Published: June 9th, 2026
Starting a business is one of the most exciting things you can do, but working out how to fund it can feel overwhelming. The good news is that there is more support available than you might think, and much of it is closer to home than you’d expect.
Here is a practical guide to the finance options available to businesses in Herefordshire, Shropshire and Telford & Wrekin.
Start with a government-backed loan
A British Business Bank Start Up Loan could be one of the most straightforward options if you are just getting started. Government-backed and with no application or early repayment fee, you can borrow between £500 and £25,000 at a fixed rate of 7.5% per year, repayable over one to five years. Successful applicants also receive free mentoring which can be just as valuable as the funding itself.
Support for young entrepreneurs
If you are aged 18 to 30, the King’s Trust Enterprise Programme offers one-to-one guidance, business planning support and access to start-up funding of up to £30,000, depending on eligibility and business viability. Post-launch support continues for up to three years.
Looking for investment?
For businesses with genuine growth ambitions, equity finance, where investors take a stake in your business in return for funding could be the right fit. The UK Business Angels Association can help you find angel investor networks, while the British Business Bank’s Finance Finder tool helps you identify the right type of finance and the providers that match your needs.
The Midlands Engine Investment Fund II
For Marches businesses, the Midlands Engine Investment Fund II (MEIF II) is one of the most significant opportunities available right now. A £400 million fund delivered with the British Business Bank, MEIF II provides debt finance and equity investment to smaller businesses with growth potential across the Midlands — including in Herefordshire, Shropshire and Telford & Wrekin.
Innovation and R&D funding
If your business is developing new products or technologies, the UKRI funding finder at ukri.org is a good place to search for grant opportunities relevant to your sector.
The options above are just a starting point — there are many more finance and funding routes available depending on your business type, sector and stage of growth.
There Marches Growth Hub offers free, impartial advice to businesses across Herefordshire, Shropshire and Telford & Wrekin. Contact your local team here.
Better still, join us at the Summer Funding Summit in Shrewsbury on 2 July 2026 — a free event co-organised with the British Business Bank, Shropshire Growth Hub, Invest Telford and the Shropshire Chamber of Commerce. Hear from funding experts and leave with a clearer picture of how to move forward.
Register for the Summer Funding Summit. Book now.
