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ICAEW launches SME finance guide

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28th Nov 2012
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As many small businesses still struggle to get finance, the ICAEW has published a free guide to explain different sources of funding and how to get them. Nick Huber reports.

The guide, published in partnership with the Department for Business Innovation and Skills, explains the types of funding available for smaller businesses, including government schemes and alternatives to bank debt and equity.

Business and enterprise minister, Michael Fallon said: “This guide provides valuable advice to SMEs across the country. Access to finance is a crucial issue for SMEs and I welcome anything that can help businesses to better understand the wide range of support that is on offer."

David Petrie, head of corporate finance at ICAEW, added: “For a business seeking finance it may not always be clear what type of finance is most appropriate – whether the business is better suited to incur debt or to sell an equity stake in the business. Forms of debt can go beyond the familiar concepts of borrowing, overdrafts and leasing. To fund growth businesses need up to date and clear guidance to get them investment ready. This guide will help businesses with this process”

The ICAEW also offers businesses a free consultation by a chartered accountant.

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