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How to finance your business

Without sufficient funding, any new business will struggle to survive. There are several different types of finance available to small firms – from taking out a business loan, to seeking angel investment, and applying for a Government grant.

“Take care of the pennies, and the pounds will look after themselves” — advice often given to people looking to grow financially and develop financial security. Being financially prepared is the cornerstone of developing a successful and profitable business, and should be a core priority from the moment you begin developing your business strategy and remain at the heart of your operation throughout your business’ growth.

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In a study carried out by the Competition and Markets Authority (CMA) it was found that a staggering £7 billion is being wasted by small and medium sized businesses which have been overpaying on their gas and electricity bills. And yet, this massive overspend could easily be avoided – says Nolan Braterman from Frontier Utility.
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Forecasting sales is essential, from the very beginning of your business venture. You will need to forecast sales at the stages of when you are putting together your business plan. Any potential investors will need to see the sales forecasts to see how well a business is predicted to perform.
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Venture capital is a form of funding for businesses. It varies from multiple other ways of funding because it deals with huge sums of money as well as requiring equity in exchange for investment. In this article you will find out how venture capital (VC) works and how you can get funding. VC is becoming a prominent part of UK business funding, with around £2.5 billion invested through venture capital in 2015 alone. Additionally, there are currently 22 VC firms operating in the UK.
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Venture capital is a form of funding for businesses. Venture capital is financing that is provided by investors, known as venture capitalists to start-up businesses. Venture capitalists will only invest in your start up, if it shows potential for long term growth. This form of getting funding for your business can sometimes be difficult as it will need to meet certain expectations and guidelines.
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Budgeting is a vital part of any businesses success. Actually documenting your budget is important to make a success of your business, or keeping your business afloat. You can think of it as a map, to see the direction of the business as well as the future, and without this map it will prove to be difficult.
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Saving money whilst running a small business may be difficult, however it may be necessary depending on your financial situation. It will be beneficial for you to regularly do an expenditure analysis and see where your money is being spent, and where you can save.
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Crowdfunding is an increasingly popular way to raise funds for your small business and if you think you can persuade the masses to give your idea a chance then do not hesitate to get your crowdfunding started. In 2016 crowdfunding provided 15% of total UK startup and venture-stage equity investments, and it continues to grow at a phenomenal rate. Here, we take a closer look at this innovative method to funding your small business idea.
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The simple and honest answer is – not much! Most companies that go into liquidation are insolvent, apart from those that are placed into Members’ Voluntary Liquidation. It’s probably easiest if we start by looking at the definition of insolvency and then we can look at how this impacts companies with financial difficulties, tells Richard Saville of Corporate Financial Solutions.
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Owning a business is tough. It can be difficult waiting for receipts to clear. You may find you’re spending all your time trying to chase profit and leads, and neglecting your cash flow.
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Directors’ loan accounts can appear to be a complex element of your business at first glance, but the basic concept behind them is straightforward – to provide transparency when moving monies between you, as a director, and the company.
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One of the things everyone dreads hearing is that their client has gone out of business. It can understandably cause a lot of stress in your business, as you don’t know if or when they will ever be able to pay your invoices or just how much trouble the debtor company is in.
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Late payment is a fact of life for many businesses but for many SMEs it can prove to be a constant battle to get paid on time. But it doesn’t have to be that way as small businesses now have more options for taking the leg work out of their credit control than ever before.
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Whether its clients “forgetting” to pay, stalling for time before settling their bill – or sometimes just deciding not to pay you at all – having to chase up money that’s rightfully yours is frustrating and time-consuming.
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When you supply goods or services to other businesses, you’ll usually extend them some form of credit. Setting the right credit terms is essential if you are to protect your business from the risk of late payment.
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Many SMEs leverage the power of the internet to broaden their horizons and trade with companies overseas. It’s also allowed micro-businesses and freelancers to compete with much larger suppliers, both in the UK and elsewhere, without the costly fees associated with a traditional merchant account.
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There may be times when you need access to extra funds to help with your business cashflow, or simply to know that a short-term lending facility is in place should you need it.
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With lenders reporting record advances to clients in recent months, we look at how asset based lending works in practice, and if it offers a solution to businesses who may have experienced difficulties securing finance from ‘traditional’ sources.
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How do you set up / apply for a company bank account? post image

When you set up a new limited company for your business, you will also need to set up a business bank account. Here we look at the practicalities of opening a new account.
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Whether you have decided to sell or buy a company, or simply want to know how much your company might be worth, there are a number of conventional ways to value a business.
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