Kevin Robson, MD of business consultancy Capable Consultants, de-mystifies the world of business finance and says now is the time to go large:
This is an unusual time with established companies joining others in going to the wall. Even those businesses considered immortal and invulnerable, or collectively clients at all stages of the catering equipment supply chain, or even worse, the company you work for that pays your wages, are all under pressure.
News programs are full of spectacular financial crashes, cuts and cutbacks. It all makes for a very depressing outlook. But is it out of our hands? And what can we do about it?
Well, the great news is that now is the time to take your future into your own hands.
This government’s been more than great, with its furlough schemes, business interruption and bounce back loans as well as large scale intervention, but as Chancellor of the Exchequer Rishi Sunak himself admits, the government can’t save every job.
With this in mind, why not go out for yourself and salvage your own situation? If it goes well, you might be the saviour of many others.
We are all told what can be done, and what can’t – ‘led by the science’ – but a new economy will survive and some will start to flourish.
So what is it that you could do, if it was bankrolled, that would make your heart sing, and/or make a difference to people around you, that they would really appreciate?
What well-intentioned, good meaning enterprise would be your quest? Most people say it’s lack of finance that restricts their ambitions. But at the moment the money people are sitting on pots of cash that nobody is asking for, or seems to want.
They’re granting (or not granting) overdrafts and extensions to those stricken, giving them a chance to dig themselves out of the mire.
To anyone that’s not had to go cap in hand to the bank or to the money men it can be, and often is, a daunting experience. The good news is that you don’t have to go alone, and in some cases, not even go at all.
There are money brokers, in the same way as you have insurance or stock brokers, who will do it all for you: the legwork and the brainwork.
Of course, they expect to be paid, but if they can make things work, and their cost is factored into your proposition, then they are well worthwhile and can make the difference between a yes and a no. Whether you pay them for success only is up to you. There are lots of them out there, and you can choose.