Businesses in the Southampton area needing to raise finance require professional advice, which HJS Accountants can provide. Here are some of the issues you will need to consider...

While many business owners feel confident about presenting a finance proposal to a bank, a surprising number of proposals are actually turned down. Here are some essentials for raising finance:

1. Choose the right financier

Spend time thinking about the most appropriate funding source for the project or objective. Long-term projects are probably not best funded by overdrafts or loans in debt. Learn about the various sources of finance and select those best suited to your purpose. If in doubt, seek our help.

2. Provide the financier with the right information

Often, unsuccessful applicants will complain that the lender did not seem interested in their business, but this is not necessarily the case. More often, it is not because the idea is lacking, or because the bank disapproves of the proposed development. Rather, it is because the proposal is not presented in terms that will appeal to a potential lender.

Make sure that you fully understand the information that the bank wants. This often means much more than simple financial projections.

To have confidence in an enterprise, a financier usually wants to gain an appreciation of the business, the quality and depth of management and the key people involved - and this information should be presented in a suitable way.

3. Take professional advice

It is best to use the services of a professional when preparing and presenting a proposal. We can help you prepare a solid, detailed business plan that will attract financial support, and perhaps identify potential financiers who will meet your needs.

A well-prepared proposal presented to a carefully chosen lending source will have a greater chance of success.

As well as having good contacts in the Southampton area, at HJS Accountants we have experience of drafting well-presented proposals that will have the maximum chance of success in raising business finance.

Southampton Office

12-14 Carlton Place
Southampton
Hampshire
SO15 2EA

Tel: 02380 234 222

Winchester Office

6 Charlecote Mews
Staple Gardens
Winchester
SO23 8SR

Tel: 01962 842000

Reading Office

3 Richfield Place
Richfield Avenue
Reading, Berkshire
RG1 8EQ

Tel: 0118 9511 115

London Office

90 Long Acre
Covent Garden
London
WC2E 9RZ

Tel: 0203 470 0777