Types and sources of enterprise support

Enterprise support is the help an entrepreneur receives when starting up or running an enterprise. Some support is financial, meaning money, and some is non-financial: advice, training, legal help, accounting help, networking and recruitment support.

Sources of support include banks and other finance providers, business angels, local council enterprise departments, accountants, solicitors, friends and family, Chambers of Commerce, government and charities. Many of these give both money and advice, so one source can meet more than one need.

Formal and informal sources

Formal sources are organisations, such as a bank, an accountant, a solicitor, a council, the government or a Chamber of Commerce. Informal sources are friends and family.

Formal support is professional and specialist but may be costly, restricted, or only available if you meet eligibility rules. Informal support is free and immediate but less reliable, because a friend may be biased or unqualified, so free advice is not automatically the best advice.

Money for start-up and expansion

Finance can come from banks and other finance providers, business angels, government grants, local council grants and some charities. Banks may limit how much they lend and the repayment period under their own rules.

For example, someone selling handmade phone cases at weekend markets might pay a solicitor to check a supplier contract and ask the council's enterprise department for a grant towards a market stall: two different needs, two different sources.