OXFORDSHIRE businesses are being warned to be on their guard against a company offering information on grants at up to £400 a time.

Information officer at Business Link Heart of England Cheryl McDermott said: "One or two of our customers have told us of approaches made to them recently by a company offering to give them information about grants.

"There is nothing illegal in this, as they usually provide a list and the irony is that they often quote us as a source of further information.

"In the past some companies have fallen for this and we don't want to see people paying out £400 when they can get a better and more thorough service from us for just £20."

Cheryl added that grants were in any case not always the best way forward for companies seeking finance.

She said: "We also have a full financial services back-up and there are alternative ways of raising money than relying on grants from Government or other agencies, which are usually easier to get in areas of high unemployment."

Business Link Heart of England finance specialist Paul Coleman said: "I want to ensure that Oxfordshire businesses get the finance they deserve." He can advise companies on fundraising, business planning, financial structures, and sources of money such as business angels.

He added: "A large proportion of businesses have difficulty in accessing the finance they need to let them realise their potential. Others get rebuffed when they approach venture capitalists because they have not considered the implications of using risk capital."

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