The next local workshop will take place on Tuesday 26th May at the Canal Court Hotel in Newry from 8.00am – 10.30am where participants can learn about funding options and network with funding providers. Businesses must register for this event at the InterTradeIreland website.
The free regional workshops and clinics aim to encourage local SMEs seeking finance to do so in a strategic manner with a well-prepared business plan and to explore all finance options available to them.
These workshops will provide attendees with an overview on potential suitable sources of finance for growth and provide them with an opportunity to engage with relevant finance providers, whilst also hearing directly from funding experts.
Depending on the stage the company is at, a one-to-one advisory session with a corporate finance expert may then be set up with those who are in a position to secure funding and who meet relevant criteria.
Margaret Hearty, Director of Business Services and Programme for InterTradeIreland said: “Our recent cross-border research reports and quarterly Business Monitor surveys indicated that there is a limited knowledge among SMEs of alternative types of funding for growth options. With the upturn in the economy, there are now other avenues of funding available including private quality, trade credit, peer to peer lending and mezzanine finance.
“While this creates some fantastic opportunities and reduces the reliance on short-term financing such as using an overdraft facility, it also presents some challenges. How, without spending huge amounts of time researching the options, do companies find out how to access the money and which is best suited to their business objectives? This forces many to continue to go down the tried and tested avenues which may be less economically advantageous and not viable for a sustained period.
“Our findings resulted in us developing our new ‘Funding for Growth Advisory Service’, to help established local companies grow and prosper by educating and informing them on new and alternative routes to finance,” she added.
Local SMEs can obtain further information on InterTradeIreland’s new ‘Funding for Growth’ Advisory Service and sign up for the workshops and clinics at: http://www.intertradeireland.com/fundingforgrowth
SMEs can also find more information on Funding for Growth on Twitter by following @Inter_Trade or searching for hashtag #fundingforgrowth