Going it alone in business can be the best feeling in the world; you are your own boss, master of your own destiny and in control of everything – including the finances. As a sole trader, you have to wear many hats and quickly need to become an accountant, an HR professional, marketer and director, […]
So you have a great business idea which you believe will be successful. The only drawback is that you need to borrow money to purchase supplies or simply to buy time for the business to generate sales and become self-financing. Whatever the reason for borrowing money, it’s likely that you will be asked for a […]
If you ask around, you’ll find that some element of external finance now forms a key part of many business strategies, and if used correctly, it could even mean the difference between failure and success. Yet for some business owners, seeking funding for their business can still seem like a rather big and daunting step, […]
Cash flow management is a crucial part of running a business. Keeping track of your outgoings and income can help you understand your business’s cash flow pattern, and identify potential gaps early on. In this case, maintaining healthy cash flow levels comes down to a simple rule: reduce your expenses or increase the money coming […]
Running a business can be difficult, and the retail industry is no exception, with external market forces that are impossible to control and tricky to plan for. It could be that an extra injection of cash is needed to help you achieve growth, plug a cash flow gap or get you through an unexpected tough […]
Business finance comes in all shapes and sizes, and while this can make it a tricky area to navigate, you can also use it to your advantage. Refinancing involves either consolidating debts, or raising cash using the assets in your business. In this article, we’ll have a look at these two main areas of refinancing […]
In this final part of the series, you’ll discover how to conduct yourself when meeting the bank manager to discuss your application for your start-up business loan. Read Part One: How To Apply For A Business Start-Up Loan Read Part Two: How To Apply For A Business Start-Up Loan Part 2 – Tell Your Story […]
When you are starting a new business venture, it may seem daunting applying for a start-up loan. The first place business owners generally turn to is their bank. Banks have a major role to play in business funding and despite any adverse publicity banks have received over the years, they are still the primary source […]
Funding a business can be difficult. When there are problems, it can be incredibly hard to convince bankers or other finance institutions that your business is worth backing. The key here is to ensure the primary function of the business is working well i.e. that it is capable of continuously attracting, creating and retaining a […]
One of the keys areas I’m regularly asked to comment on or assist with is how to apply for funding for small businesses. This involves sourcing many different types of funding depending on the circumstances at the time. Most business owners are familiar with funding supplied via the bank, in particular overdrafts and loans, although […]