Funding and Grants
Most businesses seek funding or investment at some point in their lifecycle. It can be difficult to identify sources of funding. Even when you do find it, invariably there is an application process which involves lots of paperwork and meetings. It all takes time, and fund raising can be very time consuming for you as a business manger. Often these time demands occur just when you need to be focusing on a new project, new customers and just getting started. Applying for those funds may therefore have an opportunity cost that you consider to be too high for your business.
There is no such thing as a free lunch, nor indeed free funds, so I always review the reasons for a funding application with a client and we evaluate the pros and cons of each of the alternatives. Should your company apply for funding at all? Do you really need the money? What are you going to spend the funding on? What are the downsides? How much do you need? How likely are you to be successful with your application?
I can research your funding needs and identify where your funding needs can be best met. Together we can decide a strategy for an application and we can decide how much or how little of this process you can manage yourself.
I can research sources of grants for your business. Grant application criteria can be assessed, and once your business qualifies, I can negotiate and complete an application for you. I can prepare documents for submission to the grant body. I can submit documents for audit and deal with audit queries, should that be required.
Funding Rounds: Share Issue
The issue of share capital tends to be a more complicated process, involving a range of investors. Angel investors, Venture Capitalists or Enterprise Ireland may be involved. Once we have evaluated what, if any, is the right source of finance for your business, I can develop a prospectus with you or a business plan containing full financial forecasts, including cash flows, Profit and Loss Accounts and Balance Sheets for 1, 3 or 5 years as required. All of these forecasts are underpinned with detailed schedules, which provide validation for every figure contained in the forecasts. This level of detail is required to ensure that the figures “stack up” and are usually provided to the due diligence team. I develop financial models tailored for your business, so that forecasts can be recalculated very quickly. I will ensure that the forecast figures agree with your vision in the business plan and appear reasonable taking all factors into account. I can assist you to develop and refine your investment pitch. I will liaise with your legal team to develop shareholders’ agreements. I can also act for you in completing the investor due diligence. My level of involvement will be agreed from the outset, to ensure that you have the level of support that you need.
Some typical Assignments:
- Prepare financial projections for a SaaS start-up to successfully close a €700,000 funding round with Enterprise Ireland and Angel Investors. Prepare due diligence reports for client and liaise with legal team to secure the deal. Also used same figures to apply for IntertradeIreland grants
- Identify sources of finance for a start- up. Prepare a complete a complete a business plan to successfully secure funding for a technology start-up to build a prototype
- Successfully identify, negotiate and complete grant applications for a not-for-profit company
Find out More
If you would like to find out more about funding and grant application services for your business, please contact me.