Coventry SMEs urged to join workshop to demystify finance

Small and medium-sized businesses in Coventry have been urged to sign up to a free workshop which will help to demystify finance and identify new funding for their company.

Experts from a range of organisations will be giving advice at the Ramada Hotel & Suites by Wyndham Coventry in The Butts, Earlsdon, Coventry, between 9.30am and 12.30pm on Tuesday, November 7.

The workshop is the first phase of the Coventry Investment Readiness Programme which is being delivered by C&W Business Solutions, part of the CW Growth Hub Group, as part of the new UK Shared Prosperity Fund programme, on behalf of Business Growth West Midlands and the West Midlands Combined Authority.

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Start-ups, scale-ups, and early-stage high growth businesses can hear expert knowledge from Rupert Lyle, of Midven - West Midlands Co-Investment Fund, and Richard Blount, of Maven Capital Partners UK LLP, along with angel investors, and representatives from Business Ready and Coventry City Council.

They will cover a wide range of topics including debt finance, asset finance, finding and applying for grants, equity and venture capital, angel Investors, crowdfunding, and the importance of pitch decks.

One of the speakers, Ian McFarlane-Toms, A2F Lead and Programme Manager for business support, explained that securing investment is rarely easy, and is rarely quick.

He said: “The process of raising finance can be quite disheartening. If the business owner doesn’t understand the funding landscape, understand what motivates investors or lenders, and the time it takes to get them onboard, they will invariably face a lot of rejection and disappointment. Working with a network of supportive and experienced people, like the Investment Readiness programme, will absolutely pay dividends.”

Craig Humphrey, CEO of Coventry and Warwickshire Growth Hub, said the new Coventry Investment Readiness Programme would meet a need in giving SMEs an overview of the current funding landscape and to understand more about business finance.

He said: “The programme will help Coventry businesses gain external investment and reach their growth potential.

“We know from talking to SMEs in our area that there are many businesses who have the ambition and ability to reach the next level of growth but are unsure where to turn for the finance to make this a reality.

“We have organised a range of expert speakers to outline the finance opportunities that are available, so that company owners can identify the funding avenues which are most suited for their business and achieve their expansion plans.”

Paul Edwards, Head of Economic Development and Delivery at the West Midlands Combined Authority, added: “We know that West Midlands businesses often struggle to secure the external capital that they need to grow and thrive. We’re delighted that, as part of the Business Growth West Midlands service, Coventry and Warwickshire Growth Hub is able to offer dedicated support to Coventry businesses to help them attract that finance.

“The Growth Hub will bring their experience of working with Coventry businesses together with regional and national expertise to provide leading advice in how best to secure external finance to really drive growth in businesses across Coventry.”

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The programme will be delivered in two phases. The workshops are part of Phase 1, which will provide businesses with a holistic overview of the funding landscape and enable them to understand the world of business finance and identify what routes to funding may be available to their business.

The second phase is available to those who are eligible to progress, and will include mentoring, 1:1 support from funding experts, Turnkey, and access to specialist online tool, Funding Hero, both of which will help businesses develop their fund raising strategy and pitch decks.

To be eligible for the free workshop, businesses must be economically active and based in Coventry.