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Creative agencies can apply for cut-rate money advice

LONDON - Advertising agencies, including start-ups and established shops, could receive advice about raising money from a specialised consultancy at a third of the going rate, thanks to a funding scheme in London.

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The Access to Finance initiative aims to help businesses get financial backing for their ideas, or funding for future growth.

Funded by Business Link for London, the London Development Agency and the European Regional Development Fund, it offers agencies the chance to receive professional advice at heavily subsidised rates. For a start-up business, the grant can provide as much as 87% of the usual market costs, while existing businesses can get up to 75%.

All types of businesses are able to apply, including advertising, PR, design, marketing and digital agencies.

Pembridge, the consultancy that specialises in advising creative business on funding and business plans, will help agencies to apply for help.

Rose Lewis, a partner at Pembridge, said: "Any creative services firm needing finance should consider Access to Finance. We can help with all aspects of raising money -- from refining business plans to management development and private equity grooming."

Details of eligibility are available here and applications can be made through Pembridge.

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