UKBF editor Rachael Power went to the first Business Funding Show in London this week. In her first Editor's Diary, she shares some industry updates taken from the event.
Business exhibitions are always a mixed bag. You go, you meet some genuinely interesting people, you collect the little branded cloth bag full of printed leaflets (and the occasional free pen) and stroll around, ogling people's lanyards.
The Business Funding Show at Old Billingsgate had, what looked to us, a great array of big name speakers including The Apprentice 2014 winner Mark Wright, Innocent founder Richard Reed and Cobra Beer's Lord Bilimoria.
We took in some talks and learned quite a bit about bank funding and why you should protect your intellectual property (via some hilarious examples of what not to trademark, think 'sofa king'). We spoke with the vendors, who were varied and switched on about what's happening in the small business funding market; everything from angel investment, to crowdfunding to asset based finance were in the room.
'Tech City Coffee meetup?' they asked, 'startups?'
We shook our heads, but paused to ask them a few questions. Why did they want to talk to startups?
'We're accountants,' they explained, 'but we provide more of a mentoring service for tech startups.'
After a bit of research, it turns out that the Tech City Coffee meetup is a 2,500 strong group who met regularly to discuss business and personal development. There really is an appetite for tech startups in the capital.
Launched in October 2014, it's a cash advance of up to £60,000 for merchants with a strong PayPal sales history.
According to its website, merchants can select the cash advance amount; the maximum amount depending on PayPal sales behaviour.
They then choose the percentage of future PayPal sales that will go towards repayment of the merchant cash advance and the associated fixed fee. Successful applicants can then receive the funds straight away. You can make one off payments without penalties.
We thought it was an interesting idea, and would love to hear what PayPal merchants on UKBF think!
Natwest is in partnership with KPMG Small Business on Entrepreneurial Spark's accelerator programme. Applications open for August 2016's intake fairly soon; in the meantime we'll be keeping an eye on our local 'hatchery' (or branch) of the programme in Bristol.
Apparently, even Asda's bum-patting action, to signify saving money is trademarked, as was Cadbury's purple wrappers (though it is no longer). However, you can't trademark smells or sounds (as they can't be accurately graphically represented) though some have tried.
However it's advised that if you've got any special eating habits, bring your own packed lunch as the cafe's not very exciting. We know this isn't industry news, but entrepreneurs are always hungry, right?
Were you at the Business Funding Show - what did you think? Comment below (make sure you're logged or signed up first!)
Business exhibitions are always a mixed bag. You go, you meet some genuinely interesting people, you collect the little branded cloth bag full of printed leaflets (and the occasional free pen) and stroll around, ogling people's lanyards.
The Business Funding Show at Old Billingsgate had, what looked to us, a great array of big name speakers including The Apprentice 2014 winner Mark Wright, Innocent founder Richard Reed and Cobra Beer's Lord Bilimoria.
We took in some talks and learned quite a bit about bank funding and why you should protect your intellectual property (via some hilarious examples of what not to trademark, think 'sofa king'). We spoke with the vendors, who were varied and switched on about what's happening in the small business funding market; everything from angel investment, to crowdfunding to asset based finance were in the room.
Accountants want to speak to tech startups
While loitering and eyeing a list of talks, we were approached by two gentlemen.'Tech City Coffee meetup?' they asked, 'startups?'
We shook our heads, but paused to ask them a few questions. Why did they want to talk to startups?
'We're accountants,' they explained, 'but we provide more of a mentoring service for tech startups.'
After a bit of research, it turns out that the Tech City Coffee meetup is a 2,500 strong group who met regularly to discuss business and personal development. There really is an appetite for tech startups in the capital.
PayPal's Working Capital offering
We swung by Paypal's stand, where we had a brief chat about their working capital service.Launched in October 2014, it's a cash advance of up to £60,000 for merchants with a strong PayPal sales history.
According to its website, merchants can select the cash advance amount; the maximum amount depending on PayPal sales behaviour.
They then choose the percentage of future PayPal sales that will go towards repayment of the merchant cash advance and the associated fixed fee. Successful applicants can then receive the funds straight away. You can make one off payments without penalties.
We thought it was an interesting idea, and would love to hear what PayPal merchants on UKBF think!
Natwest have their finger on the entrepreneurial pulse
We attended a talk on the various forms of bank funding for businesses from Natwest. It was very factual, but when Entrepreneur Development Manager Chris Kettle started to talk about the bank's work with Entrepreneurial Spark, our eyes and ears lit up.Natwest is in partnership with KPMG Small Business on Entrepreneurial Spark's accelerator programme. Applications open for August 2016's intake fairly soon; in the meantime we'll be keeping an eye on our local 'hatchery' (or branch) of the programme in Bristol.
Intellectual Property is kind of a big deal
The Intellectual Property Office (IPO) gave a pretty interesting talk on why we should all be taking IP seriously.Apparently, even Asda's bum-patting action, to signify saving money is trademarked, as was Cadbury's purple wrappers (though it is no longer). However, you can't trademark smells or sounds (as they can't be accurately graphically represented) though some have tried.
Bring a packed lunch though
The venue was very well located near Monument station, with wondrous views over the Thames toward London Bridge and a large hall inside to accommodate the crowd.However it's advised that if you've got any special eating habits, bring your own packed lunch as the cafe's not very exciting. We know this isn't industry news, but entrepreneurs are always hungry, right?
Were you at the Business Funding Show - what did you think? Comment below (make sure you're logged or signed up first!)
