Finance Insights

How to get your business into shape for 2021 and beyond


There are countless reasons why people start a business. And even if it’s been a while since you started your own, we are sure you’ll remember what gave you that initial spark.

While COVID-19 continues to wreak havoc on many routines in our daily lives, it has been a catalyst for many business owners to revisit their plans. Either to find ways on how to trade safely during the severe limitations imposed by local and national Governments. Or to build on the original spark and to reinvent their business in the face of the changing market conditions.

At Finpoint, we have been fortunate to help businesses achieve their goals in the last years, but never more so than in the last 9 months! That’s why today we want to share how we’ve helped businesses to manage their finances and get into shape for the new year.


A helping hand for business finance, from businesses for businesses

Finpoint was set up to make it easier for small businesses to get access to finance. While it is not a ‘magic money tree’, the service has helped fellow businesses find the finance they require on their own terms.

One example is Phil McDaniel, the owner of Entertainment Sound Specialists, whom we’ve helped to get approved for CBILS. Phil found the Finpoint Platform “easy to deal with” and rated our personal touch “in terms of understanding and support” as “brilliant”. He also said: “The technology helped me a lot; the paperwork and process were very straight forward and quick.”

Another testimonial comes from David Thomson, the owner of Cadherent, who specialise in delivering engineering design and visualisation services across many sectors. David commented: “Finpoint Platform was fast and easy to use. It was an excellent experience, and I highly recommend it as we got funded very quickly, saving me both time and effort. The business finance helped me in each step of the journey, 10/10 points for the platform!”.

Unlike traditional brokers, our service continues to signpost business owners to COVID-19 support from their own bank. One such case is Phil Reynolds, the owner of Philanimates, whom we’ve helped to get approved for a Bounce Back Loan. His feedback is: “I have found Finpoint and its support immensely valuable. I thought the platform is brilliant, such a great idea and the principle is fab”.


Tips to get your business finances into shape

There is no doubt these are turbulent times. Yet, we begin the year with cautious optimism, having provided free advice and guidance to thousands of businesses in 2020. And whether you need extra cash to retain jobs through COVID-19 or have opportunities to grow your business, we can assist with funding to support your plans, whether secured or unsecured, inside or outside of the Government schemes.

Irrespective of your circumstances, we have found that businesses that have the following documentation to hand fare better when they are seeking finance:

1. What?
Latest set of financial results, with an overview of the Covid-impact on your business’ trading patterns and revenue.

2. Why?
Information about your planned expenditure, how much is funded by yourself and what percentage you are looking to raise.

3. How?
Reasonable level of detail to show how you are planning to overcome challenges from the pandemic, or what measures you have already put in place to ensure you can operate safely.


What’s next for business finance

Our technology-driven process sits at the heart of our service. It allows us to provide a 24/7 service while making finding finance fast and efficient.

We understand that in uncertain times, it is important not to rush into taking out a loan. But with sound advice from our impartial finance experts, we hope you feel empowered to get the right finance solution to set your business on a path of recovery and sustainable growth.

Below are some of the most popular business finance options that have worked well for other members:

Property finance, such as a commercial mortgage, can help you to buy your premises. It’s rare for businesses to be able to buy a property outright, as this requires a large upfront investment.

Asset finance helps your business to access the equipment you need, like machinery, computers, office equipment, or vehicles, with an agreed monthly repayment over a period of time, typically one to three years.

Growth Finance is ideal if your business is looking to expand or enter new markets. Whether you’re developing new products, buying new equipment, or embarking on new sales initiatives, a business loan can help you generate more revenue and profit.

Invoice finance is a way of borrowing money against unpaid invoices for a fee. You can receive up to 85% of the value of an invoice immediately, which can help to ease cash flow worries. The funder will collect the money owed from your invoices, and pay you the balance, less any fees.


Ready to explore your business finance options?

Whether you’re looking to grow your business, make investments or support your cash flow, we are here to help.

As a business, you can use the service for free and save time with one simple online application, and let our experts handle the rest.

Apply now

Explore more articles

Helping you to navigate the business funding maze.