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Business Start-up Financing Issues Discussed |
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(21st May 2008)
Those looking for ways to fund a new business, whether it be searching for the best savings rate or the best credit card deal, may be interested in advice from Startup Co.
Chief executive of the support organisation John De Groot explained that many people use their credit cards when establishing themselves, which could interest anyone looking for a low interest package.
Mr De Groot said: "Many people use their credit cards to give themselves mainly working capital and work almost hand-to-mouth until revenue streams improve."
He added that this method was "perfectly acceptable" although warned that it may not help to establish a financial track record, which could be needed when applying for funding such as loans later on in the life of the business.
It was revealed by the Department for Business, Enterprise and Regulatory Reform that there were 4.5 million business enterprises at the start of 2006 in the UK, up 2.9 per cent from the previous year.
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News brought to you by Start Again Finance, specialists in bad credit mortgage advice, loans, credit cards, savings and insurance |
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