Evidence is mounting that the UK’s banking system is failing to meet the needs of small business, while paying record low interest rates to people with savings. The latest data suggests that 79% of businesses that approach banks for loans are turned down, curtailing expansion plans and at worst, forcing companies out of business. Meanwhile savers are seeing interest rates of as little as 1.5%.
Yet alternative routes to finance have begun to challenge the traditional banking system and an event on 16 April will focus on how businesses and savers can get involved.
From crowdfunding to peer to peer lending and much more, the New Forest Business Partnership’s business breakfast will bring New Forest business people and potential investors up to date with the latest developments in alternative finance.
This event is aimed at anyone who runs a company, charity or community enterprise in the New Forest or nearby and is looking to grow their business or refinance, or who would like to know more about this rewarding form of investment.
There will be guidance on some of the opportunities and risks involved, with lots of interesting examples of the different platforms (such as Syndicate Room, Crowdcube, FundingKnight and Funding Circle). Expert speakers will include David Stevenson, who writes for the Financial Times and runs the website www.thefundingcentre.com , who will lead a seminar on how alternative finance works and what it offers that banks cannot.
Other speakers include Graeme Marshall of Southampton-based peer to peer lending business FundingKnight; Tom Britton of Syndicate Room (a crowdfunding company) and Geoff Cooney, of Genie Lending Ltd, which helps companies access finance from many different sources.
Alternative Finance Business Breakfast
Date: April 16, 2015
Time: 7.30 -10.00am
At Careys Manor Hotel, Lyndhurst Road, Brockenhurst SO42 7RH, Tel: 01590 624467
Cost: £5 NFBP members