Anyone own their own business or knows about how they work???

    Hi thanks for having a look. Im seriously thinking about setting up my own business. i may need around £130,000 funding. which is quite a sum lol. anyway does anyone have any advice??? or anyone work in finance, that could advise me where to get some loans.funding etc?



    You'd prob get more sense if you speak to a Business Advisor at the Bank...

    I remember Barclays advertising free advice at some point, so it may be worth contacting them to see if they still offer that service.

    You'll need to give full proposal details as well, such as outgoings/premises/overheads etc, so be prepared for some probing questions.

    £130k is alot of investment.. banks = insane interest and will turn you down anyway without a sound SWOT analysis etc.
    Private investment is the better way to go but it will be at the cost of a % of the business.. and you'll need alot of your own capital to start with if you are serious.
    Do you have a business model planned out?
    Office costs considered if applicable?
    Legal costs/ accountancy costs?

    Alot of work to be done in planning.. I think some of the big banks offer free advise to start ups (if they think they can make some cash out of you).

    Original Poster

    Im with Lloydstsb

    the £130,000 includes stock, refurb, till system etc. and i have a site in mind have the details of rent etc...

    The company said id prob get between 50% and 70% from the bank. the rest id have to get from investments or capital.

    I am meeting with someone this week to talk about my business plan etc..

    :lol: Hold your horses there fella! Thinking about finance is way down on the 'starting up a business' list of things to do. A good starting point is here:

    Take some time to look around the site and get a feel for things. If you give me some more details I can help you out a bit more :thumbsup:

    Original Poster

    ive PM'd you sintass with more info...



    Original Poster

    sorry got carried away reading lol

    im at work at 11.30 but i can give you my email addy in PM and we can keep intouch via that if you dont mind. i dont mind answering any questions...cheers
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