Funding, Finance and Finding a Start-up Cash Injection
A surprising number of finance options to get your start-up off the ground How do you really
New Business
get your business
going when you’re limited by cash?
That’s the pivotal
question facing so many start-ups
coming to the Business & IP Centre (BIPC) Sussex. Some might have
savings, some have friends or family
who can help, but without real financial support, their business could remain a hobby or just a dream.
Which is why it’s so gratifying when our BIPC team can instantly inform people of the many financial options open to
both new and existing small businesses, for free! The only real question is, which direction is best for that business. So where do you start?
34 www.sussexbusinessgroup.co.uk
Step 1
textbooks on bookkeeping to get a
Write a business plan and know your
handle on things.
money, but it often comes from not
Step 2
online, or on the high street? Are you a
financial dependents or extra pressures
cash flow! Lots of start-ups worry about knowing your numbers. Are you operating
On Universal Credit, benefits, or have
sole trader, or do you have a team?
to take into consideration? Look up your
When you sit down with one of the
(previously Money Advice Service) and
plan, your costs and revenue will be
self-employed might affect your benefits.
Business Model Canvas, as it’s very
Gov.uk for information on Help with
situation on the Money Helper website
BIPC team to work on your business
find out if having two jobs or becoming
considered. We recommend using the
If you’re on Universal Credit, head to
straightforward and clear way to plan
moving from benefits to work, including
your business.
assistance for the first 12 months.
Then use our COBRA database’s
Step 3
writing a cash flow to really know your
carefully. What suits one person will
the figures? Borrow one of our BIPC
discuss & agree on your choice(s) with
Business Information Factsheet on
Consider your financial income options
numbers. Do you get muddled with
not suit another, and you will need to
