How do I access the right funding for my business?

Cash-flow is always a key pressure for SMEs, but during these tumultuous times, with COVID-19 continuing to cause dramatic disruption in both our personal and professional lives, and the true effects of Brexit still to be felt, never has British business faced such adversity in our lifetimes.

The wide array of support offered by the government has been vital in keeping many businesses afloat, including tax relief, the job support scheme and numerous business loans and grants. However even with all this extra help many business owners have been left scratching their heads when contemplating which is the best fit to support their business. That’s where finance brokers can add value, by providing the right advice, at the right time to help you come to the right decision.

Engage with a broker to get a better understanding of the options available to you.

Two thirds of SMEs have never engaged a broker. In addition to providing consultative advice, a good broker will also have access to tailored products to assist you with specific business aims, these kinds of loans are rarely available from your high street bank and require someone with the expertise to highlight them for you.

Getting rejected for business finance is always tough, it can leave you feeling deflated, bewildered and often frustrated after jumping through numerous hoops only to fall at the final hurdle. Brokers can increase your chances of obtaining funding massively, as they understand the marketplace and which funder will provide the best fit for your business.

Its not just brokers, in these uncertain times its important that SMEs get as much advice as possible, reach out to your accountant or a solicitor, a wider range of guidance could prove invaluable.

Adaptable Finance has access to funders of all sizes and specialities, we can provide free impartial advice to help your business not only survive but thrive in the post COVID-19 landscape.

In short, don’t try and weather this storm alone, personally or in business. Reaching out to the right people can be a shaft of light in an otherwise dark and confusing time and is the best way to ensure your business’ ongoing resilience.