Business Startup Finance

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    Business Startup Finance

    Hi all

    I have been a landlord for only a year and have managed in that time to buy quite a few houses, on the back bone of that I have started my own letting/management agents. The proble I now face is that it is getting too busy to run from home and I need premises. I have looked at all the convential routes for government financing for startup businesses but they require I put in the same ammount i want to borrow. basically what I am asking is does anybody know anywhere I can get a business startup grant/loan to help me "take off"

    Any comments/leads would be greatfully appreciated

    Dave

    #2
    What the...

    You have the capital to buy several BTLs within a year, but want the government (i.e. the taxpayers of Britain) to cough up for your offices?

    Why not just get a bank loan?
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      #3
      Originally posted by lorenzo View Post
      What the...

      You have the capital to buy several BTLs within a year, but want the government (i.e. the taxpayers of Britain) to cough up for your offices?

      Why not just get a bank loan?
      Not very helpful, Lorenzo.
      Davida1977: try local authority, Chamber of Trade, and Chamber of Commerce. Several taxpayer-funded schemes exist for new business start-up assistance. Although Lorenzo might have doubts about whether this is a good or appropriate use of taxpayers' money, you should certainly use it if it's on offer!
      JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
      1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
      2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
      3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
      4. *- Contact info: click on my name (blue-highlight link).

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        #4
        Originally posted by jeffrey View Post
        Not very helpful, Lorenzo.
        There's obviously a lot of things I have to get used to about a welfare state... like middle class welfare while those who truly need help, struggle.

        It just goes against the grain.
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          #5
          Originally posted by lorenzo View Post
          There's obviously a lot of things I have to get used to about a welfare state... like middle class welfare while those who truly need help, struggle.

          It just goes against the grain.
          Er, what about the social utility of enabling new businesses (founded by those of any class, if "class" still exists at all) to:
          a. grow into employers of the otherwise unemployed; and
          b. become income generators and therefore additional sources of tax revenue?
          JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
          1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
          2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
          3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
          4. *- Contact info: click on my name (blue-highlight link).

          Comment


            #6
            lorenzo

            not that i have to explain myself to you but i managed to buy my houses by releasing equity out of each one to buy the next, and do not want to max this as my mortgage payments will go up - i too am a tax payer and if there is money out there available to start up businesses then I am going to go for it... like any normal person would. just because i have managed to buy a few houses is a short time does not mean i have money sat in the bank, otherwise I would not be asking for start up loan,

            and loan being the operative word, "loan" meaning i have to pay it back, so appreciate you replying but i am not here to receive negative comments from somebody i dont even know that obviosuly has to my many opinions.

            how dare you judge me!

            Comment


              #7
              Originally posted by jeffrey View Post
              Er, what about the social utility of enabling new businesses (founded by those of any class, if "class" still exists at all) to:
              a. grow into employers of the otherwise unemployed; and
              b. become income generators and therefore additional sources of tax revenue?
              I fully support that for folks of limited assetts, unemployed, community benefit, new industries etc.

              Give a man a rod so he can catch his own fish. However, I object to giving fish to someone who already has a rod as David appears to.

              Extra tax revenue is a furphy in an established and crowded industry such as lettings as the business will largely be obtained at the expense of someone else... who probably didn't get a grant.
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                #8
                Originally posted by Davida1977 View Post
                lorenzo

                not that i have to explain myself to you but i managed to buy my houses by releasing equity out of each one to buy the next, and do not want to max this as my mortgage payments will go up - i too am a tax payer and if there is money out there available to start up businesses then I am going to go for it... like any normal person would. just because i have managed to buy a few houses is a short time does not mean i have money sat in the bank, otherwise I would not be asking for start up loan,

                and loan being the operative word, "loan" meaning i have to pay it back, so appreciate you replying but i am not here to receive negative comments from somebody i dont even know that obviosuly has to my many opinions.

                how dare you judge me!
                Davida1977,

                I dare to judge you, you go for it, try and make a success and sod everyone that try's to pull you down.
                It would be interesting if you come up with some business start up plan/finance. Perhaps you could post back here when you are up and running to let us know.

                good luck.

                Comment


                  #9
                  Colin

                  thank you for your comment, and I will most certainly put a post back on here once I am up and running

                  Dave

                  Comment


                    #10
                    Originally posted by Davida1977 View Post
                    how dare you judge me!
                    Just being honest about what I think. I'm not two faced, but unfortunately this is not appreciated by all. People are often offended by the truth.

                    No need to let it spoil your day.

                    Colin,

                    Nobody is trying to pull David down. Where did anyone discourage the actual enterprise? Not from me! I just question the integrity of using taxpayers money for private ventures unless under the circumstances mentioned above.

                    If you disagree with my thoughts, that fine, but I'm entitled to them. It's just a bit disingenuous to interpret it as tall poppy lopping.

                    I repeat my question: What's wrong with getting a loan from a bank?
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                      #11
                      Originally posted by lorenzo View Post
                      I repeat my question: What's wrong with getting a loan from a bank?
                      Nothing at all, except banks charge a commerical rate of interest and give little advice, unless it is to there own benefit.
                      Business start up schemes, offer loads of advice/support and cheap money.
                      As with any business, it is wise to look at all options.

                      Comment


                        #12
                        Originally posted by Davida1977 View Post
                        Hi all

                        I have been a landlord for only a year and have managed in that time to buy quite a few houses, on the back bone of that I have started my own letting/management agents. The proble I now face is that it is getting too busy to run from home and I need premises. I have looked at all the convential routes for government financing for startup businesses but they require I put in the same ammount i want to borrow. basically what I am asking is does anybody know anywhere I can get a business startup grant/loan to help me "take off"

                        Any comments/leads would be greatfully appreciated

                        Dave

                        Hi there,

                        Just type in "businesses startup grant" in google and you will be in business dave!! Good Luck

                        Comment


                          #13
                          Originally posted by Colincbayley View Post
                          Nothing at all, except banks charge a commerical rate of interest and give little advice, unless it is to there own benefit.
                          Business start up schemes, offer loads of advice/support and cheap money.
                          As with any business, it is wise to look at all options.
                          Fair enough Colin.

                          All points taken on board from all.

                          Cheers
                          Now signature free.

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                            #14
                            Grants!

                            Note: Most grant funds available from the state are only for Start Up's, your posting implies that you have been trading from home for some time and therefore would not be eligible for grant aid.

                            The second stage in the application process is need. You are only likely to get financial suport if the business would not progress without that support...again it seems that you would not meet this criteria. as you have a portfolio that carries financial assets with it.

                            Finally, most of the financial support schemes that do exist will only support manufacturing, innovation or research & development, very few will help in the service/housing rental/property management sector.

                            The last resort would be the web:

                            http://www.j4b.co.uk/
                            Comprehensive information on government grants for both business and voluntary groups which is updated DAILY.

                            or

                            Business Link

                            http://www.businesslink.gov.uk/bdotg...3858790&r.s=tl


                            Bill McCallum is a former Small Business Advisor with Cleveland Youth Business Centre and volunteer advisor for young people on the Princes Trust Bursury Scheme. Now a Management & Enterprise Consultant, Project Manager and Business Development Facilitator.

                            McCallum BDF Limited

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