Businesses can always do with more support when it comes to capital, but with so many options, how do you find the right one for you? Shak Asghar of Nudl is here to help.
Many business owners highlight cashflow as one of their key concerns, most not realising there are more options out there than simply going cap in hand to the bank. “Working in the business support/fund management space for 20 years, I realised businesses simply weren’t able to access a lot of the funding opportunities due to red tape and jargon.” This frustration led Shak to set up Nudl with the aim of simplifying funding for businesses. It’s worth noting that investment and funding are not the same thing – although Nudl offers access to both. Funding tends to be centralised; grants for a specific purpose. Investments are more personal, with a judgment being made on whether the business is, bluntly, worth it. Shak explains: “Both have their merits – mainly a large cash injection – but it’s important to weigh up which option will work best for you. “Grants are free money that you don’t have to pay back, but are generally limited, both in terms of how long it will last and what you can spend it on.” Investments have three main categories; private equity, individuals or privately-owned institutions buying a company or funding a project; venture capital, designed to fund start-up companies with high growth potential; and angel investments, high net worth individuals looking for high returns through private investments in startups.
As Shak explains: “The key thing investment options is how involved you want the investor to be; do you just want money, or advice as well? “Like any relationship, you need to know what they’re expecting from you, and vice versa. You also need to do your due diligence – do they really have what you need, whether that be in terms of capital or commitment?” “I want to put the fun into funding,” explains Shak. “Over the next few years, if someone thinks they need money to help their business grow, I want to make sure they automatically think of using their Nudl.”
