Home Boost Business Lancashire logo

Finance Hub Q&A: Delyth Edwards

Delyth Edwards

Delyth Edwards is a senior manager at British Business Bank, the UK’s economic development bank, working with more than 200 delivery partners such as banks and venture capital funds. British Business Bank supports UK businesses to start up, scale up and stay ahead with access to finance information and support.

Delyth shares her top tips relating to business funding.

What gets you excited about helping businesses secure funding?

I am fortunate enough to get to talk to a wide variety of founders and businesses who are extremely passionate about what they do and have a unique and interesting story to tell about their journey.

Whilst we don’t lend or invest directly at the British Business Bank, I can signpost businesses to our range of programmes and delivery partners who can help them secure the funding they require.

When looking for funding, where should a business start?

Businesses should consider seeking professional advice and guidance when looking for funding to ensure they are on the right track. If you already have an accountant, a trusted mentor or advisor or a contact at your local business growth hub this will help you get started.

British Business Bank’s Finance Hub is also a place where you can find a variety of information to help you with the next steps.

What are your top tips to get a business investment ready?

There are many important aspects to consider, aside from finance to ensure that you have a clear growth plan that takes into account the following; What makes your business special and stand out from the competition? Do you fully understand your market? Are you missing any key skills from your management team?

From a financial perspective you need to be clear on why you need investment, the amount and timing of the funding required and that your financial forecasts are realistic

What are the common pitfalls businesses make when seeking funding?

Not being well prepared or ready for finance is a common pitfall. By not seeking professional and appropriate advice from experts in advance, businesses risk making costly mistakes or spending time and resources seeking finance without having researched the market thoroughly in the first instance.

Whether the business is applying for a grant, debt or equity finance it needs to ensure that it’s a good match for the aspirations and purpose of the company.

What are funders looking for in a leader and management team?

Funders look for a strong mix of skills and experience within a management team to ensure that there is a balance between the key aspects of running a business such as commercial, technical and financial.

Funders will have varying criteria that need to be met for some funds depending on whether it’s a grant for a specific project or a loan to expand the business. It’s always best to have a conversation with the fund and fully understand what they are looking for before you apply.

Why should investors and funders be looking to Lancashire Businesses?

Lancashire has a thriving and varied business community, from startups through to established businesses with particular strengths across cleantech, health, digital and advanced manufacturing providing a great pipeline of opportunities for investors.

For more information on British Business Bank, visit https://www.british-business-bank.co.uk/

Share

You may also like...

Lancashire’s business leaders come together to discuss the missing piece in the county’s funding ecosystem Roundtable
5th April 2024
 | 
Finance
Lancashire’s business leaders come together to discuss the missing piece in the county’s funding ecosystem
Buoyed by a devolution deal, Lancashire’s business leaders discussed the missing piece in the jigsaw in the county’s funding ecosystem
Launch of the Northern Powerhouse Investment Fund II provides £660m boost for small businesses AdobeStock_318709333   Preston
22nd March 2024
 | 
Finance
Launch of the Northern Powerhouse Investment Fund II provides £660m boost for small businesses
The British Business Bank has launched its new Northern Powerhouse Investment Fund II, a £660m fund set to cover the entire North of England.

Sign up to our newsletter

For insights and events to help your business thrive.

Please note if you do not agree to us sharing your information we will be unable to offer you full assistance under the scheme.
Funded by local govmt
Levelling Up
Department for Trade and Business
Northern Powerhouse
Lancashire County Council

The website uses cookies.

Some are used for statistical purposes and others are set up by third party services. By clicking 'Accept all & close', you accept the use of cookies. For more information on how we use and manage cookies, please read our Cookie Policy.