Are you thinking about starting your own games studio but are unsure about the types of funding that is available to you?
In this short video Alisdair McNaughton, Corporate Finance Manager here at Henderson Loggie shares with you some of the routes that you could take to help get your games studio off the ground.
Covered in this video:
► The types of funding available to you
► Competitions & Grants
► Other sources of finance
*Edited video transcript*
A number of people of asked me, where do I get funding to start building my own computer games. Well, we’ve helped a number of computer game companies over the years, and this is great, this is the start of the process. But unfortunately, there’s no magic wand. There’s nobody giving out free money. In fact, a lot of the traditional lenders are unwilling to lend because there’s nothing physical to secure against. But there are options, there’s things that you can do.
How can I get help with funding?
Do you have any of your own money? Savings or borrowings? Do you have family or friends that you could ask to lend or invest? Can you get a job and work, full time or part time, to supplement the income? Can you do contract work, and keep that work in a similar sort of field?
Competitions & Grants
There are competitions and grants out there, such as Scottish Edge, UK Games Fund, or Innovate UK. Great sources of funding, but competition for these tends to be fierce, and there’s a lot of admin hoops to jump through. The key, particularly at the start, is to keep the costs down as low as you can. Do as much of the work as you can yourself. If there’s a skills gap, something you can’t do yourself, do you know somebody who’s willing to join the team at the start and bridge that gap for you?
Other sources of finance
As your games and your reputation grows, other sources of finance will open up to you. You might find the Sources of Finance for UK Games Companies report, published by TIGA last year, useful. It has examples of funders and people that have been through the funding process. It’s hard work, but it’s not all doom and gloom. There are funding options available to you.
Any questions about funding?
If you have any questions, please get in touch by completing the form below.
The information is this video is of a general nature and seeks to highlight some of the issues which could be affecting you and/or your business, including changes to financial regulation and legislation. Viewers should not rely on this information without seeking professional advice on its application in their circumstances.