The continuing fallout from the June general election has only served to add to the air of confusion and concern, it adds.
There are a number of variable factors at play on the international stage, not least the dwindling strength of sterling on the world markets and a growing crisis of confidence.
However, my experience at Pierce Chartered Accountants is that while there IS uncertainty nationally and internationally, there ARE opportunities for businesses and entrepreneurs looking to take their companies to the next stage.
A good time to invest?
There’s never a good or bad time to invest per se. Corporate finance requirements depend on the specific life stage of your business. Even if you aren’t actively looking for additional financial support right now, it’s important to have an effective business plan in place that will support you in ensuring that you are ready to invest when the time comes.
Is funding available?
Despite concerns about the availability of growth finance, the reality is that money is available from a number of sources. We have longstanding relationships with numerous organisations who can provide advice, support and insight, including the East Lancashire Chamber of Commerce.
Where should I raise money?
There are many different forms and sources of corporate finance and much depends on the individual characteristics of your business. Alongside more traditional forms of finance from banks and financial institutions, there are now opportunities with private funds and individuals, or “angel” investors, as well as a large number of equity-backed funding options.
What type of businesses are looking to grow currently?
Early stage technology companies are among those that are most actively seeking growth funding at present but there are many more traditional businesses seeking corporate finance solutions too. We have experience in securing funding for acquisitive and growing private businesses such as Calderprint, which raised money through the Lancashire Business Growth Fund, and also advise start-ups on issues ranging from accounting to trademarking their assets.
Why is it important for businesses to grow?
Not every business owner has ambitions to grow a large corporate entity. However, anyone in business will know the risks of standing still and stagnating. Suppliers and customers change, as do their needs. Staying ahead of the game need not necessarily involve additional corporate finance but we would always advise our customers to be mindful of what the future might bring.
David Sharpe is Corporate Finance Director at Pierce Group.