Access to Finance for Businesses
Many SMEs continue to face challenges in securing funding due to rising operational costs, particularly energy and rent compounded by cautious lending practices and high interest rates. A British Business Bank report examined how ethnicity, gender, location and education impact entrepreneurial opportunities. It found that 39% of Black and 49% of Asian business owners abandon their business ideas due to difficulties in securing funding. Our ‘Access to Finance for Businesses’ event provided a plethora of funding options with our partners at Barclays as well as alternative lenders which has given businesses options to make well-informed decisions when it comes to their business finances.
On 3rd October, Our Newham Business & Enterprise and Barclays hosted a successful workshop on financing options for entrepreneurs and local businesses, attracting over 60 participants as part of British Business Bank's Finance Week.
The workshop covered various financial options available to businesses, as well as the common challenges faced by businesses today. Attendees enjoyed interactive presentations, which shed light on funding opportunities, investment strategies and financial planning. The evening was packed with numerous opportunities to connect with fellow experts in finance, dynamic discussions and delicious refreshments. The event featured interactive presentations that thoroughly explored the diverse range of financial options available to businesses. These options were discussed further using our Q&A sessions to help businesses tackle their unique challenges and strategies. In addition to the informative presentations, the event provided valuable networking opportunities for learning and growth.
Special thanks to Caloroso Bakery and Unit Six Café for providing the evening's refreshments, showcasing the best of community wealth building with their exceptional offerings. We encourage anyone interested in supporting local businesses to consider these talented caterers for future events. Additionally, this event would not have been possible without the generous support of our key partners: Barclays, Eagle Labs, Property Advice Service as well as Newham Chamber of Commerce (NCC), University of East London (UEL) and Better Points who also presented businesses with an innovative approach to increase their revenue and reach more customers.
We extend our heartfelt thanks to Councillor Amar Virdee, Councillor Larisa Zilickaja and Council Winston Vaughn who took the time to attend and engage with businesses. Thanks to all our attendees; your enthusiasm and active participation made the event a tremendous success. We are confident that the insights gained from the workshop will prove valuable in your entrepreneurial journey.
For those interested in further connecting with any of our speakers or exhibitors, or if you have specific financial needs, please don't hesitate to contact us. There may be additional services and opportunities available to you that you haven't yet explored, and we are here to help.
Contact:
Our Newham Business & Enterprise
Email: ournewhambande@newham.gov.uk
0203 373 7373
