small business funding

EIS Funding for UK Small Businesses Hit a Record £1.5bn Last Year

EIS Funding for UK Small Businesses Hit a Record £1.5bn Last Year

Britain’s small businesses secured a staggering £1.5bn through the Enterprise Investment Scheme (EIS) from 2013 to 2014 – up 48% from the year before – a new report from Radius Equity has found. 2,770 businesses raised funding through the government’s tax relief scheme, the highest number in 15 years and a 12% increase from the 2012 to 2013 figure. The Seed Enterprise Investment Scheme (SEIS), which is focused on start-ups, also experienced an increase both in the number of numbers raising investment via the scheme and the investment raised. The number of start-ups using SEIS went up by 75% to 2,030 in 2013 to 2014 and the amount of finance raised increased from £86.1m to £166m. Radius Equity director, Gary Robins, commented: “EIS is becoming an increasingly valuable source of capital, esp... »

PayPal to Offer Business Cash Advance Solution for Small Businesses

New Working Capital fund for PayPal business customers and eBay sellers announced to meet “enterprise funding gap” PayPal has announced a new solution that will offer cash advances to the UK’s small and mid-sized businesses in order to help close the current funding gap. PayPal business customers, including eBay sellers, will be able to utilise the payment group’s Working Capital fund to access merchant cash advancements against future sales. Small businesses will be able to access funding quickly and without affecting their credit record. PayPal will make decisions based on the companies PayPal sales history and then transfer finance in “minutes” with a single, fixed fee presented to the business before they sign up. PayPal’s Working Capital fund also allows businesses to pay back the adv... »