Being able to access the right type of finance at the right time allows businesses to invest, grow and create jobs. A good understanding of the options available is an essential starting point and enables businesses to select the type of finance that is right for their circumstances and plans.
Finding the most suitable funding for your business will depend on a number of different factors and you need to consider how appropriate and how attainable these financing options may be.
You will have to consider:
- How much funding do you need?
- Over what time period?
- What exactly is capital for?
- Is security available?
- Can interest payments be met?
- Are existing shareholders happy to give up some control?
- Is the additional input of an equity partner needed?
- What are the taxation implications?