Pictured above: - 'Speakers at the Harbour Key business seminar at the Hatherley Manor Hotel' (l-r) Terri Stevenson - Client Manager Gloucestershire and Wiltshire, Fredericks Foundation, Philip Mitchell - Partner Harbour Key LLP, Paul Bryant - Beer and Partners , Simon Sheldon of Harper Sheldon Accountants a trustee of the Fredericks Foundation and William Cookson - Partner Harbour Key LLP 

The first in a series of free briefings  for local businesses and entrepreneurs, took place last Wednesday at Hatherley Manor Hotel, hosted by Harbour Key, a new specialist tax and business consultancy practice in Gloucestershire.

"Funding is a real issue at the moment, particularly for start-ups or during the growth stages of a business, but there are options available other than the banks", says Phil Mitchell, co-founder of Harbour Key. Phil opened the event, entitled 'Where can you go when the banks shut their doors?' with a presentation on tax-efficient methods of investing and raising finance.

This was followed by advice on working with a 'Business Angel' from Paul Bryant, of Beer & Partners, a Business Angel Brokerage.  Every year Beer & Partners consider in the region of 9,000 business plans from people looking for funding.  

The audience finally heard from Simon Sheldon, of Harper Sheldon Accountants, a trustee of the Fredericks Foundation. The Foundation is able to make loans to start-ups and existing businesses, which are finding it difficult to obtain a loan from a bank. The trust also administers the South West Investment Loan Fund which can authorise loans up to £50,000 locally and £250,000 regionally. Terri Stevenson, one of the trust's local fund managers, explained the 'Community Investment Tax Relief' scheme. The scheme enables investors to make loans to the Foundation and receive 25% tax relief benefits over five years. Terri's personal commitment to the Foundation is a sponsored 100 kilometres trek across the Namibia Desert, with all money going to the Fredericks Foundation. Terri can be sponsored at www.justgiving.com/terri-stevenson.

Steve Jones, financial advisor at Bees and Co (LLP), and representing one of the 30 Gloucestershire businesses in the audience, said "Harbour Key pulled together an interesting and innovative briefing with something there for everyone."

Harbour Key will continue its series of business briefings later in the year and welcome more local businesses to join in.  Harbour Key was established in February this year by Phil Mitchell and Will Cookson. The firm has offices in both Cheltenham and Cirencester.