LSBU develops an innovative programme to help support SME businesses access funding
16 October 2014
Research by leading multinational insurance group RSA, revealed that although Britain is enjoying a boom in start-ups, there are still a large number of SMEs struggling to get through their early stages.
Following on from newly released research, London South Bank University (LSBU) has developed a programme called the 'Investment Escalator' for London SMEs which provides a demand-led programme of workshops, peer support, events and specialist coaching to help businesses make their case to attract new investment.
The programme is part funded by the Mayor of London's European Regional Development Fund (ERDF) and it will work with 200 businesses through a menu of free support and interventions that will equip businesses to secure funding. Following a business diagnostic and development of a bespoke action plan, each business will identify the support they want from a broad range of basic and advanced workshops and one to one coaching.
LSBU has a track record in understanding and responding to business needs and has previously worked with Bond Display Cabinets helping improve their product range which resulted in £560,000 in new sales, and pipeline sales worth £3m.
On 31 October 2014, LSBU will be hosting the Investment Escalator Networking Breakfast to introduce the free programme to local SMEs and provide more detailed information. Attendees will also have the opportunity to hear from one of the LSBU academics, Professor Mike Molan, who is directly involved in the programme and from a representative of the East London Small Business Centre, not-for-profit support agency for small businesses that will be delivering some of Investment Escalator workshops. Following the presentation there will be a chance to network with SMEs and members of the Investment Escalator team.
Professor Mike Molan said: "At London South Bank University, we're not only helping SMEs realise their potential, but we're helping them thrive too. The brand new Investment Escalator programme is giving ambitious SMEs the support they need to help break down the barriers to access funding. SMEs in London are yearning for more support, tailored information and advice, and we're proud to have a programme dedicated to helping them achieve the best possible chance of success."