FundSME - A Solution
The FundSME Website and Events will educate SMEs about their improved funding options, promote business expansion and give funders new and better prepared business customers. SME owners that accessed finance through these sources will present their “How I got funded” case studies. Guest speakers, exhibitors and funding experts will deliver a series of “How to get funded” talks
. Click here for more details on the event. Up to 2,000 SMEs/Start-Ups seeking funds for working capital, expansion and/or refinance will be matched with funders. Events will be hosted in Dublin May 2015 & Belfast. There will be in excess of 50 exhibitors at the event. The Funding exhibitors will include major Banks including the recently launched Strategic Banking Corporation of Ireland (SBCI), Equity & Angel Investors, Venture Capital Funds, Invoice Financing Firms, Peer to Peerand Crowdfunding Platforms and Government Support Agencies. Of the 185,000 SMEs/Start-Ups in Ireland there is a potential audience of 30,000-40,000 with the event catering for up to 2000. As tickets are limited and demand is expected to be high, early booking is essential. CLICK HERE FOR TICKETS
In his budget speech Michael Noonan referred to SMEs as “the lifeblood of our economy and play a crucial role in economic and employment growth”. To grow and expand their businesses SMEs need access to funding. If just 3% of the 185,000 SMEs, take on one new employee this will create 5,400 new jobs. It is estimated that firms will require in excess of €125m of new or additional funding to create these jobs. FundSMEs aim is to help Businesses and Funders to come together to grow and create jobs. How will FundSME Help SME and Start-Up Communities? FundSME is an innovative website and annual event helping SMEs & Start Ups find and access best fit funding products to suit their particular business needs. Clear, reliable information on existing and alternative funding options will be collated and presented at www.fundsme.ie At the FundSME events businesses will both learn about and access the various sources of funding currently available in the Irish market. The SMEs and Start-Ups that have weathered the financial crisis now need funding to develop and grow. However, SMEs and Start-Ups face two serious dilemmas in their efforts to expand and create jobs; Access to Finance & Funding Imbalance. The FundSME website and event aims to help resolve both dilemmas. Access to Finance - A Dilemma
For the SME/Start-Up seeking €25k to €5m in finance accessing these vital funds can prove difficult. Currently there are >50 funding options with up to €6Billion available to fund businesses. Difficulties arise because business operators and advisers do not always possess the knowledge of ‘best fit’ funding options to suit particular business needs and there is a lack of ‘know how’ to access these funding sources. Funding Imbalance - A Dilemma
*94% of businesses rely on banks as the main source of finance with only 6% using alternative sources of funding, *70% of businesses seeking funding require working capital to invest in New Personnel, Plant & Machinery & Promotion. The dilemmas are exacerbated because too often SMEs possess neither the skills nor information on alternative types of funding. They simply lack the knowledge of how to access these other funding options. There is €4.6Billion in funds available from alternative funding sources.
