This guide gives you the lowdown on what to expect when applying for a business bank loan. It starts with the preparation stage to ensure you’re fully prepared to walk into a bank and impress the bank manager so much that your application succeeds and you receive the capital required.
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Learning to negotiate with investors will help you secure the best possible deal for your business. Your investor will try to strike a hard bargain – remaining strong but being flexible is key to success.
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The majority of new businesses fail within five years, many because they make too little money and spend too much. In the early years, maintaining tight control of costs and knowing exactly what needs to be spent is essential. Business owners that don’t know how much they will be spending each week risk significant trouble if costs suddenly spiral out of control. Projecting start-up costs in the short and long-term is essential to building a profitable and sustainable business.
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After a recent two-day visit to Beijing, Chancellor George Osborne announced bold plans to establish London as an offshore trading centre for the Chinese Renminbi, bringing widespread opportunities to British businesses.
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