New access to finance web portal launched by GBSLEP and BPS Birmingham
As the economy recovers, the challenge for SMEs to access finance remains a major issue across many sectors. A new website, backed by the LEP, launches today to provide clearer routes to grant, debt and equity finance solutions.
which aims to help SMEs find the right pathway to potential funding.
Members of the region’s business community are gathering at Shoosmiths law firm this morning for the launch of the portal and will hear from BPS chair Alex Bishop and GBSLEP chairman Andy Street.
At the heart of the new portal is the aim of simplifying the process of raising finance for SMEs. The website segments funders into areas of specialism and expertise. For 70 finance providers registered on the site, it gives them a vehicle through which they can connect with local businesses seeking assistance with start up, working capital or growth.
Beyond simply signposting potential funders, the website also provides explanations and tips to visitors to explain the different types of finance available at different stages of their development.
The initiative has been led by two senior representatives from the city’s professional sector. Adam Smith from business advisory firm Deloitte and Paul Ray at law firm Browne Jacobson have been working in partnership with financial experts at GBSLEP. Commenting on the launch of the website, Adam Smith said:
In the depths of the recession and now during this recovery phase access to finance remains one of the biggest challenges for SMEs. The world of finance is complicated and difficult to navigate and as the representative body of the business professional and financial services sector, BPS Birmingham thought that we should be putting our collective skill and influence behind finding ways to alleviate the problem facing local SMEs.
I am thrilled that after much planning and discussion and by working with our partners in the finance marketplace and the GBSLEP we have been able to create and launch this website. I hope that SMEs will use the portal and that they will find it a useful pathway to gaining funding for their future growth. This is a clear demonstration that the professional services sector, through BPS Birmingham, working together and then partnering with other organisations who share our objectives can deliver initiatives that can have a positive impact on securing the region’s continued economic prosperity.
Andy Street, Chairman of the GBSLEP commented;
The launch of the Access to Finance website provides a very useful tool for SMEs needing assistance with raising funding and this new initiative shows how the GBSLEP and its partners can support the work of other business organisations in the region.
Together we are working towards a common goal of improving opportunities for businesses of all sizes who are operating in a wide variety of sectors in our area, which in turn will lead to us achieving our increased economic growth and job creation targets.
In addition, the portal will form an integral part of the GBSLEP’s new Business Growth Hub that we will be launching later this year, which will provide an invaluable centralised information and support resource across a range of topics for businesses in the area.
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