Archive for category New Business
How to Raise Finance for a New Business Venture
Posted by admin in New Business on September 28, 2011
Many banks in the United Kingdom are holding onto to their assets and frankly are afraid to lend to people so they will be unable to start new business ventures. The venture capital firms in the United Kingdom are out there operating as an alternative for capital raising when it comes to the banks, The agreements that some venture capitalists have you sign are complicated and in fact make some people feel very confused about the process. The only option many people have then it to borrow against assets that they already have in their name.
A banker may be willing to suggest that you re-mortgage your home as a way of raising capital. A person who already has a business established may take the advice that they go out and get a second mortgage on their business/commercial property. It can be smart to take a look at your company’s sales receipts before you go out and request a re-mortgage associated with that business venture.
A third type of asset that you can possibly use as collateral in order to get a small business loan in the United Kingdom would be any income protection insurance plan that you have or some sort of individual retirement or savings plan that you have. The truth of the matter is that if you and your family members truly believe in the concept of your business then they should have no problem with the concept of how you go forward and re-mortgage your home. If you are working with a bank that has known you for a long time, then it may only take a month or so to process your request to re-mortgage your home. Read the rest of this entry »
Information on Starting a New Business
Posted by admin in New Business on September 28, 2011
There is a lot of stuff to do and remember when starting a new business. It is like a complex recipe with more than 100 ingredients; no two people will follow the recipe the same way. In fact, there are many variations of the recipe as well, depending on the type of business you start and where you live.
Here are some common things that all business will have to do.
1. Decide on a name for your business
The simplest business name is simply your name and your product. For example, Bob’s Burgers or Henry’s Laundromat. This is a nice approach; when you are small, it produces a business name associated with your person, and it can work for large businesses too (think Wal-Mart or Ford Motor Company). These type of names are informative names. Then there are abstract names, or names that suggest meanings. Consider Oracle, the world’s largest database company. The “oracle” is the traditional sense is a person who either tells the future, or gives wise advise. It’s a great name for a software company whose flagship product is about information storage and retrieval. Twitter is another name which invokes the imagery of birds chirping. You can have made up words in your business name, too.
Make your business name flexible. If you call yourself “Farmtown Oil Changes”, what if you expand your business to other locales, or expand your services to include transmission and brake services? Customers who simply see your name might not know you have locations in other areas, or that your car repair services are comprehensive. Read the rest of this entry »