Cash flow of any business is its heart beat - without sufficient cash it cannot grow or maybe even survive.
The obvious way to fund any business is through its own retained profits. This will involve no interest payments and means that if an asset is being acquired it is owned from day one. But, is using its own cash the best way for a business to trade or grow?
This will all depend upon what the plans of the business are. It may mean a slower rate of growth but this is not always a bad thing. With any use of retained funds the unexpected also needs to be considered. If funds have been used for acquiring a particular piece of machinery, what happens if an unplanned breakdown happens?
Making alterations to a building or buying a new one are more likely to be funded and this type of funding will normally be over a longer period of time. So if funding is the right choice for your business, where do you go? Most businesses will tend to speak to only one lender, but there are currently around 350 different lenders now offering up to 3000 different products, so is speaking to only one the best option?
Before you decide who is best to fund that next piece of machinery or provide that stocking facility, maybe we can help? At Armstrong Watson we now have access to over 100 of these funders offering a wide choice of options. As your trusted partners why don’t we see what other options there might be for you to consider?
We cannot promise that we will have all the answers or that your normal funder won’t still be the best choice, but you may be surprised.
Get in touch with Andy to explore the funding options that may be available to youContact Andy
If you like this article and would like to subscribe to INSPIRED, our FREE monthly newsletter, then please click SUBSCRIBE.Subscribe