Getting to the point …
Banks are undergoing a deflationary contraction of their balance sheets, and can be expected to continue to do so for some time. Even great businesses with positive track records and potential are deeply constrained in their access to funding. But there are options.
Firstly, any business should be looking at itself. Are there ways of squeezing greater cash out of the business so you can self-fund? Unnecessary cash tied up in the business, whether in inappropriate credit terms, stock levels, organisational or operational arrangements and poor asset funding choices reduces your potential to change the business for the better in releasing cash for what really matters.
A deeper understanding of the business often means that internal finance can be generated, and it is then important to flex this for what-ifs so that it isn’t squeezed too far to expose vulnerabilities elsewhere.
We can then look at funding options from asset finance, invoice finance, short or long term bank debt, to external funding from those able to contribute money and expertise.
This may also involve the issue of loans or equity to external investors, and critically the negotiation of terms and the ongoing commitment and relationship with external funders. FYI will work with you to ensure that the solutions fit the needs, with proper project management and access to appropriate advisors as required.
FYI … Control your destiny!