Invest NI’s Finance Voucher Scheme is designed to help eligible Northern Ireland businesses access external financial expertise to support their growth and development. It aims to bridge the gap between businesses needing specialized financial advice and the cost often associated with obtaining it.
The core offering is a voucher, which provides funding to cover a portion of the costs incurred when engaging an approved consultant for financial advice. This allows businesses to tackle specific financial challenges or opportunities with the help of experts.
What does the scheme cover?
The Finance Voucher Scheme typically supports projects addressing a range of financial needs. This can include:
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Financial Planning and Strategy: Developing robust financial plans, forecasting, and implementing effective financial management strategies.
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Funding and Investment: Assisting with identifying suitable funding sources, preparing investment proposals, and navigating the investment process.
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Business Valuations: Obtaining accurate and reliable valuations for business sales, mergers, acquisitions, or restructuring.
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Financial Due Diligence: Conducting thorough financial investigations to assess risks and opportunities associated with potential transactions.
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Costing and Pricing: Improving costing models, pricing strategies, and profitability analysis.
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Financial Systems and Processes: Enhancing financial systems, processes, and controls to improve efficiency and accuracy.
Eligibility Criteria
To be eligible for the Finance Voucher Scheme, businesses typically need to meet certain criteria. These often include:
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Being a Small or Medium-sized Enterprise (SME) based in Northern Ireland.
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Demonstrating a clear need for external financial expertise to address a specific business challenge or opportunity.
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Having the potential for growth and job creation.
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Not already receiving significant levels of financial support from other government schemes for the same activity.
Benefits of the Scheme
The Finance Voucher Scheme offers several benefits to participating businesses:
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Access to Expert Advice: Enables businesses to tap into specialized financial knowledge and expertise that they may not have in-house.
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Reduced Costs: Significantly reduces the financial burden of engaging consultants, making expert advice more accessible.
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Improved Financial Performance: Helps businesses make informed financial decisions, optimize financial management, and improve overall financial performance.
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Growth and Development: Supports businesses in pursuing growth opportunities, attracting investment, and achieving their strategic objectives.
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Enhanced Competitiveness: Strengthens businesses’ competitiveness by improving their financial stability and strategic decision-making.
The Invest NI Finance Voucher Scheme is a valuable resource for Northern Ireland businesses seeking to enhance their financial capabilities and achieve sustainable growth. By providing access to expert financial advice, the scheme empowers businesses to make informed decisions, overcome financial challenges, and capitalize on opportunities for expansion.
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