Welcome to our blog, here you can read about many things relevant to the world of business finance, life in general, business finance advice, commercial finance and commercial mortgages. We also look at Marketing, Customer care and the Building Trade. Enjoy the content and feel free to e mail your comments.
Well, at last, we have some good news. It is an ideal time to buy a business premise for your own occupation. Lending is now available at up to 80% and rates are at an all time low of 3% or even less. For full details contact brian@bfas.org.uk and he will check whether or not you qualify.
What impact on Business Finance Advice will the USA's decision to bale out the leading mortgage lenders in the USA.
In a few words very little.
The main impact this has had is to add a little stability to the financial markets, rather than company profits. The dollar remained virtually unchanged with the news, falling against Sterling for a short tiem but recovering its position very quickly.
Lenders in the UK will hardly have noticed the effect on their ability to lend, but it will have given some strength to the underlying bonds which many hold.
Rates are slowly rising and lending institutions are looking to make savings in costs, but as stated before strong propostiions are still fundable. Make sure you seek independent advice on business finance and give yourself the best opportunity of success.
Brian J Haworth www.bfas.org.uk
We are often asked what differnce the current economic climate is making to businesses seeking finance advice.
There is no easy answer, as I have mentioned before there are banks still lending to the RIGHT project. If what you are proposing makes sense, can show good affordability and sound security, as ever there are banks out there willing to fund you. The real difference is still in the fringe areas, projects which are a little 'risky' or don't show affordability are likely to be knocked back.
Prepare well, be sure of your facts, make sure your proposition is sound and most importantly seek your business finance advice from an independent broker, they will be aware of the options in the market place and will know which is the most suitable bank for your project.
www.bfas.org.uk
The Business Idea or Active Business
Remember you are looking for Business Finance, this advice is designed to help you present your plan to someone who could assist you.
CLEARLY state what the idea is you are proposing, have you invented a new widget? Is it a Business to Business idea? What makes it different from anything else out there? Have you a track record in the business, if so make it clear what that is, what successes have had, how you intend to move forward?
Remember the plan will be read by people who may never have met you and may know nothing at all about the business sector you are or propose to operate in. Write it in laymans terms, use technical language where appropriate, but explain what it means so that you do not leave anyone up in the air.
I am sitting with an excellent business plan in front of me, it starts with a 6 line introduction to the 2 partners, and their RELEVANT experience.
The next section covers the key features, USP's, call them what you wish, of the proposal in 12 lines, this is what today's topic is about.
The market and marketing plan occupy 17 lines (mainly bullet points) and a similar length section covers the Financial Plan.
The final part of the Executive Summary is a progress to date and plan for future development synopsis.
These same headings are used to fill out the main part of the plan. What you should achieve from the Summary is something which makes the proposed funder want to read on and find out more.
Section 1 of the Plan which follows the Summary expands into 2 pages the personal details and relevant experience of the business partners. In this case the 2 partners expand this out to 2 pages. This is important, ask yourself would you invest in or lend money to someone who had no experience at all in what they were planning to do. That does not mean we cannot all learn new skills, but somewhere along the line you need to build in what experience you have which may assist the proposed funder.
Section 2 is the idea itself. In the plan I am looking at this extends to 8 pages. Each business will have its own unique concepts, USP's and proposals. Enthusiastically tell the reader what you are planning to do in some detail. Expanding on the thoughts you have put into the Executive Summary. It is difficult to be specific as each plan is different, but cover such areas as your values, products, services, positioning in the market place, purchase plans, sales plans etc.
More to follow, if you want advice on your specific plan, please contact bfas.org and we will do all we can to assist.
Brian J Haworth www.bfas.org.uk
In the world of business finance we often offer advice to clients to help them get where they are going, I came across this short article a couple of days ago and thought it may be of help
I hope this is a new slant on the theory of aiming high, a sort of mixture between aiming high and eating elephants !! Well that's how I see it.
To succeed in business and your personal life, you often hear that you need to be more competitive - that you need to keep 'raising the bar'. But is that really necessary... or even a good idea?
'Raising the bar' is a metaphor that was borrowed from thesports world. So let's see how it works there.
Let's say you come to me because you want to be a world-class high jumper. I've written a best-selling book called 'How to Be a Champion High Jumper', so you ask me to coach you. You come out onto the field all excited and ready to go.
I set the bar at seven feet, because that's what the world's best high jumpers can do. So you stand there looking at the bar waaaay up there.
I say, "Come on, you can do it! Think positive! Get psyched!"
You, being the trooper you are and not wanting to disappoint me, take a few steps back, then run as fast as you can, jump up with all your might... smack!
Not even close. You miss the bar by a mile.
"That's okay!" I say, clapping my hands. "You'll do better next time!"
You gamely try again and again. I try to keep you encouraged and motivated. But you miss that damn bar every time.
Do you realize how many people put themselves in a similarly impossible situation? They raise their 'bar' so high that even when they do accomplish something, it never seems good enough. Sound familiar?
That's why I often tell my clients to lower the bar. Here's the difference...
'Raise the bar' means:
* Close more sales.
* Finish writing your article.
* Make a million dollars.
* Find the right person.
* Lose 20 pounds.
* Don't make a mistake.
However, 'Lower the bar' means:
* Listen more than you talk.
* Start writing your article.
* Learn about smart investing.
* Be the right person.
* Exercise for 15 minutes today.
* Give yourself permission to be human.
Write down five ways you can lower the bar today, this week, and this month. Write down how and where you've expected yourself to be perfect the first time out. Then lower the bar... and give yourself permission to succeed.
DON'T FORGET THOUGH THAT ONCE YOU HAVE JUMPED OVER THE BAR IT THEN NEEDS TO BE RAISED OR YOU WILL BE LEFT BEHIND
Brian J Haworth www.bfas.org.uk
One thing to try to do when writing a Business Plan is to put yourself in the position of the person reading it.What do you think you would like to know about ~1. The Business Idea or Active Business ~ 2. The People Involved ~ 3. The Financial Projections an History (if applicable) ~ 4. If you are borrowing money how long before it is paid back.
Each of these areas needs further breaking down, but if you start by simply writing down everything you can think of which fits in to these categories, that is a start.
Next we will ' walk through ' these areas in detail and help you to flesh out the details.
Brian J Haworth
