Charles van der Lande, Partner at Roxburgh Milkins shared with Business Leader, his scale-up business opportunities in 2021.
2020 may not have been the year we all imagined, but scale up businesses seem to have been more resilient than most. In fact, one of our key sectors – technology – has seen the number of scale ups almost double, according to a Beauhurst & Scale Up Institute report. The benefits of that growth include creating more jobs and shows signs of increased diversity too.
However, there have been challenges for all scale ups, particularly when it comes to funding. Opportunities for access to capital changed, with the Future Fund offering matched funding and Innovate UK grants also becoming more popular. Whilst Future Fund applications have now closed, the scheme will remain under review and we will continue to help clients keep up to date on the options available.
So what other considerations are there when you are looking for funding in these circumstances? A number of our clients have completed funding rounds or exits successfully this year, and the common factor has been that of managing expectations. Whilst we would all like to be back to business as normal, the ongoing situation means that you should expect changing timescales, valuations and risks – along with adapted processes. Technology itself can come to the fore here of course, with remote discussions and documentation all having become the norm.
Scale up businesses are often fast moving and may want to accelerate their growth as the pandemic impact continues. The key is to ensure your relationships with investors and advisors are nurtured as much as you would do in person, and then the opportunities can still be maximized. Trusted advisors will be able to help you navigate that balance of risk and opportunity, so look for specialists in your sector or that you know will understand your particular needs.
As a niche law firm ourselves, we work with a range of other specialists who all function as one team for each project to deliver exactly what’s needed. We believe that this flexibility will help guarantee success for our clients in these continually changing times.
For more information on funding options, please give us a call.
T: 0117 928 1913