Doncaster Businesses that are brimming with ideas but not cash are being invited to an event to look at alternative ways of raising money.
The Alternative Funding seminar at Doncaster Racecourse will consider methods other than the traditional route of asking the bank for a loan or overdraft.
Among areas covered at the event on February 12 will be the new phenomenon of crowdfunding.
Andrew Webb, of Business Doncaster, said: “We’ve all heard of crowdfunding, but does anyone actually really know what it is and how it works?
“The idea of this seminar is to give people the facts so that they can work out what is the best way for them to finance their business plans. They may have looked into borrowing from the bank, but decided that wasn’t the way forward for them.”
David White, of Ecopropagator, will give a detailed explanation of crowdfunding, which is basically a way of raising business finance by tapping into a ‘crowd’ of people willing to invest small amounts in exchange for rewards and a stake in the business.
The event, Looking Beyond the Banks – Alternative Funding, is funded by the South Yorkshire Sector Growth Enhancement Programme (SYSGEP). Business Doncaster is a partner in SYSGEP, which is part-financed by the European Union’s European Regional Development Fund.
The seminar will also cover what grants are available to businesses in Doncaster and will hear from Adam Tavener, of Clifton Asset Management, about using pension funds to invest in a business.
Andrew Webb said: “It is well documented that small and medium-sized enterprises have difficulty raising cash. In fact only last week (January 21) a report from the House of Commons Public Accounts Committee said SMEs are struggling to access the finance they need to start-up, operate and grow.
“So this seminar is just what some businesses may need. There are some amazing companies in Doncaster and some just need that helping hand to get them to the next level.”
Looking Beyond the Banks – Alternative Funding runs on Wednesday February 12, from 4pm to 6pm, with doors opening at 3.30pm. To book, email firstname.lastname@example.org or call 01302 862464. For more information go to http://www.businessdoncaster.com/events/event/beyond-the-banks-alternative-funding/
The free event is part of Doncaster Business Month, which also includes a Business Showcase at the racecourse on February 20, with more than 100 exhibitors.