This guide, sponsored by the relatively new British Business Bank was produced by a collaboration of 17 organisations including the Institute of Chartered Accountants for England and Wales (@ICAEW) amongst many others, as well as all of the business organisations including the Forum of Private Business.
Forum Chief Executive Phil Orford with Vince Cable at the launch of the Business Finance Guide
Rarely does such an extensive collaboration come together, which reflects the importance of the subject matter.
So what is the guide all about? Well, it’s a comprehensive guide to help small businesses, both new and existing, to access the right sort of finance which is relevant to them at their stage of the business lifecycle.
So whether it’s on starting up, with access to a Start Up Loan (@startuploansUK), or asset finance and other debt finance, or whether you are at the stage of looking for equity finance from business angels or venture capitalists, this guide highlights the options available and informs readers about when and how the various types of funding could be sourced.
In that regard you could say that the guide supports businesses of all sizes to improve their knowledge of the types of finance available in the market place. It’s a reference point for those who simply don’t know what’s available and it will undoubtedly support any business owner planning to apply for business finance.
The Forum of Private Business will be continuing its involvement by promoting use of the guide to our members and the wider business community, and in that regard I would encourage you to forward or retweet this blog as widely as you can.
As a final message, minimising the need to borrow money is, of course, a primary function within any successful business. So it's important to get your terms and conditions right, chase your debts quickly and professionally, don’t let yourself be bullied by late payers and if all else fails, call the Forum of Private Business on 0845 130 1722 and we’ll do our best to support and help you and where relevant put guilty late payers into our Late Payment Hall of Shame.