Finance and support for small business
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- 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- high interest; can be withdrawn.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.
- Friends and family
- 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
- High street banks
- Sources of Finance
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