#Get Started UK “How to fund my Business”

Firstly, some of you will know that my Beautiful eldest Daughter, Emma, gave birth to my first grandchild last night. Welcome to the world Molly Talulah. Relief for her partner Miles.
Where was I? Oh yes.
It is easy to spend money. We all spend up to our limit, or most people cut their cloth up to their means. In Business you should only part with money if it going to make you money.
A good example would be my previous life with the world’s largest soft drink company. My terms and conditions allowed me the best money could buy, from Car to fancy office, to tickets to the best events etc. when I became involved in 2 new ventures, I discovered, to my initial surprise, that whilst good for me, it did not move the Business forward nor make money for the Business. You make profit first. We had no fancy offices, second hand furniture back of house, paid for things as we went, spreading our costs, never paying up front. All things I teach on my courses now.
Money is Oxygen to a Business and to a new one the foundations for it’s existence,
Rule 1 never buy what does not benefit the Business and make it money.
Rule 2 shop around, get the best price for anything you need, including utilities and rent
Rule 3 if you can get work that you need doing or goods that you need, from bartering,do so. Whilst time is money, your time has a value to someone, and they may do some building work or swap goods if you give something in return.
Rule 4 never buy more than you need. The President of Coca Cola Enterprises once said to me “People often complain they do not have enough Inventory, but neglect to look at what they have and ask if it is being driven to it’s max, and properly placed.” What he was getting at is simple. Stock is money! If it sits on a shelf, it is not recycling money and making you profits. Stock is an asset or in some case a hindrance. Buy wisely, buy what you NEED.
Rule 4 know what your competitor is doing every day. Keep up to date
Rule 5 if you need to borrow, make sure it is enough to provide cash flow, not just enough to start. Contingency planing is vital.
Rule 6 look for grants, grant finder on the Internet may be an option? Reality if you need to rely on a grant, your idea had better be good, it will not be much money. If you have served in the Armed Services. Contact ‘be the boss” at civvy street, administered by RBL. They have grants upto 25% and loans the remainder. We can help plan development to obtain the loan/grant.
Lancashire County Council have a scheme called rosebud, which the Orvia Group administer. Speak to them on 01772422242. Not for everyone but worth a try.
The Princes Trust have funds in East Lancashire, Liverpool and Manchester. You need to be 18-30.
Rural Lancashire has funds I believe.
Money is out their you just need to seek. Ring Orvia, number above, and they will try and source if anything going.
Banks will lend money, usually they will expect you to match fund though.
Credit card gets you about 56 days, but you need to be sure you can repay!.
I hope this helped. I am off to Cornwall tonight to see my new Grandchild so enjoy your day, I will.
Remember you can contact me at the FYCreatives, Blackpool, 01253477147, or Orvia on 01772422242


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