Pete_W6 months ago

bouncy16 said: ↑ i had hoped to grow it this year however one major thing held me back finances.... although i have ticked over this year just fine and have managed to grow organically again, however i have also lost a LOT of work/business due to simply not having what the customers want!Click to expand... Step back and think about this carefully. How much of financing would you have needed to cover having what your customers want? How much more would you have made if you were able to provide those customers what they wanted? Do you have real numbers? bouncy16 said: ↑ i cant borrow anything in my own or ltd company name due to other reasonsClick to expand... What other reasons? If the business opportunity really does exist and the numbers add up then finance is always available! Always.  

Col Minessota5 months ago

Hi Everyone, I'm an experienced director in the services space and I'm seriously considering leaving the corporate world and buying/growing an existing services business. I am interested in understanding financing options. I don't have any assets that I could use as security (I'm a tenant) but I would need to finance the purchase. We would be talking finance in the 300-500K range. The businesses that I am currently looking at have a strong profit position and the repayments of such a loan (assuming sensible interest rates) would be easily manageable - notwithstanding anything that crops up during due diligence, of course. This is obviously fundamentally different from a pure startup, but information on this kind of business purchase is reasonably hard to come by from a financial perspective. I've obviously seen the theoretical support offered by the ELG, but that pre-supposes that banks are likely to say yes. All help gratefully received. Thanks!  

Mary4 months ago

Do you know that by using barter, you can enjoy an interest free overdraft? Barter is used all over the world by all sizes of businesses to protect their cash positions by using their own goods and services to purchase what they need/want. In these difficult times, when banks are not lending, don't feel that all doors are closed. Barter isn't the answer to all financing needs, but it is a useful business tool, that, when used properly, can provide substantial benefits to your business.  

Bri19874 months ago

The financing channel looks at the different funding small business options available to new and established businesses. Read a wealth of guides and tips to help manage your accounts and cash flow better, views on the future of business banking and where to source alternative finance.

MechExp4 months ago

Hubby and I have been company directors before, but for various reasons both our previous companies failed during the recession. We've had our fingers seriously burnt but both feel like we've learnt a lot from the previous failures. During the latter stages of my hubby's company, we made the first tentative steps in setting up our new venture, but pulled back at the death due to a lack of available financing and a general lack of appetite for businesses based in the property market. Five years on, we're still up to our neck in debt (although we're finally in control and things are progressing in the right direction) and neither of us are relishing our current employments. Essentially, we want to be masters of our own destiny again and still fervently believe we have the core of a great business ready to go. So, in our current rather dire financial circumstances we have £0 capital to invest in our new venture (we're looking for £40k). The banks undoubtedly wouldn't touch us with a barge pole and we've tentatively tried the friends route with little else to show than lots of positive feedback. If you've read this far, thank you for your effort and can anyone suggest any possible sources of finance??  

Mary4 months ago

When working from home, small business owners will need to consider business rates, bills and expenses in their financial management. Find out how these expenses will affect your business’ finances with these informative articles on financing your home working.

Watergirl4 months ago

@VKVP do you provide your customers credit terms and if so do you have money currently held up in your book debt? If this is the case then I can certainly assist in providing an Invoice Financing Facility. If you would like to discuss further please feel free to give me a call on 07793 221260.  

Mary4 months ago

Invoice financing can be a useful way of assisting cash flow by releasing cash tied up in outstanding sales invoices.Invoice financing can be particularly beneficial for businesses that have a turnover of more than £100,000 and which issue a large number of invoices, or large value invoices. It’s usually only available for businesses that trade with other businesses, not the public.Informi is the online community for small businesses, start-ups and sole traders. Sign up today at https://www.informi.co.uk/

Col Minessota4 months ago

AverageWhiteBloke said: ↑ The original question still remains I guess. If operating in the construction industry is going to require financing to get me through until they pay which, it appears is never going to be when they are supposed to! What options are available? What are the best options between using bank over drafts, optional invoice credit etc? Ian if you have some ideas you think may be of interest let me know and we can discuss this privately.Click to expand... Bank overdraft is normally the cheapest type of funding for working capital but the two problems with that type of finance is that a) it's locked to available security and doesn't increase with sales and b) the banks don't want to give small businesses overdrafts anyway. Factoring or invoice discounting comes into it's own with expanding businesses as the availability of funds increases in line with sales. The construction industry isn't particularly popular with factors but there one or two that will entertain the industry but perhaps single invoice invoice factoring might be appropriate as there is no contractual period, you can dip in and out of it as you need to and there are no minimum fees payable. If you want to discuss the options in greater detail please feel free to either give me a call (number is on website) or Pm me some contact details and I will happily ring you. I assume that you're not in a desperate hurry seeing as most factoring companies have other things on their minds right now and it's better to speak to speak to them when they are sober - or is it  

