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Finance of £10,000 to £250,000 can be surprisingly difficult to obtain. Banks generally require security and most venture capital firms are not interested in financing these amounts.
If you have decided to invest or reinvest in cars for your business, raising the money is unlikely to be a problem. Provided that you have the cash for the deposit, and a reasonable credit record, any dealer will arrange terms.
Exporting tends to be financially more demanding than selling within the UK. Consignments are usually larger, the lead times are longer, and the risks are more difficult to control.
Factoring allows you to raise finance based on the value of your outstanding invoices. Growing businesses, in particular, often find that factoring is a more flexible source of working capital than overdrafts or loans.
Hiring or leasing equipment is one way of making your working capital go further. Instead of paying out up-front, you can spread your payments over a set period, and benefit from the use of the equipment in the meantime.
Getting grant-funding could really help your business develop and grow. But even experts can find it difficult to keep track of the hundreds of different grant schemes which keep appearing – and then disappearing. This briefing outlines the kind of grants available to small and medium-sized businesses. It explains the criteria a project must meet to qualify for a grant, and the potential benefits - and pitfalls - involved in applying.
Many businesses find that importing requires greater financial flexibility and reserves than buying from a UK supplier. Rather than buying on credit, you often need to commit finance well in advance of taking delivery.
Overdrafts and loans are the most common form of financing available to businesses. Used properly, they provide a simple and effective way of financing the growth of your business.
If you have a promising business but cannot provide the security needed for a conventional bank loan, the Government’s Small Firms Loan Guarantee Scheme may be what you need. Alternatively, other supported loan schemes (loans subsidised by government or local agencies) may reduce your borrowing costs if you meet their lending criteria.
For businesses which are unwilling to increase their level of borrowing or unable to provide the necessary security, bank finance - in the form of secured loans and overdrafts - is not an option. If you cannot provide further capital from your own reserves, venture capital (also known as private equity) may be the answer.
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Finance (F)