FundingStore Index Brings Positive News

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FundingStore.com has released its FundingStore Index for the first quarter of this year – with the entertainment and media sector leading the way by representing nearly 20% of all funding requests they have received.

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There is a definite surge of companies who are developing iPad and smart phone applications.

FundingStore.com has released its FundingStore Index for the first quarter of this year – with the entertainment and media sector leading the way by representing nearly 20% of all funding requests they have received.

Analysing the data from companies who have submitted Funding Requests using FundingStore.com’s innovative online facility, the FundingStore Index provides valuable information including how much funding is being requested, the busiest business sectors and regional activity.

Figures for January to March 2011 showed requests for funding ranging from £100,000 to £5million with an average request of £600,000, which represents an increase from the previous average of £388,000. The largest number of requests came from the South East of England with a 52% share ( 25% of which were from London). The busy North West came in second place with 17%.. Overseas funding requests represented 6% of activity, whilst the West Midlands represented just 3% of the requests made.

FundingStore.com was founded by Nick Montague, a chartered accountant with almost 30 years advisory experience. He explains:

“It’s been interesting to see that although entertainment and media lead the way with 19% of requests, internet-related businesses came a close second with 17%. The other sectors were fairly evenly represented, but there is a definite surge of companies who are developing iPad and smart phone applications.

41% of funding requests came from business start-ups, and we expect this to increase with the current wave of redundancies across the country, but there is significant activity within existing companies too – 28% were in their early stages, 27% were existing businesses where funding was needed for growth or refinancing and 3% were seeking help with acquisitions.

Our Canadian site is launching next week and it will be interesting to compare the statistics across the two countries in time.”

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Clare Low
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