The publications, The No-Nonsense Guide to Small Business Funding and The No-Nonsense Guide to Finance for High Growth Companies, have been produced by Government-backed business advice service Business Link.
The first is aimed at start-ups and small firms in need of finance and covers the basics of finance, potential sources available and the best ways of accessing and approaching them.
It offers detailed advice on, amongst other issues, the following:
- Working out how much you need and when
- What advisers you need to talk to
- Producing a business plan
- Self-funding options
- The pros and cons of investment by friends and family
- Whether you are eligible for a grant
- Tackling cashflow problems
- Dealing with late payment
The second guide, The No-Nonsense Guide to Finance for High Growth Companies, is targeted at more established enterprises that are looking to expand. This starts with working out how much you want and how you will spend it and goes on to cover the following funding options:
- Bank loans
- Invoice discounting
- Borrowing against your business assets
- Business angel finance
- Venture capital
- Flotation
“Time after time, small firms say to me that raising finance is a top priority for them,” commented Nigel Griffiths, Minister for Small Business Enterprise. “These new guides can help them make the decision over which funding route is right for them.”
See also: Small business finance – the complete guide
Looking for finance? SmallBusiness.co.uk is working in partnership with trusted lenders to find the best business funding deals. Find out more here.
