Finance

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Overview

Financial support for business covers a wide range of topics and skills. At the highest level the responsibility is to safeguard a company’s assets and provide clear and accurate information. Statutory obligations have to be met and corporate governance maintained.

Here are some typical financial areas businesses commonly engage with in a full business cycle:

  • Financial accounting and reporting

  • Budgeting and forecasting

  • Financial control

  • Cash management

  • Business planning

  • Raising funding

  • Tax planning

  • System integrity

  • Cost reduction methodologies

  • Insolvency

  • Owner/manager exit planning

Our members have relevant expertise, from those with experience of business-to-business markets, to consumer and not-for-profit. We can cover any sector specialism a company might require from, for example, computer software to healthcare, utilities or FMCG markets. We are able to pool teams of advisors where a client might require a breadth of support in business finance.

a) Commercial Finance

Raising Finance, Re-finance and Soft Loans

Securing the right type of affordable funding for their companies is a constant cause of concern for entrepreneurs, directors or business owners. There are funding solutions available for different stages of a company’s growth, looking to expand and even for those that are in distress.

SS Business Consultants has a number of specialist members that are experienced in raising finance of all types. Here are some options depending on the company’s situation:

Start-up Companies will always have problems with obtaining finance from banks, so most have to be self funded from family and friends and often have to resort to personal measures such as re-mortgaging of the family home.

High growth start-ups, however, can look at Angel Funding, which can come in two forms, as an equity investment or as a commercial loan. One of the neglected forms of Angel Funding is the recruitment of a Non-Executive Chairman who may have both capital and industry knowledge to invest. Invoice Discounting or Factoring, or the selling of your debtor ledger, is another attractive way of enhancing cash flow for both start-up and growth companies.

Growth companies have a greater range of funding options available to them, including those mentioned above. Bank loans are usually the least expensive form of borrowing, either in the form of an overdraft or a commercial loan, but a company should be prepared to give personal guarantees.

Trade Finance for importing products from abroad or for buying components for manufacturing is available, if you already have firm orders from your clients.

Stock Funding can be arranged if the stock is easily identifiable and has a ready re-sale market, but this type of finance is not the easiest to come by.

Many growth companies have ‘forgotten’ assets that they already own that can be used to raise much needed cash flow, by using Sale and Leaseback techniques. Leasing plant, machinery, IT equipment and vehicles not only eases cash flow but is also tax efficient.

Commercial Mortgages can be arranged for the purchase of commercial premises whether it be for industrial, retail or office.

Turnaround Angels only invest in companies that need an injection of new capital to turn them around.

b) Grants

There are a wide range of different grants and support schemes available to businesses, all of which demand considerable time and preparation of a business case for justification. There are also the time demands to satisfy the administration processes needed to claim stage payments.  In addition, there are extra rules and special conditions governing specific regions and selection criteria to overcome. Navigating the options available to successfully secure a grant is not for the faint-hearted.

Here are some insights on grants:

What are Grants?

According to Gov.Uk a grant is an amount of money given to an individual or business for a specific project or purpose.

You can apply for a grant from the government, the European Union, local councils and charities.

You won’t need to pay a grant back, but there’s a lot of competition and they are almost always awarded for a specific purpose or project.

Advantages

Advantages include:

  • you won’t have to pay a grant back or pay interest on it

  • you won’t lose any control over your business

Disadvantages

Disadvantages include:

  • you’ll have to find a grant that suits your specific project, which can be difficult

  • there’s a lot of competition for grants

  • you’ll usually be expected to match the funds you’re awarded, eg a grant might cover part of the cost of a project but you’ll have to fund some of it yourself

  • grants are usually awarded for proposed projects, not ones that have already started

  • the application process can be time-consuming

How much can I get?

The amount of grant can be determined by the nature of the project, the type of grant scheme and the size of business. Many grants are specifically targeted at small and medium size businesses.

What kinds of projects are supported?

Grants are targeted at specific objectives, for example, to achieve CO2 emission reductions, to undertake research and development of innovations, or to invest in capital equipment and plants for business growth and new jobs. To qualify for a grant, you need to be investing in a project that meets the grant criteria.

What’s involved in an application?

Generally you will need to prepare a comprehensive project proposal comprising a technical work plan, project plan, project cash flow, cost breakdowns, resource summaries, marketing plan, business plan and business cash flow. This will need to be supported by evidence of your ability to fund your share of a project.

Our Services

Here is a list of our services that could help you

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