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Newsdesk - September 2011

Funding Options for your Business

If you are looking for funding for your business remember that apart from loans there are other options available which may suit your business better.

These options include:

  • Bank overdraft
  • Trade credit
  • Credit card
  • Hire purchase
  • Leasing
  • Equity investment
  • Grants (Government, Local Government and Enterprise Boards)
  • Factoring / invoice discounting
  • Investment

But How Should You Choose the Best Option?

You should start by thoroughly researching each option to identify if it is suitable for:

  • Your business
  • What you want the money for
  • Your preferred repayment terms
  • What you can realistically afford
  • Your perceived risk to lenders
  • How appropriate is it for your business

Always prepare to be flexible in your decision and be willing to look at alternative options if you are unable to secure the finance or terms you want.

It’s better to turn down an option that would stretch you financially rather than risk defaulting on payments.

For further information or advice on what options best suit you and your business contact Shane in our Business Advisory Dept, Colm in our Audit Dept, Susan in our Tax Dept or your usual contact in Anne Brady McQuillans DFK.

Free Yourself!

Do you feel snowed under by information? Do you have a bulging e-mail inbox, cabinets full of paper and information?

By being a bit more organised and getting rid of un-needed information we can all free ourselves of this burden and focus on the more important things in life…

A few practical steps are:

1. Clean out your desk… A messy and unorganised area stifles performance… Get rid of the junk you have hoarded over the years…
2. Organise your e-mail… Routinely delete unimportant e-mails, archive others or create e-mail folders…
3. Delegate… No matter who you are, you probably deal with clients / customers that others are more than capable of dealing with… They will be happy to do this as they will feel you have confidence in them… This frees you up to deal with the more important things…
4. Focus on the important work… Schedule your day, every day… Decide on what / who is important and deal with that…
5. Work smart… More is not necessarily better… Use your own systems and technology to their max…
6. Get rid of the unnecessary and free yourself!