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Finding the right finance and funding for your business is vital to support growth.
Now that you’ve decided to embark on your exciting business venture, it’s time to take the next step. Nurturing your company requires a sharp and professional approach to all aspects, including the financial plan.
With so many options available to support you from the first step of your journey, it’s important to understand which one works for you.
Once you know how much financial support you’re going to need, you can begin to explore the options with our trusted guidance. A good place to start is by estimating the amount it will take to run your business for the year. This will help you assess your borrowing requirements.
During this finance and funding assessment, you should take into account:
Once you have assessed these aspects, there are several key funding routes available. Many businesses choose to take advantage of grants and loans. For small business start-ups, grants can be an important part of the funding mix, and they’re relatively easy to come by if you know where to look. There are a number of organisations willing to help you understand which opportunities are best suited to your development plans, which can be found here.
Alternatively, crowd-funding, angel investment, and invoice factoring are excellent developmental steps and reliable financial support methods.
Whichever route you choose to support your business, we’ve put together a simple guide to help you navigate the multitude of planning and advice available.