Asset finance relates to what assets a business needs to operate, or what assets they have already. Business assets can be anything from a new fleet of cars for a taxi firm to ovens and refrigerators for a catering business.
With gloomy forecasts surrounding the potential impact of Brexit on UK businesses, Rory Dunn, sales director at Portman Asset Finance, explains how the flexibility of asset finance is allowing many companies to buck the trend and achieve real growth.
Despite a positive turn of events for asset finance, more than a third of small and medium-sized business owners try to avoid borrowing money at all costs
Getting funding can be a challenge and alternative finance may seem like a godsend to many new businesses but there are funding pitfalls, and if you don’t get it right, it can be an expensive mistake.
Most businesses will come up against short-term cash flow problems at one point or another, but the key is not to let them be a long-term issue that holds you back from scaling up.
All businesses have costs, and sometimes getting a scale-up off the ground requires a cash injection. Not everyone is lucky enough to have the bank manager on their side though so where else can you turn”
Having built itself up to a portfolio of 41 stores, Wasabi has plans to add another 20 after agreeing a funding package with high street bank HSBC.
The must-haves for previous generations of SMEs aren’t as important for the new wave of digitally native companies. Spurred on by a stream of Millennials entering the workplace, many smaller businesses are putting off major purchases – or avoiding them entirely.
British Business Bank Investments recorded a profit of £11.8m in the five months to 31 March 2015, after a period spent investing through providers of finance to smaller businesses and small mid-cap firms.
Training and personal development helps companies and industries to grow. Without investing in people, businesses cannot expect employees to complete vital tasks, interact with clients at the right level or come up with great creative ideas.
A new study has revealed that 29 per cent of small and medium-sized businesses across the UK don't have a business plan in place.
With the release of mixed data around bank lending seen over recent days, Lee Castledine from RSM Tenon Corporate Finance looks at the broader funding options available to SMEs.