Accounting News – Autumn 2021

Funding Options for UK Businesses

After a challenging 18 months, many businesses are now looking at growth opportunities. The good news is that several funding routes remain available in 2021.

Government-Backed Finance

The Bounce Back Loan Scheme has closed, but the new Recovery Loan Scheme provides loans from £25,000 up to £10 million per business, designed to support growth and recovery.

Grants and Local Support

Local councils continue to offer targeted grants, particularly for hospitality, leisure, and tourism sectors. It’s worth checking your local authority website regularly.

Equity and Investment

For businesses with high growth potential, angel investors and crowdfunding platforms remain popular. While this often means giving away a share of your business, it can bring in both finance and expertise.

Traditional and Alternative Lenders

Banks remain cautious, but alternative lenders—including fintech providers—are filling the gap with flexible products such as invoice financing and asset-based lending.

Our advice: Before approaching any lender, make sure your accounts are up to date. Clear, accurate financial information will not only improve your chances of securing funding but also help you understand how much you can realistically afford to borrow.