Matchmaker14 months ago

One of the biggest issues with small business financing is the amount of jargon that comes with it. Complicated APRs and terms and conditions can all cover up the true costs. Make sure you know exactly where you stand with a provider which can give you a straight fee.

petHead4 months ago

Knowledge is when you understand that a kettle boils water; wisdom is when you understand that you shouldn’t use it to cook pasta. Subtle distinctions and smart application are what separate a company that’s surviving from another that’s flourishing, and this is where business financing options from lenders such as Hitachi Capital Invoice Finance become invaluable.

Gary19964 months ago

Hi Peeps, Its nice to see our little community is starting up again! Regarding the startup financing/grants help with business plans etc etc. Dependent upon where you are in Gods Land, I can give you contact details for a fabulous little outfit in Swansea that helped me immensley.....all those years ago (lol) and i'm still going so they must have done something right. (To the site moderators!!!! I have no affiliation to the company that I am suggesting, I am merely putting forward to those who need the help their contact details if they pm me - thus no names are mentioned in the open forum.........pretty please with sugar on the top....... don't give me a strike) As per above if you want more info and are in the right area (Swansea/Neath Port Talbot/Llanelli) then drop me a pm for further info Cheers Bluelight  

R2_Amazeballs4 months ago

For entrepreneurs who have ever had questions such as how does VAT work, What are the pros and cons of leasing or buying equipment for my business, or what is invoice financing, a new online resource, Informi, may be the answer.

Fionas_Boy4 months ago

Hi there, We've been developing a property privately and hope to sell with a good profit margin - this has been a good test for us to see if we could do it as a business; something we've always wanted to do. If we wanted to start a property development business, instead of doing it privately, how would we go about financing the properties? (Hoping to do more than one at a time). Is there a specific type of mortgage that covers developing costs as well as price of the property, for example? Any help much appreciated.  

R2_Amazeballs4 months ago

Hello, Me and my business partner are currently in the process of setting up a dessert restaurant (waffles and milkshakes). We don't have the funding to finance the business yet and we require roughly around £85k to get the business started up. Selling equity isn't an option as we just have an idea and also the predicted revenue wouldn't be high enough for selling equity to any VC. Our age plays a major factor in seeking any private investors as we are not at the age of 'reliable' but we do have experience in business as we have set up several small sized ventures. We didn't want to give any equity away and we have no other sources of funding to finance the business so a business loan is the only option we have at the moment. We can get a business loan of £50,000 at the APR rate of 12.34%. The problem then leads to the additional £35,000 - we was thinking about using a credit union to secure the rest. But then we may need additional financing in the follow up years based on our financial forecast and that wouldn't be a smart move as we wouldn't want to put ourselves under pressure when it comes to paying back a loan. Because as you know a loan is under our name and wouldn't be under the businesses. We have a great business model - and the perfect location. We just need to sort out the financing and not jump into something without fully preparing. I just need some help on what I should do?  

Gary19964 months ago

Back at n the day (the 70s & 80s, my childhood, not exactly pre-history) we rented appliances because you either had to (phones, you couldn't by a phone, you had to rent it from BT) or you couldn't afford to buy them e.g TVs As soon as, a, deregulation happened and b, prices came down/wages went up, we all bought them outright. I don't think renting is a positive choice, more often than not it's a choice out of necessity. As an aside, isn't most new car financing a bit like renting?  

MDG Ltd4 months ago

I am looking for a business partner for a unique Start up in the health/travel/sport market place. I have track record having done several start ups and business purchases over the years. Although this is a start up where there is potential for folding some of my other businesses under the new company giving it instant revenue and profit. This start up will be difficult, they all are but this will will be especially so, however the upside is interesting. Potential partner requirements 1. Strong experience in marketing or operations suitable to this business model. These 2 areas will be split between us. 2. Ability to work on this all day every day 3. Ability to work in or travel to Spain a lot 4. Strong interest or history in travel/health/sport 5. Financially independent as everything earned will be reinvested until initial targets are exceeded 6. Have run a business before 7. Have up to 6 figures investment cash which I will match ( this will be lodged and drawn down as required). However the start up costs are very low, and self financing in many ways as all client payments are in advance) 8. Up to 50% share holding available ( if I fold my other businesses into this project investment required will be increased as you will instantly have a large share of a profitable business) For outline of the dream, yes all start ups are dreams read my profile here Please pay strong attention to Para 10 of profile as without achieving that this project, all though still a business of scale , will not be what it can and needs to be.  

