Financing Startups in Northern Ireland

Starting a business in Great Britain, and more specifically, launching a startup in Northern Ireland, requires having a financial cushion. Nowadays, we’re witnessing a new trend whereby greater emphasis is being placed on cooperation in the field of startups. Hence, opening a company in Northern Ireland requires close cooperation with local investors

What Makes Northern Ireland Attractive?

Having a growing young population & one of the world’s best education systems, Northern Ireland is known for its ingineous entrepreneurs & high skilled workforce. The country’s a recognized leader in developing cutting-edge technologies, fintech & cybersecurity. And its office space rental rates are one of the cheapest in Europe & the US.

How Do Startups Get Financed?

Providing financial support (or grants) to startups is guaranteed by the government. There’s quite a few organizations that can offer advice & provide access to grant funding in Northern Ireland. Therefore, entrepreneurs looking to obtain funding in Great Britain can count on all-round support in this regard.

Northern Ireland: Government Loans & Venture Funds

Those planning on engaging in investment activity in Northern Ireland have plenty of opportunities to do so. In particular, they can receive debt financing from different funds specializing in extending loans at low interest rates. They can also seek financial assistance from angel investors & all kinds of other private investment entities.

Raising Venture Capital

According to the report released by Catalyst, an NPO promoting the growth of small- & medium-scale enterprises, local investors accounted for the bulk of venture capital invested in Northern Ireland-registered companies. Northern Ireland-based VCFs prefer to invest in technology-oriented startups. All in all, there’s no shortage of local investors willing to provide venture capital for financing startups in Northern Ireland.

Can Venture Capital Be Attracted From Other Countries?

According to Catalyst’s report, thirty nine percent of transactions concluded in two thousand eighteen involved at least one investor from abroad. It also claims that the percentage of venture capital from abroad slightly increased. All these factors make investing in Northern Ireland or opening investment companies in Northern Ireland an even more attractive proposition.

Crowdfunding

This is a great way to raise funds for a startup business. Local companies can raise funds through a number of crowdfunding platforms. There’s even a crowdfunding platform for female entrepreneurs called BHB (or Back Her Business).