Starting a new business - need capital

marina_gnatuk

I think that the best way to receive a loan or funding from investors is by developing a detailed business plan. Angels want to be persuaded that your business if profitable.

The most effective way to prove that your business is worth investments is by showing your potential investors a financial forecast of your revenue assumptions. Thus, you should develop a simple business plan or ask someone to help you out.

rhysadams

One of the best platforms I have used in the passed is funding circle but don't expect a loan with good terms and without guarantees or indemnities. These helped me invest in a larger property to help me expand. When I had the money to pay the loan back, I did and it was nice and easy.


Have you thought about asking friends and family, a little bit like Dragons Den and getting them to buy shares in the firm. Eg. £100 gets you 1 share. Then get your accountant to split the share rights to A. B, C's so that you keep overall control of the firm and can pay different amounts of Dividends.


Make sure this money goes as shares and not any loans.

brewthebear

As its now 7 months sincestart u, how is the business going Can you update please.

k3lvc

brewthebear wrote: »

As its now 7 months sincestart u, how is the business going Can you update please.

OP hasn't visited MSE since Dec '17 so I wouldn't expect an update any time soon. Based on one of the previous posts there is a website up and running now but I certainly wouldn't expect it to be generating VAT incurring revenues

Mistral001

You probably need to change your script if you give "purchasing stock" a reason when applying for a loan or a grant.