Funding your business
Setting up, or growing a business requires funding. Whether you are looking to purchase a pub or restaurant, looking to refurbish a retail outlet or simply expand your existing business, it can be difficult to get the necessary finance – especially with the banks’ unwillingness to lend to small businesses in the current climate.
Before you look for funding
Before you look for funding for your business there are several factors which you would want to take into consideration.
Identify what the funding is for
In some cases, the answer might be obvious – for example if you are looking to buy a pub, then it is likely that you are looking for finance to help with the purchase. There might be other costs which you wish to consider, such as additional refurbishment costs.
Decide how much funding you need
As well as the headline figure, you need to factor in contingency costs and think about how much of a cash contribution you may be able to put forward. Sometimes, you might need to be flexible – it is worth thinking of the minimum and maximum loan size that you would be after depending on your criteria.
Is the proposition viable?
This is the most important question to answer before you look to purchase a business, or carry out an expansion project with an existing one. You need to know all the necessary details of the proposed deal, including all the financial information, such as the total turnover, expenditure, and tax details, all the information about the property.
Ensure you have a plan in place
It is all very well to say that you will increase turnover, or that the refurbished premises will help to double business – but unless you have a plan in place then you won’t be able to achieve your goals. As the old saying goes “failing to plan, is planning to fail”. As well as the financial plan, you should also know how you are going to link this in with your marketing, and day to day activities to ensure that those projections can become a reality.
ASC Finance for Business
As mentioned, looking for business finance in the current climate can be difficult. Luckily, ASC are here to help.
ASC Finance for Business helps businesses and entrepreneurs, throughout the UK obtain finance. We specialise in arranging business finance for business people. Having been established for over 40 years our track record speaks for itself, with thousands of business owners and entrepreneurs having benefitted from our service.
We concentrate on raising business finance so you can concentrate on running and developing your business.
Why should you speak to ASC?
At ASC, we believe that small business owners want to have somebody to talk to about their business finance. While the traditional bank manager has disappeared, and been replaced with call centres, ASC have a network of over 20 regional offices nationwide. Each office is run by an experienced ASC Director who is dedicated to helping you achieve your goals, to obtain commercial finance or business loans which work for you.
ASC work closely with an extensive and trusted panel of lenders including high street banks and specialist finance houses; all of our lenders focus on commercial finance and business loans. We are able to access these decision makers on your behalf and know how to present your proposal for finance to ensure that your application will receive the highest level of consideration, and that you obtain the right finance for your business.
Want to find out more?
Contacting us is easy – you won’t be put through to a robot. Just call us, to speak to an experienced, and local ASC Director who with guide you through all the finance options available to you and your business.
We offer a no obligation face to face meeting with your local director, to discuss your business finance needs and how ASC can help you get the right finance for your business.
You can contact us by clicking on the link below. Please mention that you found us through UseNumberOne, as we have negotiated special discounted fees for their members.
You can also click on the links below to see some examples of how we have helped small businesses, and how we might be able to help your business grow: