Let’s look at two young people who have both made their small business into a huge success.
Does London’s new Mayor mean business?
London has chosen and we have our new mayor. Sadiq Khan, Labour’s candidate and London’s first Muslim mayor – and self-titled “mayor for all Londoners”. But what impact will he have on small businesses in London?
Asset-based finance
Asset-based finance is the raising of funds using your existing assets as security. Assets can include invoice finance, – where business secure funding against the value of unpaid invoices – stock, equipment and property. According to the Asset-Based Finance Association ABFA, asset-based funding in the UK breaks down into roughly around 80% invoice finance and 20% the rest.
Money doesn’t grow on trees!
For a small business owner the landscape of business funding can be bewildering. Not only that, but there is still an unacceptably high rate of rejection for those small business trying to get a business loan. This is despite a supposed improved availability of credit: The British Business Bank (BBB) recently reported an increase in bank loans of £1.6bn from 2014 to 2015.
