start up loan credit

[iOzefini]

It is more convenient for me to take a start up loan or to make a leasing for a street food trailer?

 

[Mr D]

Which is more convenient for your business?

 

[Chris Ashdown]

Look for second-hand items which will be far cheaper and have most of the things you require

Leasing hard to find for start-ups but you may be lucky

If under 21 then princes trust could help with money

Many business loans demand personal guarantees, private bank loans unto £5000 normally don't

Learn as much as you can about the business where you are going to be sited, licence fees, many estate owners want paying for the site

 

[iOzefini]

govuk/apply-start-up-loan

 

[Mark T Jones]

Start up loan is more flexible and almost certainly cheaper

 

[iOzefini]

hello!
I want to open a street fast food business with start up loan help.
It is better that i do the business plan or I need a professional one?
(I have the plan support from the Start Up Loan Company).

 

[Chris Ashdown]

The business plan is for you to prove to yourself that you have looked at all the costs and competition, worked out your suppliers , selling price and associated costs. That means in real terms you have thought of the majority of potential problems and costings and can make a profit at the end of the year

The next part is to make a simple cashflow forecast based upon the plan (available from all banks for free) to prove to yourself that you wont run out of money after a few months

Your investor would like to see your plan

Is a business plan a requirement, No you can wing it especially if your in the same trade and know all the answers (leave your company and start a competition), but even then Cashflow can come and bit you

 

[Mark T Jones]

hello!
I want to open a street fast food business with start up loan help.
It is better that i do the business plan or I need a professional one?
(I have the plan support from the Start Up Loan Company).

You certainly don't need a professional one - most of the professional ones I've seen are rubbish

However, as Chris has said you need to have put together an outline plan to establish both the need and the ability to repay a loan

Start Up loans will appoint you a mentor to help to refine the plan.

 

[Daugela]

Hi,
If you would like professional help with your business plan or financial forecasts, please message me directly.
Thanks