Keith, if you fancy writing an article on this - send an email into jojo@fashioncapital.co.uk and lets get your name out there!

Is this Keith Benson?

Jenny

Hi Janet

Sources of finance for start up creative businesses is a minefield! However, there is help out there. Give me a call on 021480 214516 and maybe I can help.

Keith

There used to be funding for the industry via the Department of Trade but this was disbanded about a year ago and now all the funding for the sector is via the Regional Development Agencies (RDA) such as London Development Agency, East Midlands Development Agency etc.

You have to contact each RDA to find out what start up business funding there is however in my experience there is a lot of business support....i.e. advisors but very little re seed finance.

In London there is the Creative Capital Fund. You can find information on this on the Creative London site. There are other organisations such as the PRincess Trust that can provide finance but this is age specific.

There were other schemes such as Shell Livewire but I would need to research to see if this is still available.

There is the East London Small Business Centre, they do have finance for orders on a short term basis. There is also One London and they offer fiance too (I believe up to £15,000) but there is obviously a lot to go through here to obtain the finance; meetings, marketing plan, business plans etc. I do know of two designers that have achieved this funding though.

There is also the SMall Business Gurantee Scheme but you have to be referred to this by a bank.This is a DTI initiative and I believe you can get the loan up to £150,000.

I hate to say it but the main areas of fianance is the three Fs, friends, family and foolhardies...that's how I started up and loads of my peers too. The general stance from Governement sources here is why should they provide finance specific for fashion designers, if they did then they would have to for other sectors too....

I hope this helps. If you want to call and discuss this further please do 0208 8462 9620 - which area are you from?

Jenny

I would like to state that it upsets me that many posts go to waste on this website. Still not sure about what I'm talking about.. Well, there are many individuals who posts questions regarding starting a small business or opening a boutique and the simple question regarding funding is always not answered. Many business owners seem to bypass that question by saying we should make sure to have enough money set aside for a rainy day. Besides the obvious..What we really want to know is how you got funding for your business. If you were lucky enough to get an investor, was there a website or independent service that gave you information or the contact details of potential investors interested in funding creative ventures. We know bank loans are hard to get and other than government grants or asking friends and family for money, is there any other form of funding available. I know there are investors out there ready to take on the next project leading to a profit, but where do we find them? Who can we talk to inorder to get in touch with these people, Beside The Dragon's Den...

Regards,

Janet