As a member firm of the Institute of Chartered Accountants (ICAEW), Garside & Co offers business advice in the following areas:
- Access to finance such as bank loans or outside investment
- Business plans
- Business start-ups
- Small scale equity issues
Access to finance such as bank loans or outside investment
We can advise on the funding options available and how applications for loans and overdrafts should be structured.
We can also help you to consider the appropriateness of business support scheme options, such as the National Loan Guarantee Scheme (NLGS) and Enterprise Finance Guarantee (EFG) scheme.
Our service covers the review and preparation of a business plan and how it will be used. The aims of a business plan should be to:
- consider the most appropriate forms of finance for the business, including consideration of debt finance such as banks loans, overdrafts, leasing, invoice finance and export finance, as well as equity finance;
- provide advice on how financial institutions make credit decisions;
- consider the growth and changing finance options during the life of the business to help secure finance;
- provide details and focus on the business’ objectives;
- be a benchmark for the future;
- be a tool to see how the business is managed;
- test if the business or a new income stream is viable;
- test if a new market is viable;
- improve the business and help identify inefficiencies; and
- ultimately to give the business the best possible chance to succeed.
Key points in the lifecycle of the business will need to be considered. The life cycle changes could result in the need to take on more staff, the opportunity to move into new markets (for example exporting or a new type of customer), the requirement to invest in new premises or other assets like plant and equipment, the opportunity to invest in new products and services, the need for more working capital to hold increased stocks or debtors, or to negotiate better terms with suppliers.
The business will need to consider its ability to cope with the change and its financial needs. It will carefully look at all the options that are available, including:
- increasing equity;
- making the most of its assets by looking at asset based finance options;
- looking at the alternatives to the traditional overdraft for short term finance, including peer to peer lending; and
- using export finance including guarantees and insurances.
Where a business plan is in support of an application for finance or investment, the length and details included will vary according to the type of finance being sought.
Our service helps start-up business to consider the most appropriate forms of finance.
It will include personal funding of a new business that may come from any assets that the entrepreneur has, including personal savings. It also includes finance from friends and family.
Small scale equity issues
We offer advice on the following:
- Raising finance from director shareholders, without making a public offering.
- Consideration of the tax incentives and conditions that are available under the Government’s enterprise initiatives, such as the Seed Enterprise Investment Scheme (SEIS), Enterprise Investment Scheme (EIS), and Venture Capital Trusts (VCTs).