- Business Growth Services, Xero Accounting Partners, Raising Business Finance
There are a number of ways to raise finance for your business. A typical progression as you grow might include the following:
- Own funds and personal loans.
- Friends, Family and Fools!
- Favourable terms with customers and suppliers.
- Working capital finance.
- Loans and facilities from banks (and increasingly a whole new class of Fintech providers).
- Angel investors.
- Institutional investors (e.g. Venture Capitalists).
The appropriateness of these will depend on the stage of business you’re at and the reason you want to raise finance. Business Growth Services (BGS) can help you navigate the options available to you.
You might be a start-up seeking initial seed capital, an established business looking to grow or a distressed business needing cash to survive. Whatever your need, having an experienced team to help you can be the difference between success and failure.
Here at BGS we have worked upon many projects raising finance for a whole cross section of business and purposes.
BGS Managing Director Shaun Walsh has personally been involved in helping businesses raise over £20 million to date.
By way of example Shaun helped to raise £4million to finance the acquisition of a hotel and £6million for an MBO (Management Buy-Out) of an electrical contractors which the owner wanted to exit.
A key requirement when raising business finance is to make sure you have a full prepared set of up to date accounts together with a full set of 3 way (P/L, C/F and B/S) forecasts that stack up and have been signed off by a financial professional.
Never was this truer when one of our clients tried to raise £95k for working capital, following a refurbishment project which had swallowed up the cash in the business.
The business owner had been trying for months to raise the capital but had been unsuccessful. We were able to come in, build the forecasts and present the accounts properly to a select number of lenders with whom we have close relationship. We were able to secure a £95k loan in a matter of weeks.
To find out more upon the above example, watch our video:
Remember if you are looking to sell your business and maximise your exit, the sooner you ask Business Growth Services to be involved, the better.