Financing your business in 2017
Contributed by: Berley

Starting up a business has its challenges; formulating a business plan, sorting out the necessary paperwork, and securing funding to get your ideas off the ground can all be a hassle.

At Berley, we try to reduce the stress of owning a business so that you can concentrate on doing the things you love. As part of our comprehensive service, we can help you apply for and secure funding that will allow you to see your business grow.

Government funding

2017 has been a year of uncertainty thus far, with official lenders, such as banks, more reluctant to invest in a small business for fear of not seeing a return on their investment. However, the British Business Bank, which is government-owned, has promised to maintain funding for small businesses to guarantee that those who need a helping hand have the opportunity to reach up and grab one.

In January of this year, the government announced that they would be providing £40 million to help small businesses across the UK. With £40 million already invested in 2014, and a £20 million investment made in 2013 through the Business Finance Partnership, the UK government is keen to show their support for small businesses by helping them to capitalise on new opportunities.

Speedy service

These government backed business loans can be applied for through the online lending platform, Funding Circle. Funding Circle provides a quick and easy way to help small businesses get what they need, with the application taking as little as 10 minutes to complete. A final decision on the loan request is then given within two working days, and if successful, you can have access to the funds within the week.

In the past, business had to rely on banks to give them the support they needed. Often, these bank loan requests take a long time to process, and they require a lot of inconvenient paperwork. The quick access to funding that Funding Circle provides can mean that you don’t have to wait months before you can start making important decisions for your business. You can act straightaway, which may mean the difference between success and failure in the fast paced business world.

How can Berley help?

Berley are chartered accountants who specialise in helping small businesses reach their potential. We offer expert advice to enable you to get the most out of your business plan and we’ll be with you every step of the way. Our aim is to ensure that you, as an entrepreneur, know how to manage your accounts and are able to deal with any tax issues you may have.

As well as all this, we can provide you with information about the funding options that are available to you, and even support you with making the right decision for your business. Whether you would like to apply for a government backed loan, or you’d just like some advice on other types of funding available to you, we can help you make that next step in securing your positive future.

If you’d like some more information on how we can help you and your business, call us on 020 7636 9094 now.