Finance and support for small business

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  • Created by: vampette
  • Created on: 11-04-14 08:48
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  • 3.1 Finance and support for small businesses
    • Sources of Finance
      • Friends and family
        • flexible; may be cheap or even free.
        • Could spoil relationships; depends on availability.
      • Bank loan
        • Lumps sums; clear terms and conditions; may also get support.
        • interest payments; strict conditions; needs to be agreed.
      • Overdraft
        • Flexible; provides back up.
        • high interest; can be withdrawn.
      • Mortgage
        • regular repayments; lumps sum
        • secured against an asset; repayments may be high.
      • Grants
        • often with added support; may not need to be repaid.
        • often difficult to qualify.
    • Sources and types of advice available
      • High street banks
        • Consultants
        • Small business advsors
        • Accountants
      • Government organisations
        • Regional development agencies
        • Business link
        • Department for business, innovations and skills
      • Charities


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