Tired of trying

JAB123_2

I'm not sure if this is the right thread - but it is having a knock on effect on my marriage.

I'm in business and have been for the past 18 months, i have put my all into it and today i just heard that even under the small firms loan guarantee scheme i can't get additional funding, my argument was that i needed to re-finance the business in order to develop extra income streams, they still said no, even with a 30 page business plan i thought was watertight.

I can see the potential for making a long term business but i'm starting to get lost and depressed in my journeyboth me and my wife are now seeing a counsellor, i've given this my all, both financially and emotionally and i don't want to give up the only thing i have that i can say is mine,i have an immense talent for what i do, my wife has said no to further funding via a security on the house. I've just recently nogetioated with my credit cards a 6 month plan but what happens after that?. I so deseperatly need this to succedd but i'm finding it hard to keep focused and keep trying.

Help :-(

mags50_2

I can't offer any help or suggestions... I just saw your message had been read a lot of times and no-one had answered.... and you need help...

i've no idea what sort of business you run, but could you take a day off... a step back from it and get things clear in your head... sometimes we cant see the wood for the trees and all that...

pretty useless advice I know and i'm sure lots of others will give you better... but didnt want you to feel as if no-one is taking any notice of you.

Take care

calleyw

You are in tight position.

But do understand where your wife is coming from. What if the business fails and you are not a limited company which I assume you are not. You could lose your home.

Sounds like a stupid question but have you approached your own bank. Or even making an appeal to the small firms loan guarantee scheme.

Running a business is never easy. And even harder when you are still growing and you can't get the money you need to expand.

I don't know what to else to say. But wish you the best.

As mags50 say maybe you need to take a step back from the business. Look at objectively and try and work out why they said no. Also think if you where approached by someone to invest in your business. Would you. Does it seem like a good investment.

I am not trying to do your business down. But you have to look at it as other people do.

But you need seperate business and home life if you can.

All the best.


Yours


Calley

Loretta

I run my own business, if you do not have a suportive partner or wife it is very difficult or even impossible as I know, take any help that if offered and if you think talking to someone would help please pm me, I know what you are going through

JAB123_2

Thank you for your replies - it does feel like a black hole at times and even the smallest words of encouragement helps me through. My wife comes from a very caring and loving family and she is very risk averse, i come from a broken family,my father recently ended up in prison for a very stupid mistake and i am still suffering as a result, this did play a part in my decision to start my buisness.

My wife at the end of the day will be fine - she stands to inherit either a vary nice house in the country or a large flat worth £250k.I realise that if i put myself in her shoes what would i do?; simply i would put everything i had in order to make things happen - she's not going to do that and it makes me angry.

I need time to review my sitation and realise the reasons why my small firms loan was refused by the bank, but i do think the bank is not being very understanding as they are holding a failed project last year against me.

JAB123_2

mags50 wrote:

I can't offer any help or suggestions... I just saw your message had been read a lot of times and no-one had answered.... and you need help...

i've no idea what sort of business you run, but could you take a day off... a step back from it and get things clear in your head... sometimes we cant see the wood for the trees and all that...

pretty useless advice I know and i'm sure lots of others will give you better... but didnt want you to feel as if no-one is taking any notice of you.

Take care

Thank you - it is quite worrying when everyone looks and reads then moves on becuase they can't feel as if they can offer any words of encouragement, thank you very much - i do appreciate the effort.

Thank you

JAB123_2

calleyw wrote:

You are in tight position.

But do understand where your wife is coming from. What if the business fails and you are not a limited company which I assume you are not. You could lose your home.

Sounds like a stupid question but have you approached your own bank. Or even making an appeal to the small firms loan guarantee scheme.

Running a business is never easy. And even harder when you are still growing and you can't get the money you need to expand.

I don't know what to else to say. But wish you the best.

As mags50 say maybe you need to take a step back from the business. Look at objectively and try and work out why they said no. Also think if you where approached by someone to invest in your business. Would you. Does it seem like a good investment.

I am not trying to do your business down. But you have to look at it as other people do.

But you need seperate business and home life if you can.

All the best.


Yours


Calley

The business is limited - and the bank has a security on the house, if the buisness fails i need to find £20k which i don't have on top of my personal debts used in the first instance to start the buisness. I am determined not to go bankrupt as my father went through it many years ago and it was a horrible experience.
What's frustrating is when i ask my accountant to help he just says well this will cost you this and that - then i'll help, yes he has bills to pay, but all i need is one person to understand my position who has been here befoer and realises the difference investing would make.

chickadee

Hi, If your business idea is as watertight as you think, how about approaching alternative investors? The Small Firms Guarantee Scheme isn't the only investor. There are many private individuals out there with venture capital ready to invest. Perhaps you are good at ideas but not so good at thinking them through or need help with marketing or production? What about finding yourself a business partner with strengths that will complement your own? In England we have an organisation called Business Link that supports businesses. Is there a Scottish equivalent? They may be able to critique your business plan for you or even link you up with potential investors or partners.

