UMi, a leading business advice and funding solutions specialist, has reached a major milestone by unlocking more than £1 billion in investment for British businesses since its launch in 2007.
The funding, which includes grants, loans and private sector investment, has supported ambitious start-ups, growing SMEs and established companies across the UK including Scotland.
Working in partnership with both public and private sector organisations, UMi has been pivotal in helping businesses access the right support to innovate, expand, and in some cases, survive.
The achievement comes at a key time for the UK’s business community – the Government recently unveiled its Small Business Plan, a landmark package designed to help SMEs access finance, boost digital adoption, and strengthen leadership skills. UMi’s track record of delivering investment and support reflects and amplifies many of these national priorities.
In Scotland alone, UMi has supported the region’s growth journey for over 18 years having seen more than £150+m being invested in 19,752 businesses. This has played a significant part in SME growth within the regional economy as well as generating circa 500 local jobs.
One example is UMi Debt Finance Scotland, an investment programme which is aimed at boosting economic growth across Scotland by supporting SMEs with loans. The right funding at the right time can make a significant difference to those receiving support, and Hettie’s Tearoom in Pitlochry is a great example of practical finance solutions meeting aspiration.
After being in business for nine years, founder, Clare Pinchbeck, decided it was time to push on with growth plans, pursuing the dream to become ‘the happiest tearoom in the world’. Receiving a £49,000 loan to improve their offering, this saw them develop an ecommerce site, re-brand and purchase new equipment to increase the menu.
Clare commented: “We’d just raised funding to buy the Dunkeld bakery so I’d ‘ran out’ of mainstream sources of funding. I met with UMi’s Fund Director, and they understood me so quickly and got behind our business. They even encouraged me to go for more funding to help me realise all the growth plans I had. When you speak to bankers, they see is risk not potential, but UMi’s interest in my business was to help grow it and that was like a breath of fresh air.”
Nicki Clark OBE, Chief Executive of UMi, expressed her appreciation and enthusiasm for achieving this milestone by saying: “This is a fantastic achievement and a significant milestone for UMi as we continue to support businesses up and down the country and across all industries. Our teams do an amazing job working hand in hand with our customers to ensure they access the right funding solutions tailored to their needs. Reaching this milestone underscores our commitment to supporting businesses from the very start of their journey and helping them succeed.
“Since 2007, we have seen so many businesses go on to achieve great things because of the funding they have received. From launching and scaling up to delivering new products, services or driving forward innovation, we’ve witnessed first-hand the incredible impact these small businesses have had (and continue to have), with UMi helping to navigate the funding landscape and driving growth on a local, regional and national level too – it’s great to see.”
According to British Business Bank, 60% of SMEs struggle to access the right funding simply because they often don’t know how to navigate the process or what finance options are available in the marketplace. Whether grants, loans or investments, it can often be seen as ‘daunting’ and so dedicated services like UMi’s ‘Get Funding’ and ‘Sat Nav’ are vital to offer expert, step by step guidance and tailored ‘one-stop-shop’ support.
Nicki added: “Over the last 18 years, our teams have advised (and/or supported) close to 680,000 businesses which is remarkable, and it is this initial guidance that can make all the difference to business owners. We’ve purposely launched our own service – Get Funding, so that companies can easily navigate their funding journey and obtain expert advice and tailored one-to-one support as and when required.
“This one-stop-shop approach helps align our expert knowledge with a client’s specific needs, meaning funding solutions can be found and informed decisions made in line with their objectives and growth plans. Our Sat Nav platform then compliments this, providing business owners with tools and resources on many other business challenges, including funding, so the support doesn’t end once the money is in the bank.”
As part of the UK Government’s recent Small Business Plan, Minister for Small Business and Parliamentary under Secretary of State, Gareth Thomas MP, highlighted a boost for SMEs with new start-up loans and the most ‘comprehensive support package in a generation’ being launched to give businesses the tools they need to do more and drive economic growth.
UMi believes the move will further strengthen its offering too by encouraging more SMEs to seek advice and funding routes to help generate growth, create new jobs and deliver a sustainable economy where people thrive.
Since 2007, UMi has supported more than 680,000 businesses across the UK, investing £335m in grants and loans, unlocking £670m in private investment, creating or protecting 46,000 jobs and enabling contract wins worth £200m.
Across the UK, UMi’s work has not only helped businesses secure investment but has also created wider economic and social impact. From ambitious start-ups to established blue chip companies, the organisation helps businesses do more and go further by simplifying their journey and connecting them to the support they need.
