Small Business Matters
As committee member of the local Federation of Small Business in Sussex, also being in business for myself and working with many small and some not so small business I am constantly getting asked to provide Finance Advice.
Many Business Owners have not yet taken off their Rose Coloured Glasses before they call me, and I usually let them down gently and get them to take step back to consider what is required and why. For most, funding is required in order to obtain premises or to build stock and often the basics are forgotten. The Banks are not interested without a well thought out Business Plan and for good reason. Lending to Small Business is Risky, and a decent plan is a great starting point.
Aside – some of you may know that I also manage a Marketing and I.T Business – I have recently provided and important update to this recession is here Beating 2009
Anyway, the reason for this note is the following:-
Being in business is not easy.
There are tried and tested solutions to most of the financial problems encountered.
Business Premises are always available but you may need to compromise.
Funding Options are varied and the solutions are also as varied.
IMHO, by definition really good businesses do not need to borrow money (please dont call me to argue this point) Seed Money is a different issue.
Most Small Businesses FAIL and for good reason, they do not plan, they do not have enough ‘start up’ capital, and many owners do not listen or take advice about all aspects of their plans.
You would not plan to fail, but if do not plan you will fail.
If you want some decent advice in all areas of your planning call me to discuss your plans in more detail. We can offer support and assistance in many areas including Marketing, the Internet and I.T.
Richard Smith
Independent Financial Expert
0845 226 9106.