Archive for July, 2006
Written by richard on 28 July 2006
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 Adviser
0845 226 9106.
www.thefinancezone.co.uk
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Written by richard on 17 July 2006
With WAR in the Middle East being more likely than not, following the actions of Israel and others during the past few days Stock Markets have fallen. although not by much.
The Middle East is also not all of the problem, we still have the threat from other parts of the world with Missile Testing and Inflationary Pressures which all of the major world economies are battling with. It also seems that Russia has all of the Oil and Gas!
On a brighter note we are seeing Corporate Profit increasing and levels of debt whilst high they are stabilising, you see there is some good news.
I think we will see some more volatility in the markets over the coming weeks, with a clearer picture in September when the Summer is coming to an end.
Meanwhile, those of you with Balanced Investment portfolios should not worry that much.
Richard Smith
Independent Financial Adviser.
0845 226 9106
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Written by richard on 03 July 2006
How often have you heard of marriages that break up over debt? How often have you heard of separated people being left with more debt than they had when first separated?
I would suggest that you have heard both scenarios many times over, because for some strange reason (well not that strange) people do not seem to want to be open about their full financial situation, which brings a whole lot of deceit into a relationship, and as we all know any relationship cannot survive with deceit.
Last night the BBC Panorama programme talked a lot about debt and deceit, in that many partners were deceitful over the finances and many lenders are to blame for allowing them to run up unmanageable debt. There will be a call for more regulation but that really is not the way to solve it. Banks and Individuals alike must take more responsibility for the actions taken.
We have seen a massive increase in house prices over the last few years, and now houses are unaffordable for many. Buy to Let Investors are treated better by the Mortgage Lenders than First Time Buyers, and Mortgage Lenders have been quick to lend based on Affordability rather than Multiples of Income, this has helped to fuel further the positive future for House Prices. Another South Sea Bubble, I for one would not be surprised.
My Tips for the day.
1.Take Financial Advice at the very first opportunity when debt seems to be a problem (or indeed before).
2. If your Marriage looks like it is going wrong, do some digging into your Joint Finances – Affairs are really expensive items.
3. In case of scenario 2 – get a separation order ASAP, and seek Legal Advice about this.
It looks like the sunshine will be with us for a few days yet, make the most of it. I for one am out of the offfice for most of this week but will update this blog further shortly.
Richard Smith
Independent Financial Adviser
0845 226 9106
http://news.bbc.co.uk/1/hi/programmes/panorama/5129514.stm
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