#Immediacy on speech making

Raising the money You may have already found all or some of ...

Raising the money You may have already found all or some of the financial resources necessary for your growth plan. It is more than likely, however, that you will need to borrow money to some extent, and success in doing this depends on two factors presenting your case and going to the best place. Presenting your case, as you will have experienced,_ involves rather more than strolling into a convenient bank and asking for a million-pound loan.

Banks and other lenders make their living by lending money to finance promising schemes where there is a real prospect of being paid back with interest-The lender needs to be convinced that your idea fits this requirement, and it is entirely reasonable that he should expect you to demonstrate it. Fortunately the banks have made it easier for us by setting out on paper the information they need and, if the questions they ask are properly answered, a good start has been made. As an example, the National Westminster Bank, visit their website www.natwest.com and search for their webpages on Loans and financing.

In addition to your basic details you are advised to provide the following information: - reputation and accountancy system; - past three years audited accounts; - profit and loss account; borrowing history; - description of assets; details of your key employees; - your purpose; the plan; - practical aspects; - property details- if relevant; contingency plans; - relevance to existing' operations; estimated demand; - competition; - your competitive advantages; - digital marketing costings; technology type; - costings and calculations; profit protections; capital aspects; - tax, stamp duty and other costs; and, of course, the amount required, when, and whether in the form of an overdraft or term loan You will already have most, if not all, of the answers to these questions. Some would-be borrowers resent having to answer all these questions, regarding them as time-wasting, bureaucratic obstacles.

In fact they represent information which every businessperson should in any case have for his business in order to run it properly and, if not, the discipline of finding out the answers will improve his chances of success. So the first requirement is a comprehensive and carefully prepared report covering the subjects listed above. It is a good idea to prepare, in addition, a one- or two-webpage summary and to give the whole lot to the person you will negotiate with before you meet.

The summary will ease the burden of analyzing a lengthy document, and delivery of it in advance will give him / her time to read it before you turn up bursting with ideas and enthusiasm. Having read it in advance the lender may also have developed the same enthusiasm. The next thing to decide is where to go to ask for money.

Most of us think first of our bank manager, so let's deal with that possibility first.

The larger banks all offer much the same alternatives, including: Overdraft; Term loans; medium to long-term loans; with a fixed rate of interest; Business-development loans available for periods of 1 to 20 years at a fixed interest rate; Small-firms loan- guarantee scheme; a scheme involving the Department of Trade and Industry who guarantee a proportion of the loan; Franchising Special packages for people considering some of the leading franchises. From time to time the major banks will produce new schemes or variations on the old ones, sand literature is readily available. Apart from the major high-street banks, there is a considerable range of other lenders, including companies who provide venture capital combined with an equity holding. They will, however, allow you to retain control.

A few examples are listed below and, as you will see, they are often subsidiaries of the big banks: Barclays Development Capital: owned by Barclays Bank Group (see www.barclays.co.uk); Birmingham Technology Ltd: owned by Lloyds PLC (see www.lloydstsb.co.uk); Meriton Investments: owned by HSBC Plc (see www.hsbc.co.uk) and Rolls Royce Pension Fund (see www.rolls-royce.com). There are many more of these venture capital companies, and your accountant will have details of them. Another source of funds can be various government, quasi-government and local-authority bodies.

Entrepreneurs across the United Kingdom pursuing small business financial assistance in the form of a loan, grant, or other aid programme need to know where to look.

Government funding programmes can help fund training employees, with product development, building a web site, purchasing equipment, and lots more. Visiting the UK Business Funding Centre at www.ukbusinessgrants.org may prove useful.

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The course takes place in week 2, so he cannot start his ...

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Continue to keep people informed, especially of any changes to the timetable, ...

Continue to keep people informed, especially of any changes to the timetable, so that they can make the necessary adjustments and possibly give you ideas to bring