2. Re-evaluate your finances
O The first thing you need to do before you
look for alternative finance options, have a
look at your own finances.
O Go over your in-goings and out-goings to
make sure you are not over spending in
any area.
O Evaluate if you can run your business
more efficiently to cost save.
3. Invoice Financing
O Invoice Financing is an option where banks
supports small businesses in the issuing and
collection of your invoices
O Invoice Discounting: Where the bank will give
you up to 85% of your invoice within 24 hours
of you sending it without your customer
knowing.
O Invoice Factoring: Where the bank acts as
credit service and manages the issuing of
statement and collection of debts.
O Click here for more on invoice discounting
4. Government Grants
O If you are interested in getting a
Government Grant try this tool from the
Government.
O There are a number of different options
from skills and training, access to advice
and knowledge and financial.
O There are also country specific grants to
look at both the UK site as well as the
Scottish/Welsh/Irish/ English support
options.
5. Private Investment
O You could get a individual or âbusiness
angelâ to invest in your business and buy
shares in your company.
O This could have two benefits both
financially and in advice and support.
O You could always be really adventurous
and try Dragons Den or The Apprentice!
6. Additional Finance options
O There are additional finance options such
asâŠ
O Family investment- do one of your family
members have finances available to give
you in exchange for shares in the
company?
O Bank loan- speak to your bank and ask if
it is possible to get a loan or an extension
to your overdraft
O Savings- Do you have personal savings or
business savings set aside for these
occasions?