GREAT business ideas, clearly articulated and supported by a sound business plan will always attract funding. But owners looking to fund high-growth businesses must take stock, review all the options and make sure they make the right decisions.

Although the availability of finance is improving as the economy strengthens, lenders remain conservative and there is clearly a trust gap that needs to be filled. Banks are ready to lend, but they need to fully understand and believe in the opportunity.

High-growth businesses often provide innovative products and services presenting better solutions than established alternatives.

Yet there must be clarity in communicating these ideas. Business plans should provide supporting evidence that the new products are well- received by the market.

Highlight your team's track record: Win confidence that you have the experience and know how to deliver the growth performance that you are proposing.

Find the right specialists to review your business plan and test your ideas – and make sure it all stacks up.

You will be seriously questioned by lenders, so make sure that you have carefully prepared.

Consider all the options available for raising the finance you need to fund growth strategies. Lending secured by assets – such as invoice discounting or factoring – is a popular funding approach for individuals growing businesses, or there is equity finance – a way of raising share capital from external investors in return for a share of the business.

You might approach local "business angels"; wealthy individuals providing equity finance. Business angels often make their own skills, experience and contacts available to the company.

There are many organisations that can help provide advice for businesses looking to fund growth. Business Link supports firms of all sizes. There is also a specialist programme, entitled Understanding Finance for Business, funded by the ERDF, for businesses with a turnover in excess of £1 million. This comprises specialist workshops, tailored events and one-to-one business coaching and mentoring.

For more, call 0117 2020 199 or see www.growthsouthwest.co.uk.

How difficult is it to raise finance in the current market?

It remains really tough borrowing money. But you can achieve it by putting forward a compelling business case. This has to be well prepared – it needs to be watertight.

What is the attraction of equity finance?

It's not just about getting your hands on the cash needed to grow. A vital appeal of equity finance is getting access to an experienced investor, who can bring insight to your business.

Benefits include access to the investor's contacts. They can help you shape your business model and avoid making mistakes. An equity investor can help you get where you want to be more quickly. It can be more appealing having 70 to 80 per cent of a bigger business rather than 100 per cent of a smaller one.

What are equity investors looking for?

Investors will often be looking for opportunities in markets that they have experience of. They will want to see a compelling value proposition – what customer problem does your new product or service solve?

They will want to understand it in a market context. Is there a niche market here that the product can fill? Is there a sufficient market in the niche to sustain the projected business growth?

Making the right first impression demands robust financial projects. Investors will be able to sift through a range of opportunities before shortlisting businesses that they will take a serious look at. They will quickly dismiss candidates whose numbers don't add up.

The chemistry between the business owner and equity investor is also important – they will want to fund individuals they feel they can get on with and work well with.