You will find that setting up a new business brings many potential pitfalls. This is particularly so for the inexperienced or the unprepared. Not least of these challenges is the matter of adequate finance. You must do everything possible to start with enough funds. All too often at BFS we see the results of businesses that have been started with insufficient finance.
Things to bear in mind
In the first flush of enthusiasm for a new business it is easy to get two basic assumptions wrong.
The first of these is the time that it will take you to generate genuine revenue and particularly profitable revenue.
The second is the true costs of setting up and running the business until the aforementioned revenue is generated.
Thus it is essential to ensure that your start-up business has sufficient cash reserves to carry it through the pre-revenue/pre-profit stages. The old saying of “Cash flow is King” was never truer than with a start-up business.
New Business Loans
Our task at BFS is to help you, the owners/managers of start-up businesses, to understand the importance of adequate finance.
We can usually help you to find that finance if it is not available through your own resources. You will often find that the Banks are more insistent than ever on having high levels of security cover and a track record.
If you who cannot offer this, raising the necessary levels of finance is usually a problem. If you find yourself trapped in this situation there is an even stronger case for giving us an early call. With our detailed knowledge of commercial finance we will often know of a specialist Lender(s) who can provide a working capital solution to suit your needs.
Call us on 0800 093 5240 for a free and frank discussion on the needs of your new business. We will always be please to see if and how we can help.