The announcement of the roadmap to take us out of restrictions will inevitably bring opportunities for all the business owners that now have a date to reopen, and those wanting to start a new venture.
We may have all been waiting for this day to happen and been glued to the screen while the PM made his announcement, but is your business properly prepared to take advantage of the pent-up demand experts expect to see? After a difficult year, have you got the cashflow for the stock you need, the equipment and the transport, or do you have the funds at your disposal for new office furniture, IT equipment or enough money for a fantastic marketing campaign?
We may have a few weeks yet before most sectors can open, but that time will go quickly, and it will be those who plan early and act who will be in the best position to bounce-back quickly.
This is where a finance broker can help…
There was a time when everyone knew their local bank manager and many small business owners could simply schedule an appointment to discuss the finance options available to them. Things today however are very different.
You are the expert in your business and sector, but obtaining finance can be a complicated matter and you may not find the solution that’s right for you without investing significant time – time right now that’s better spent rebuilding your business. An independent broker specialises in sourcing the right finance that a business needs to flourish. There are many options open to you which can help in these current times.
For instance…
Did you know that the CBILs (Coronavirus Business Interruption Loan scheme) are still available until the end of March, and there are many different versions? These could be ideal to help you prepare to expand again, with the Government paying the first 12 months of interest and upfront fee on your behalf, as well as no personal guarantees on loans up to £250,000, with other lenders offering 12 months deferred repayment terms and have no early settlement fees. You don’t even need to draw the loan down straight away – you just need to have your application submitted before the deadline to ensure you receive the funds when you most need them.
Did you know that you can raise cash against assets you already own, and still get to keep? This is called asset refinance where manageable monthly payments are agreed over a fixed term and is available against all wheeled and tracked assets.
Did you know that you could apply for a 3 month VAT deferral on a new van or equipment which could be a huge boost to a business’s cashflow over the next few months?
These are just a few of the options that can help your business now to let you build back stronger.
For more information please call us on 01603 381955 or e-mail [email protected]