Organiser: Humber LEP Growth Hub
Event Type: Webinar
About this Event
This webinar covers the 6 points you need to be aware of to access funding and to best manage your cash, delivered by Jo Tomlinson, owner of Business Work UK, an advisory led Accountancy Practice, a growth coach and a certified Quickbooks Trainer.
The 6 key points covered:
1. How much do you want or need?
a. Cash flow forecasts will tell you how much money you need and for how long
b. How to put one together
c. How detailed do they need to be?
e. Scenario analysis
2. What will you spend the money on?
a. Are you buying new equipment, or is it for working capital?
b. There are certain spend categories which are red flags to some lenders – what are they?
3. Are you considered a viable business?
a. What is your trading history?
b. Is the business generally profitable?
c. Who do you owe money to?
4. Affordability – can you afford to meet the repayments (if there are any)
b. Stress testing
c. Affordability criteria
5. Funding products – There are many funding products on the market – do you know which one is the right one for your businesses needs?
6. Interest rates – do you understand the terminology? What is the difference between an APR and a fixed rate?
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