How much and why?
- There are a number of funding solutions a new business should consider, the best funding option will depend on multitude of factors and can only be assessed on a business by business basis.
- Before drawing up a strategy, it is important to understand how much finance will be needed and for how long the finance will be required. This will affect the type of finance you will need.
- You will also need to tell the lender what you need the finance for and what are the risks – they will want to see your business plan.
- You will also need to consider if you have any property assets or a willing guarantor who will provide security for the debt – this will make borrowing much easier.