Most businesses need access to finance at some stage – either to get started or to help the business grow. Here we look at the most common sources of funding.
An alternative to starting a business from scratch is to buy one! You will be buying an operation with products, customers and staff already in place. But at the same time, you will have full freedom to make whatever changes you want to as the new owner.
Here are Bytestart’s pros and cons of buying a business.
At the March 2023 Budget, Chancellor Jeremy Hunt announced some major changes to the amount of tax relief you can claim on pension contributions. He has been criticised for giving a tax handout to a wealthy minority during difficult economic times.
If you work for yourself and want to buy a property, you’ll have to prove your income to your lender. We look at how the mortgage application process works for both sole traders and limited company owners.
Starting a pension to save for your retirement is relatively straightforward. Here’s what you need to know about setting up a pension when you’re a sole trader.
As a small business owner, getting paid on time for all your transactions is essential. A late payment to a small business affects the business in many ways, from potentially not being able to pay staff or not being able to pay rent on time.
Financial crises are not like your average recession or corporate fraud. They involve firms and people overborrowing, usually to speculate on shares or real estate. They turn legitimate economic booms into gluttonies of lazy assumptions, hucksterism, and recklessness. Because they’re based on debt, the loss of confidence in one specific area of trouble quickly reverberates. Presto, credit dries up for everybody.Read More »The 10 biggest financial crises in history & how they changed business
When it comes to buying or selling a business, the most important question you need to ask is – how much is it worth?
There is no single formula that can be used to precisely value every private business. The seller will want to drive the price up, and potential buyers will want the opposite.Read More »What is my business worth? How to value a small business
If you’re doing well enough that your business is growing rapidly you would expect your finances to be healthy. But that isn’t always the case.
If your firm is expanding quickly, you could find that your cash flow becomes a problem, even though your business is profitable.
It’s a unique financial situation where you are selling so much that you can’t get the money in the door fast enough to pay for the raw materials you need for your next batch of products.
Read More »Factoring for small businesses – the pros and cons
Fundraising for your business is rarely a walk in the park. It’s a tough process, regardless of the industry you’re in, it can take up vast amounts of time, and more often than not, ends in failure.
Communicating effectively with investors will really boost your chances of success, so we asked funding expert, John Auckland, to reveal which buttons you need to press to get investors onboard.Read More »How to communicate effectively with investors
One of the biggest obstacles to growth for start-up businesses is investment. Investors are often reluctant to commit their money to a new business with a promising idea but no track record of success.
Fortunately the Government lent a helping hand in 2012, and introduced the Seed Enterprise Investment Scheme (SEIS) to help smaller, riskier companies attract investors willing to take a punt on a bright idea becoming a successful business.Read More »Start-Up’s guide to the Seed Enterprise Investment Scheme (SEIS)