How to Finance Your New Startup Idea


Did you know there are more self-employed and self-founded small businesses now than ever before? With the increasing amount of business courses, vast availability to business knowledge and more job flexibility than ever before, it’s never been easier to be a self-starter. Of course, the drive and determination is only the half of it – it can be tricky knowing how to finance your new startup idea. With many years of experience in the finance sector, helping many business owners get off the ground, here’s our advice on where to start.

Business Grants

Business grants were made for founders with big ideas but small pockets. Whilst it might take some research and, of course, offers are conditional, there are lots of grants available through government business schemes, set up in the interest of stimulating the economy. These grants usually help fund the beginning processes of your startup and are a great option for start-ups, if you don’t mind a little competition.

Tax Breaks

Depending on the areas you are working in, it’s also good to have a look if there are any tax breaks available for you and your business. You might be able to claim Research and Development Tax Credits, Patent Box relief, or several tax reliefs available for creative industries such as film production and video gaming.


Lots of self-starters are turning to crowdfunding nowadays to finance their new startup idea. If you truly have a great idea and believe there is a demand for your product or service, then put it to the people and they will show this to be true! There are lots of online crowdfunding websites today which require just a little information and usually some incentives that give back to the people who invested in your idea early on, as and when you reach certain funding goals.

Angel Investors

If you’re willing to share a percentage of ownership and profits, seek out angel investors. It takes some time and research to seek out the right people and you may need a charismatic and convincing approach, but this funding option also comes with the benefit of your investor’s experience, advice and wisdom. They also usually bring great contacts to the table, which can be key in quick growth.


Getting funding can be made easier by making your company more attractive to investors. By registering your investors can get tax relief up to 30% from EIS or 50% from SEIS investments against their other income for the year and may not pay tax on any gains should they sell the shares later on (depending on the scheme used).

Bank Loans

Bank loans are a more traditional method of financing your new startup idea, but they are reliable and widely available. The downside to using bank loans is, of course, that you’ll have to have a lot of your personal and business financial information such as assets, credit and collateral to hand and be willing to consider having to secure a loan against property or a personal guarantee.

However, you choose to finance your startup idea, having your finances in check is essential. As experts in the financial planning field, we offer tailored services to individuals and businesses all over the UK. Browse all of our services here or make an enquiry today.

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