As Business Growth Accountants one of the most frequent conversations we have with small and medium sized business owners is about funding. The things covered most often include talking about ways to help businesses manage their day-to-day cash flow, discussing the various options available to businesses that have got behind on their liabilities or a business that is looking to secure funding so it can grow and take advantage of the current opportunities that are available.
No matter which of these it is the common point that we always end up coming back to is that no matter what the banks and other funding organisations say it is the perception of the business owners that people are not lending.
We sympathise completely with this viewpoint and we have seen a massive shift in the approach that banks in particular are now taking with their lending decisions compared to 3 or 4 years ago but we do happen to agree with the banks on this one – sorry!
It is our experience that banks are looking to lend but unfortunately the majority of business owners that are approaching them with their lending requests are not providing them with sufficient information that allows them to say yes. We are lucky to currently have a 100% success rate when helping our
clients in this area and our 3 golden tips to help any business in this area are:
The first point of contact for any business owner looking to access finance for their business should be their professional adviser as they should have the contacts and expertise that is needed to help you to position your proposition in the best way to the most appropriate funders.
If anyone needs help or wants to find out more then please contact us on 0151 649 8456 or info@woods-squared.co.uk for a free initial no obligation discussion
about the options available to you.
