Business Start-up Loans

Setting up a new business brings many potential pitfalls, particularly for the inexperienced or the unprepared. Not least of these pitfalls is the matter of adequate finance. All too often at BFS we see the results of businesses that have been started with insufficient finance.

In the first flush of enthusiasm for a new business it is all too easy to get two basic assumptions wrong with regard to that business. The first of these is the time that it will take 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 the 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.

Our task at BFS is to help the owners/managers of start-up businesses to understand the importance of adequate finance and to help them to find that finance if it is not available through their own resources. In the present economic climate the Banks are more insistent than ever on having high levels of security cover. For those who cannot offer this, raising the necessary levels of finance is usually a problem. This is even more the case with the demise of the old Small Firms Loan Guarantee Scheme. Unfortunately the replacement Enterprise Finance Guarantee Scheme is less accessible to start-up businesses as well as being more demanding as regards security for the Lenders.

Call us 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.

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