Your wife is probably worried that you are risking your family's future security. Perhaps sharing the risk will help her to feel safer with your business idea?

I hope you can overcome your present difficulty. Good luck!

fiobee

JAB123 wrote:

i don't want to give up the only thing i have that i can say is mine,i have an immense talent for what i do, my wife has said no to further funding via a security on the house... My wife at the end of the day will be fine - she stands to inherit either a vary nice house in the country or a large flat worth £250k.

I have a lot of sympathy for your situation but... your business is not the only thing that's yours. You have your wife and family too. You know she's risk adverse and, as others have mentioned, you're asking to risk the roof over both your heads. It doesn't matter if she has rich relatives - you only inherit when someone close to you dies. Hardly something to look forward to. I'm sure your wife wants to support you (as she's part of a loving, caring family) - just on a more low risk scale. Any relatives able to help? Different banks? Venture capital? Perhaps some small household cuts can carry you through the short term - shopping budget, downsize the car, etc? Is your wife involved in the business? Would it free time/money if she did the admin? I'm sorry if that's not been particulary helpful - I hope you find a solution you can both agree on and get through this difficult time. ((hugs))

JAB123_2

chickadee wrote:

Hi, If your business idea is as watertight as you think, how about approaching alternative investors? The Small Firms Guarantee Scheme isn't the only investor. There are many private individuals out there with venture capital ready to invest. Perhaps you are good at ideas but not so good at thinking them through or need help with marketing or production? What about finding yourself a business partner with strengths that will complement your own? In England we have an organisation called Business Link that supports businesses. Is there a Scottish equivalent? They may be able to critique your business plan for you or even link you up with potential investors or partners.

Your wife is probably worried that you are risking your family's future security. Perhaps sharing the risk will help her to feel safer with your business idea?

I hope you can overcome your present difficulty. Good luck!

You are right - i need help to fill the skills gap i don't have, i've been doing everything from sales to networking and doing the job right from the word go and it's getting on top of me - i had an excellent product to sell last year, the only thing being that i had to trust a third party to help make it work as i was busy working on the current cash cow, needless to say it didn't work and i'm very angry at the lack of commitment - i blame them in part for the situation i find myself in now.

But would an investor/business partner take me on?, i do beleive quite sincerely that i have the formula to succed, but it's just letting people know about it and busting my gut convincing people to buy it. My wife is very supportive on an emotional level with the business as we do already have a security on the house, it's just that i've been unable to keep my promises due to cash flow issues with the business, so the knock on effect being a lack of trust and resentment has built up, all because of something i have created.

I'm going to speak to my small business advisor over the next couple of days at my local business gateway, i will revise my buisness plan and try again, i will let the forum know how it all goes - it maybe a while but i'm going to keep trying.

JAB123_2

fiobee wrote:

I have a lot of sympathy for your situation but... your business is not the only thing that's yours. You have your wife and family too. You know she's risk adverse and, as others have mentioned, you're asking to risk the roof over both your heads. It doesn't matter if she has rich relatives - you only inherit when someone close to you dies. Hardly something to look forward to. I'm sure your wife wants to support you (as she's part of a loving, caring family) - just on a more low risk scale. Any relatives able to help? Different banks? Venture capital? Perhaps some small household cuts can carry you through the short term - shopping budget, downsize the car, etc? Is your wife involved in the business? Would it free time/money if she did the admin? I'm sorry if that's not been particulary helpful - I hope you find a solution you can both agree on and get through this difficult time. ((hugs))

I realise that at the end of the day no matter what happens to me my wife wil be fine which is why i mentioned her inhertiting, i'm trying to vent my frustration at my current situation and am not wishing ill on her parents at all as i have come very close to them as thay have opened up their family to me. I don't come from such a supportive family and as such i have a diiferent mindset, my parents did divorce and my family quite literally ended up at the four corners of the globe not talking to each other, so i find it hard to see that support can come emotionally not just financially as has been the case with my own family.

Unfourtunately i cannot turn to any of my family as no one has any spare money and due to recent events i'm not on speaking terms with my father who to be frank sucked me dry emotionally due to a nice prison sentence as a result of his inability to form loving and supportive relationships after the break up of his own marriage.

I love my wife more than anything in the world, and i am determined not to let history repeat itself, i just need that one break - someone to say here's the money you need and i'm going to fill your skills gap and let's make it work. Am i asking to much?.