Posted on 15/02/2016, 10:30
We are often asked to help business owners find funding to support critical investments or to fund growth. Sometimes this is because the bank has turned down the request for a loan or the criteria are too onerous, other times because the options are not deemed desirable.
The starting point is always the same: understand the need and evaluate the plan. The key is to have a robust plan that demonstrates a return on investment from the funding required.
The next step is to identify funding options. A recent Growth Accelerator study highlighted that successful business owners fund 40% of their investment requirements from within their business. Our experience is that there are many more who believe their business is cash strapped but are unaware that there may be pools of untapped cash awaiting discovery if they only knew where to look.
Where are these pools of cash?
Here are seven suggestions that could help you reveal hidden pools of cash in your business:
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