BUFFY helps business beat a path to funds
Finding finance got easier for small businesses today [Wednesday 23 May 2012], as one of Britain’s leading entrepreneurs launched a new free tool that gives businesses access to a wide range of finance providers.
The Entrepreneur in Residence at the British Library, Stephen Fear, launched the new website www.businessfinanceforyou.co.uk [BUFFY] at an event for over 200 of Britain’s entrepreneurs. The website, developed by the British Bankers’ Association and Better Business Finance banks with help from a number of business organisations and finance providers, makes it easier for businesses to find the finance they require by bringing into one place a wide range of finance providers – including business angels, regional funds, asset and lease financers, government schemes, grants and CDFIs as well as banks.
BusinessFinanceForYou.co.uk is free to use; and has an easy-to-use search engine which allows businesses to refine their search for finance according to five criteria: their geographic location, the industry in which they operate, the amount of finance they require, the type of finance they require, and the life stage of their business. Search results are generated from the site’s wide range of finance providers, meaning businesses can search for finance in just one place rather than having to trawl a number of different websites.
Stephen Fear, the Entrepreneur in Residence at the British Library, said:
"Britain needs entrepreneurs and entrepreneurs need finance so the launch of this well thought out and easy to use website is a major step forward for fledgling and growing businesses.
"I am always being asked where finance can be found for new and expanding businesses and from now on will be recommending this informative and user friendly website which really does provide first class information. I have long been saying that if it was as easy to get finance for your new business as it used to be to get finance for your car, Britain would be a world leader in start-ups. Start-ups often go on to be major employers of the future, something we should all support – what a brilliant initiative from the BBA."
Angela Knight, BBA chief executive, said:
"Access to finance is a critical issue for Britain’s businesses – and is an issue that is being taken seriously by the banks. There are very many sources of finance in the UK and finding out about and navigating a path through all of these can be complicated and confusing.
"That is why we have developed BusinessFinanceForYou.co.uk – to bring into one place a wide variety of finance providers and make that search easier for businesses. Sometimes bank finance is not the right thing for a business – but we want to be able to help businesses by showing them what the alternatives are. We hope this website makes finding finance easier and quicker for businesses – helping them to grow and thrive."
Notes for editors
1. The Business Finance For You website was developed by the BBA and Better Business Finance Banks (see note 4) with help from a number of business organisations and other finance providers including the British Chamber of Commerce (BCC), the Institute of Chartered Accountants in England and Wales (ICAEW), the Community Development Finance Association (CDFA), and many more. www.businessfinanceforyou.co.uk
2. Stephen Fear is Entrepreneur in Residence at the British Library and is launching Business Finance For You.co.uk at a British Library event in the evening of 23rd May 2012. The event is being webcast live: http://live.webcasts.unique-media.tv/tbl015/. More details about the event are here; and more details about Stephen are here.
3. More details about the British Library’s Business & IP Centre and its help and resources for businesses and entrepreneurs can be found here.
4. About Better Business Finance: The Better Business Finance campaign provides impartial information and support to business customers looking to raise finance. It is supported by the British Bankers’ Association and the banks involved are Barclays, HSBC, RBS, Lloyds and Santander. It has been created to bring to life the recommendations of the Business Finance Taskforce. Further information can be found at http://www.betterbusinessfinance.co.uk
5. BBA press office – 020 7216 8989; out of hours – 020 7216 8888.