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Common Sources of Financing for Small Business
The choice of financing is an important determinant of whether a product reaches the market, or whether an existing business can survive. The choice of financing is an important part of being an entrepreneur and business owner, and the ability...
Credit Cards for Small Business
When you decide to start a small business, you find out pretty quickly that it takes more than skills and dedication in your respective area of work. Besides being good at what you want to do, you also need to known your accounting and financing...
Increase Your Income Through International Trade
If you operate a small business, you may feel that your income potential is quite limited. However, you can increase and diversify your income through international trade. 1. Importing Retail store owners can find additional products to sell...
Silicon Valley
Silicon Valley: a parable
We have all heard about the “Silicon Valley” miracle. Not long ago, Silicon Valley found itself at the centre of the world, a job- and money-making machine fueled by the popularity of the Internet and technological...
Small business investments
State laws have been relaxed to make it easier for small business to raise start-up and growth financing from the public. Many investors view this as an opportunity to “get in on the ground floor” of an emerging business and to “hit it big” as the...
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Last chance to get Small Firms Loan Guarantees?
The leader of our SFLG team commented this week: “I called the DTi today and they say that the new regulations will be in place by the end of the year and maybe by the end October/beg November. They are working on it now and expect to make an announcement with exact dates of the roll out about September time. The deadline will mean that any companies over 5 years old will need to have their loans approved by the lenders and arrived on the desk of the DTi before the cut off date. Any received after that date will not be likely to get funding. The associated publicity may also lead to a rush of applications which in turn might cause delays.”
Earlier this year the Government welcomed and accepted Teresa Graham's recommendations on the future of the Small Firms Loan Guarantee (SFLG), designed to maximize the support that the scheme offers to small firms. Key points of the recommendations -
• Expanding the lending limits to £250,000 per business for all eligible businesses
• Raising the turnover limit to £5.6m for all eligible businesses
• Reducing bureaucracy by making changes to the operation of SFLG
• Better targeting of SFLG at start ups and young businesses by introducing a maximum age limit for eligibility of three years' trading activity, and reserving a segment of SFLG funding for lenders with a clear focus on high-growth businesses
• Incentivising an increase in SFLG penetration, particularly wider geographic availability throughout banks' network of branches
• Encouraging new lenders to join the scheme
• Allowing successful serial entrepreneurs to benefit by removing the current £250,000 limit on lending to any individual
POSSIBLE ACTION – Apply now while you are still eligible and before possible delays? We are currently averaging 8-10 weeks for approval.
More information www.strategyconsultinglimited.co.uk/sflg.shtml or from Stephanie Dickson on 0845 838 0936
John
J. G. Courtney AIMC, MABS, MInstD
Managing Director
Strategy Consulting Limited
john@strategyconsultinglimited.co.uk
Funding: BUSINESS ANGELS - SMALL FIRMS LOAN GUARANTEES - GRANTS - PROPERTY FINANCE
Strategy: STRATEGY - BUSINESS PLANNING - NON-EXECUTIVE DIRECTORS - WORKSHOPS
Marketing: MARKETING STRATEGY - SEARCH ENGINE OPTIMISATION
About the Author
JOHN COURTNEY
The Managing Director of Strategy Consulting Limited,(www.strategyconsultinglimited.co.uk) John Courtney has been a Company Director for over 20 years, and has been a Non Executive Director for several SME's. John has trained at The Academy of Business Strategy and is also a visiting lecturer on the MBA course at Cranfield University School of Management.
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| United States Small Business Administration |
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| Business & Small Business |
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| Microsoft Small Business Center |
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| Small Business and Self-Employed One-Stop Resource |
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| www.smallbusinessbc.ca |
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| Small Business Service | Home |
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| NSW Small Business |
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| Microsoft bCentral Small Business Directory |
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| Small Business Development Corporation |
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