH Angels’ programme, delegates have been cross-examined, coached, critiqued – even placed in front of Ruth Badger and an investor panel – in order to develop the skills required for successful pitching.
A winning formula
In 2008, Haringey Council funded Exemplas to deliver the ‘Growing and Winning in Business’ programme. It brought all these elements - and a panel of experts - together, providing over 120 residents and businesses in Haringey with a comprehensive, effective and highly praised overview of business finance – that promises to make a real difference to their longer term success.