What you need to know about funding for business!
Walter Dawson & Son
Chartered Accountants, Statutory Auditor's and Financial Advisors based across Yorkshire
Written by George Brook MAAT - Funding Solutions Assistant at WDS
A healthy business should always be evaluating its current financial status, and the recent economic times we are facing would make this even more critical to business success and longevity. You may have a need for business finance but doubt this is the right time. We don’t think there is a wrong time, here’s why.
?With careful strategic planning, business funding can provide prosperous opportunities even in a recession that ensures not only business survival but growth.
?These opportunities can look like a new premises or expansion of a current premises, or even taking on an additional location. You may need to buy new stock to meet demand or requirements. Or even expand your team by investing in new employees.
?Pushing businesses to the next level is exciting and challenging, but finding the right funding solutions is not always that straightforward. Making sure you source the best deal for you and your business is pivotal, a deal can look great, but is it going to keep the business successful in the future, so variables and interest rates should always be factored into your lending decisions
?Also, we are entering uncertain economic times we may see more businesses struggling with their working capital which may lead to a higher uptake of invoice finance due to banks having less and less appetite for overdraft facilities.
?Here are the types of business finance we are currently doing deals on:
·??????Commercial mortgages
·??????Recovery loan schemes
·??????Unsecured business loans
·??????Factoring/Invoice discounting
·??????Asset Finance/Hire Purchase
·??????Debt restructuring
·??????Working capital loans
·??????Overdrafts
·??????Credit Lines
·??????Commercial credit cards