Funding roadshow fuels business growth

A business support initiative has helped hundreds of firms explore funding opportunities through a national roadshow.

FUEL, delivered by County Durham-based business support and funding provider UMi, launched its UK-wide programme in Newcastle in March, bringing together businesses, funders and advisers. 

The event, held at the Grand Hotel, facilitated more than 180 one-to-one meetings aimed at helping SMEs access finance and prepare for investment.

The roadshow is designed to tackle common barriers faced by businesses seeking funding, offering guidance on identifying suitable finance options and achieving investor-ready status.

Skipton Business Finance exhibiting at the launch event in Newcastle

One entrepreneur who attended the event and met with investors was Martin Gilmore, director of The AutoPilot, an independent motorcycle retailer based in Newcastle. 

Martin said: “As a small retail business with freehold premises in the heart of Newcastle, one of the biggest challenges for us is the time that it takes to find the sort of people who would fund us, especially when it’s all relatively new to us, and FUEL was a great opportunity to meet face-to-face with those who are wanting to actually fund businesses in our sector.

“I sat down with Allica, Barclays and FW Capital. 

“At this stage in the game, especially when you’re an SME and you’re really in the trenches, speculative acquisition to add into your business is something that takes a load of time and what you don't want to do is spend weeks and months going down a path that's going to lead you nowhere, but this opportunity allowed us to quickly get a ‘yes or no’. 

“It’s a win-win for everyone.”

Paul Slaughter, chief executive at Care Messenger Holdings Limited, was also in attendance. 

Paul added: “It’s been fantastic to see the people who are actually lending the money, whether that's banks, private equity investors or debt finance, all here under one roof and having one-to-one opportunities to talk to them has been absolutely superb. 

“It’s exactly what our small businesses, whether they be start-ups or in the latter stages of growth, need.”

A business owner attending a Meet the Money appointment at the first FUEL roadshow in Newcastle

Backed by partners including NatWest, Purbeck Personal Guarantee Insurance, CO4CH, Scottish Enterprise, CBI and British Business Bank, the initiative forms part of UMi’s wider commitment to supporting business growth.

Since 2007, UMi has unlocked £1 billion in funding for UK businesses, supporting organisations at all stages of development.

Nicki Clark OBE, chief executive of certified B Corp and employee-owned UMi, added: “We are absolutely delighted with the response the first FUEL event received and are hopeful that future events will prove just as successful as word begins to spread.

“The roadshow was designed so that business owners up and down the country can access everything they need in one place over the space of a few hours and the feedback we’ve received demonstrates how the events are achieving just that.

“It not only helped facilitate over 180 meetings between businesses and investors but also helped many go away confident in the knowledge that they are on the right path and can now take the next steps required to successfully access finance for their business.

“It was a fantastic day and we would encourage any other businesses out there who feel as though they missed out or simply want to find out more about the funding avenues available to them to sign up to one of our future events. 

“It could be just the kickstart their business has been waiting for.”

Further events are scheduled to take place in Rotherham on June 10 at AESSEAL New York Stadium and in Edinburgh on September 24 at Murrayfield Stadium, with additional roadshows planned for Liverpool, the South East, the Midlands and Cardiff, where final dates and venues are yet to be confirmed.

Business owners interested in attending any of the events above can book tickets, or register interest in future events, via the website: www.fuelroadshow.co.uk.

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