Fionas_Boy4 months ago

I have previously refurbished three properties - all were self-financed. I'm now very keen to take on more expensive properties as fairly straightforward refurb/development projects - I'm specifically looking at London flats at around £400k purchase price, with potential yields of around 25-35% once resold. I would hope to contribute around 1/3 of the total purchase and development costs in cash. As the majority of stuff I'm focusing on is sold at auction, I'm wondering if there are finance options available for both purchase and development which don't tie one down to a specific property - I've previously hoped to buy at auction where bidding has gone beyond my limit, so it's not helpful to have the financing arrangements on the day based around one property. It seems the usual approach is to arrange bridging finance for the balance of the purchase price and then obtain development finance, incurring two lots of fees and interest. Could anyone suggest what other options might be available to me?  

Pete_W4 months ago

Hi, I don't run this, but I do attend and thought it might be useful for some people. It's less about formal networking and more about having a drink and a good natter and getting to know who is in the industry in Sheffield. The meetings are every other month in The Psalter at 7PM. You don't have to be strictly IT, you could be in a supporting industry i.e. you deal with financing IT equipment etc. More details can be found on the LinkedIn group: Sheffield Technology Network Would be nice to see some more new faces there - and I know Craig (the organiser) would like to see some fresh faces as well (Think he's getting sick of seeing me every time ). Cheers,  

MechExp4 months ago

If you’re a growing enterprise looking for funding, there are lots of sources available, from small private lenders to corporate financing, and even corporate venturing. Growing Business has put together advice on the most common sources of alternative funding, so you know where to look and how to pitch for it.

Pete_W4 months ago

> Keywords: Small business, entrepreneurship, social entrepreneurship, crowdfunding, financing, fundraising, capital, Jumpstart Our Business Startups Act, JOBS Act, CROWDFUND Act, Securities Act of 1933, Sarbanes-Oxley Act, Kickstarter, Securities and Exchange Commission, Financial Industry Regulatory Authority

Col Minessota4 months ago

London has long been the darling of the European start-up scene, with its entrepreneur-friendly legal infrastructure and robust financing options. And …

Watergirl4 months ago

>One of the biggest issues with small business financing is the amount of jargon that comes with it. Complicated APRs and terms and conditions can all cover up the true costs. Make sure you know exactly where you stand with a provider which can give you a straight fee.

MDG Ltd4 months ago

Raising funding for your small business is one of the first hurdles that a new entrepreneur may face. Take a look at all the small business financing options and advice in this section, from grants and loans to outside investment, to help you decide the best way to raise finance and fund your small business.

MDG Ltd4 months ago

The banks say they are lending; businesses see otherwise. We talk to both sides about the reality of financing hopes for enterprise this year.

Col Minessota4 months ago

Asset based lending can be an alternative way to free up cash in your business. Find out how it all works and whether it is suitable for you with our extensive information on small business asset finance, invoice financing, factoring and much more.

Watergirl4 months ago

Financing

Hello All I am considering being a pertner in a new business where I would be financing the project and some one else would be doing the work. (dental clinic) I have no idea where to begin. Would a limited company be better than a partnership? what percentage of proffit I should expect, If I should take a wage etc Would my bank (Natwest) give advise or do they only help if you are after a loan?  

FordOwner4 months ago

Invoice financing or releasing cash against your assets could help you improve business cashflow and give your growing business a quick source of capital – but you need to be fully aware of the risks and potential complications before you commit. Growing Business has advice and information about invoice discounting, invoice factoring and asset finance to help you make up your mind.

Mary4 months ago

Find out about all the financing options available to small businesses. Below, there is expert advice on ways to fund a business – including bank loans and equity finance – plus advice on pitching for funding for your start-up business.

Red4 months ago

class="hide" id="keywords_2234765">Entrepreneurship, Innovation, Venture Financing, Strategy, Crowdfunding

MechExp4 months ago

Before you go down he route of commercial financing like Zopa, try the banks using their SFLGS, now renamed but they should be applied for if you have no assets or bad history. Failing that, and there is a real chance you wont get it, dont get tied down with loans. Work it through with a business link advisor, or grow it organically  

Watergirl4 months ago

We successfully match small businesses like yours to different loan providers every day. Whether it's business loans, commercial mortgages, invoice financing, asset leasing, growth finance or something else, we can help. Our technology is second to none when it comes to matching the needs of your business to the lending market.

