If you’re planning to start a new business, finances will be your biggest worry. There are different types of funding available for start-up businesses. We’ve listed a few different types of support available, we hope this helps.

Direct grant: There are hundreds of direct grant agencies in the UK, which can award you cash for many different reasons (employment, training etc). Don’t expect to have your business fully funded though, start up businesses are usually required to contribute 50% of the cost.

Equity finance: Basically meaning you give a share of your business away for cash. Depending on the deal you agree to, the stake given to the investor can be taken back after the value of the business reaches a certain figure.

Soft loan: A generous type of loan, the interest rates are usually very low or none at all. Just like direct grants, there are hundreds of different companies who offer soft loans, including the UK government with their ‘Start Up Loans’ scheme and The Prince’s Trust which helps young entrepreneurs aged between 18-30.