production management
Every business at one point or another will need some form of financial help. It could something as
mundane as which bank to choose or how to deal with debt. It could be how to raise funds for expansion
or how to buy another business. Either way, knowledge is power and you need to know where to turn.
Financial advice for
small businesses
read more about
management at
www.mwponline.com
Features
■ National Skills
Academy - beyond
academia
http://tinyurl.com/3df28k
■ Shrinking a waste
problem
http://tinyurl.com/2nmo3j
■ Health & Safety at
Work Act 1974
http://tinyurl.com/3ymkuh
THERE are many different sources, some free, some
paid for, and here show you a sample (not a definitive
list) of what is available and where to find it.
The Business Links
This Government sponsored network of independent local
business information and advice centres offer a wide range
of services to the business community, designed to enhance
the competitiveness of local companies. They are run by
partnerships which include Chambers of Commerce,
TECs, Local Authorities, Enterprise Agencies and DTI.
They offer a range of programmes, help, sources of advice
and funding for most business needs. When it comes to
finance, they can offer assistance, specifically, with matters
such as choosing an accountant or business advisor, debt,
business planning, borrowing, shares and equity, grants
and support, insurance, retirement planning.
The starting point to finding out what is available is to
log onto www.businesslink.gov.uk. There you’ll see plenty
of different menu options including tools, for example, to
help you choose the correct type of finance for your
business. You can search a directory of around 3000
different financial assistance programs - some free - that
are available according to your need, location, business size
and business sector. But the Business Links offer much
much more if you spend time filtering through the website
- and making contact with your local Business Link.
The Banks
The banks want your business, may be the most logical
place to start, and may wish to show off their business by
having business managers who can offer some help as well
as websites with background information that might be of
assistance? But banks vary when it comes to the structure of
their websites and the information they provide; let’s look
at how the big four banks differ.
What could you make with this TM-1 Mill
for less than £58 per week? *
*All offers are subject to status. Delivery is not included. The above example is hire purchase fixed rate based on a VAT only deposit and a cost price of £11,995 +
VAT. 60 equal payments of £249.80. A documentation fee of £100 will be collected with the first payment. Total amount payable is £14,988. Typical APR 9.9%.
For details, or to view this machine locally call 01603 760539 or visit www.haas.co.uk
16 MWP january 2008
Barclays’ website www.barclays.co.uk/business/ seems
more geared to product sales rather than a mix of
information and Barclays products. The information is
there, but it’s harder to find - look for their Business
Information Factsheets. They also offer Barclay Business
Manager software that includes an accounts package, a
planning/marketing program, and HR and Health &
Safety compliance programs - all for a ‘small’ monthly fee.
If you go to HSBC www.hsbc.co.uk/1/2/business, you’ll
find a page that leads to information on their products -
bank accounts, savings, business insurance, commercial
mortgages etc - but it features a tab along the top called
‘help with your business needs’. Click on that and you’ll
find options that include ‘preventing card processing
fraud’, ‘buying commercial property’ and ‘managing
cashflow’. Follow the options through and some good, free,
tips appear. It’s much easier to navigate.
Natwest www.natwest.com/business.asp however have a
series of online business guides that seem bitty and possibly
a little basic. They offer free their Natwest Business
Software which features a business planner, software to
manage your accounts, invoicing and customer and
supplier records.
LloydsTSB www.lloydstsbbusiness.co follow a similar
tack to HSBC, with well structured menus and the same
level of detail. Under the ‘Guidance’ tab on there are a series
of well structured links to guides on subjects key to
running a business. LloydsTSB also offer - for £22.95 - an
expert advice service that covers employment, health &
safety, tax, VAT and legal matters. It comes with legal
expenses insurance.
You may also find that you can get a better deal by
switching bank. Often you can get 18 months free banking,
if not totally free. The Alliance and Leicester Commercial
Bank www.alliance-leicestercommercialbank.co.uk is a
good example of this.
£58 pw*
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