MechExp4 months ago

A few years ago my company was started with another director who at the the time had 51% of the shares and I had the remainder. During the first 6-8mths that director had little or nothing to do with the company other than providing credit through his company for startup costs engineering etc. In a matter of 8mths the other director resigned due to a breakdown between ourselves he basically accused me of stealing and left the company standing without funds or income. It was agreed that once the company had paid his company back the monies owed he would return the shares, this did not happen he only returned 26%. Since resigning he had had nothing to do with the company and it has had some very large ups and downs. The last being a loss of over £100,000 due to a non paying customer. I am now financing the company through personal credit and am owed over £100,000 by the company. The company has some assets worth around £60,000. I have asked for the shares either to be returned or purchased but was rebuked and then told I would need to pay £15k to get them back. I am the only other shareholder with 75% and I'm the managing director, his shares remain unpaid can I simply forfeit his shares? I am stuck financing a company personally earning very little money and have a shareholder waiting in the wings to demand there share if the ever is one. Please help  

Red4 months ago

Import Expert said: ↑ Deposit required Q. I have ordered some goods from a manufacturer, but they want part of the payment up front. Is this a scam? A. No not at all. If a supplier is manufacturing a product for you, they will want part payment up front. Firstly, to show you are serious (it is a non-refundable deposit after all), and secondly to pay for materials. More than often the deposit will be 30% with the remainder due on completion of the order or prior to delivery/release of bill of lading, etc.Click to expand... Let me add something to this particular thread. Chinese suppliers (especially small ones) sometimes tend to be rather tricky in negotiation process. Our long-term partnership with China market shows that Chinese suppliers are ready to consider letter of credit form of payment even with post financing due to a huge amount of competitors. Surely the upfront payment is not obligatory a scam but do not forget that you are taking a great risk all the same. It's much more safer to use insurance means the banks and other financial institutions provide, such as letters of credit, export insurance and structured trade finance solutions. One must also have a good trustworthy agent or lawyer in China who is capable of providing due diligence procedure concerning your possible supplier. Alex Bukovski, Overseas department finance manager, Liston Financial Group, Inc.  

Matchmaker14 months ago

Hampshire Trust Bank is focused on financing commercial customers based on best principles in relationship banking, delivered by experts in their fields. We also offer competitive savings accounts to individuals and businesses.

MechExp4 months ago

Merchant cash advance is an arrangement as a lump sum payment to a business in exchange for an agreed-upon calculation of future credit and debit card sales. Merchant financing can be describi…

Mary4 months ago

Anyone know anything about this? My friend is a haulier and has a few trucks but he's struggling to pay his staff up front and has some big contracts up and coming. I mentioned financing the invoices but we don't know too much about it. Turnover is under £1m. Any suggestions?  

Watergirl4 months ago

Why do some businesses grow faster than others, and how do they choose the right financing to grow? From venture capital to bank finance, read the latest on how to make the most of the funding options available to you, as well as the issues affecting the sector today.

petHead4 months ago

After financing, two of the biggest reasons that new businesses fail are a lack of suitable knowledge and the failure to plan correctly. Decisions that can affect start-ups several years into the future are made early in the process and can be based on poor advice, hearsay or a guess! The One Day Challenge was created to guide trainee entrepreneurs through the maze of requirements, obligations and obstacles that most will meet on their journey. In the form of an eight hour Bootcamp, participants are presented with and taken through all of the key startup and growing issues with the guidance and direction required to remove or reduce the chance of potential failure due to lack of knowledge. The One Day Challenge Bootcamp not only gives intensive guidance and advice, but also leads participants into constructing a Bootcamp Business Blueprint. A focused style of business plan, the Blueprint can then be entered into the One Day Challenge Award, where the best written Blueprint, most likely to succeed, receives over £2000 of support. This unique award differentiates the One Day Challenge from other courses or training seminars. Devised and presented by working entrepreneurs, not consultants or people without practical experience, most of the guidance is offered after first hand experience. The first Bootcamps have been confirmed on August 10th, September 10th and November 3rd at the O2 Workshop, Tottenham Court Road, Central London. Costing £20 for the day, bookings can be made at www.onedaychallenge.co.uk  

Mary4 months ago

I know this is cheeky but I have to say that the HSBC Knowledge website is incredible! http://knowledge.hsbc.co.uk The finance section is particularly helpful in understanding managing your cashflow. http://www.knowledge.hsbc.co.uk/plan/your+finances/financing+your+business I'm just about to use the business planning template to procure a small loan from them.  

Mary3 months ago
This topic has been discussed elsewhere
- see here