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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.

Financial markets can be a fickle beast. The success or otherwise of a company, sector, country or region relies a lot on confidence – a factor that is hard to win, tough to maintain and easy to lose. Many factors contribute to a feeling of confidence but one factor that you shouldn’t lose sight of – especially as an international business – is the impact that political events can have on the economy.

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Over the past decade office desks have changed massively, no longer do we see the dominance of calculators, notepads, writing equipment and instruments we used to update company accounts – our desks are now clutter-free and the computer has taken over. All of our trusted aids and devices can now be accessed through our PC, tablet or even our mobile phones. Most businesses have welcomed these changes, as with them they have brought dramatic increases in efficiencies and improvements in the way we work. Yet, one out-of-date accounting tool that many companies still hang on to is the “trusted” spreadsheet.

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Business bankruptcy is the legal position of a business that is unable to pay its debts to creditors. The status is ascribed by the court, usually at the initiative of the debtor, at the point when they realise they cannot meet their financial liabilities. In this article Bankruptcy Canada give an overview of different types of bankruptcies and their effect on business’ income.
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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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Many business owners, including contractors, may have found it difficult to secure a competitive mortgage in the past. However, more enlightened lenders are happy to lend to limited company directors, who may find it hard to prove income on a ‘traditional’ basis.
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When you’re caught up in the day-to-day pressure of running a business it can be hard to focus on your longer-term retirement planning. By investing a little time to review the fees being charged on retirement and investment plans many business owners could retire earlier. Hannah Goldsmith from Goldsmith Financial Solutions explains how this is possible.

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Inventory management ensures the stock and supplies your staff have access to are monitored continually, to ensure nothing runs out and that invoices and purchase orders are generated correctly.

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“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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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. This money saving guide can help you save money for your small business and cut costs where its possible.
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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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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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