Workshop on how to plan your business and access finance

AN upcoming Local Enterprise Office Wicklow workshop will demystify the process of business planning and raising finance for your business.

The cornerstone of any business loan application is the business plan, which the first half of the workshop will be devoted to. Participants will learn how to write a business plan for an investment proposal, grant or loan and the critical elements that must be included and how to structure the document.

General information will be provided on the types of loan finance available to small businesses from lenders such as the SBCI (The Strategic Banking Corporation of Ireland), and specifically MFI (Microfinance Ireland) and the mainstream banks and Credit Unions. In addition to this, other types of financing will be discussed, such as leasing, invoice discounting and crowd funding. Specific information will be given on how loans are assessed.

The trainers will give plenty of tangible examples of common reasons why loans are refused, and there will be reference made to the mechanism for appealing refused application, including the Credit Review Office.

The workshop costs €10 and takes place online via Zoom on Thursday, October 8, from 9.30 a.m. to 1.30 p.m. Part one runs from 9.30 a.m. to 11.15 a.m. and will focus on business planning. Part two, from 11.30 a.m. to 1.30 p.m., concentrates on financing options, bank requirements and MFI. See www.localenterprise.ie/Wicklow/ for more details.