Funding Options and Resources To Unlock Local Business Potential

small business northern ireland

Embarking on a business venture in Northern Ireland can be exhilarating, yet daunting, especially when it comes to financing. Fortunately, Northern Ireland boasts an array of funding options tailored to various industries and stages of business development.

At the end of last year, a £70m fund was announced by the British Business Bank to support small businesses in Northern Ireland. Our business supports a number of local SMEs and we’ve been able to guide them to financial advisors who can help them scale their companies.

Here are a few of the many options outside of traditional bank lending:

Invest NI Grants:

Invest NI offers an assortment of grants designed to bolster business growth across sectors. From R&D support to export development assistance, these grants provide vital financial backing alongside expert guidance to propel your business forward.

Enterprise Finance Guarantee Scheme:

Administered by British Business Bank, this scheme facilitates access to loans and overdrafts for businesses lacking sufficient security. It’s particularly beneficial for startups and SMEs seeking financial support from traditional lenders.

Co-Fund NI:

Co-Fund NI is a venture capital fund investing in high-growth potential businesses. Collaborating with private investors, it provides equity finance to startups and early-stage companies, fostering innovation and job creation in Northern Ireland.

HALO Angel Network:

HALO is a network of angel investors dedicated to supporting promising startups in Northern Ireland. By providing not just capital but also mentorship and industry connections, HALO empowers entrepreneurs to realize their business visions.

Innovate UK Smart Grants:

Innovate UK offers Smart Grants to businesses pursuing disruptive innovations with significant market potential. These grants support projects that drive economic growth and societal benefit, positioning Northern Ireland at the forefront of innovation.

Ulster Community Investment Trust (UCIT):

UCIT specializes in providing affordable finance to community and social enterprises. By offering tailored loan products and financial advice, UCIT enables businesses to create positive social impact while achieving financial sustainability.

Navigating the funding landscape can be complex, but with the right resources and support, Northern Irish entrepreneurs can access the capital needed to thrive. Whether you’re a tech startup, a social enterprise, or a traditional SME, there are funding avenues available to help turn your business aspirations into reality.