Articles
Something doesn't add up
Managing Director David Grosse's latest article for www.Business-Money.com, this time focusing on on the holes and hurdles that still exist in the business finance marketplace.
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Counting the Cost
Managing Director David Grosse's latest article for www.Business-Money.com, this time focusing on on the effects upon businesses of online platforms
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Don't get burned
Managing Director David Grosse's latest article for www.Business-Money.com, this time focusing on the potential pitfalls of a quick and easy online route to finance, and how the right people can steer you away from a potential timebomb.
For more information about any of the topics touched on here, please contact him on This email address is being protected from spambots. You need JavaScript enabled to view it.
Tackling the Elephant
Managing Director David Grosse's latest article for www.Business-Money.com, this time focusing on the rise in fintech and why it can never beat advisory-led financial advices.
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Working with Lenders vs Advisory Led
The business finance market is awash with alternative/non-high street bank lenders.
Depending on what article you read or believe, there is anything from 50 to 360 UK based providers of business finance. Each have a different way of working and each have a different way of underwriting.
How then does a business owner decide on the best-fit lender for their company?
The Bank Referreal Scheme
Number Eight Business Finance has worked with businesses of all shapes and sizes. For example, we have helped a micro company with a turnover less than £100k and we have been able to assist with raising over £2m for a large size business with a turnover in access of £75m. In both cases, their respected banks were not supportive.
In most cases, we have been introduced to our customers because their bank has said “no” or their bank has said “yes”, but the set of covenants or conditions of offer have proven unworkable or inflexible.
Access to Best Fit Finance
Access to best-fit business finance products remains clunky and the pathways are limited. This is not good news for business owners or lenders alike and the knock effect is that the UK’s productivity and growth is being thwarted. The good news, however, is that technology is trying to facilitate new ways to deliver improved access and when it does, it will permanently change the way that finance can be selected, approved and delivered.
One Vision One Ambition
An ambitious business owner will understand their business well. They will also understand their marketplace; customer base and competition. Having a vision to create the best product and give the best service is driven by a combination of passion and determination to succeed however, sometimes, when a certain point is reached, the ambition will be to grow, expand and take the business to the next level.
It’s at this stage that some business owners get a bit stuck and a bit lost on how best to proceed.
