Jessica Bown

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Articles

Working capital loans explained: a practical guide for SMEs

2 months ago | money.co.uk | Jessica Bown

A working capital loan can provide a vital cash injection when you're struggling with short-term operational expenses. This might include payroll or rent for your business premises. Here's what you need to know. Key takeawaysA working capital loan is a short- to medium-term financing option that helps businesses cover day-to-day operational expenses, like payroll or bills.
How much should I save for taxes? A practical guide | money.co.uk

Dec 10, 2024 | money.co.uk | Jessica Bown

Key takeawaysHow much of your income you must save to pay tax depends on your tax band Limited companies pay corporation tax, while sole traders pay income tax and NISelf-employed basic rate taxpayers should save 20-25% of their income; higher rate taxpayers should save around 35%; and top rate taxpayers should save 45%How much should I put aside for taxes? Whether you’re a freelance sole trader or a director of a limited company, paying tax and National Insurance (NI) is your responsibility.
The next 6 steps: an essential checklist for new limited companies

Nov 25, 2024 | money.co.uk | Jessica Bown

You researched how to register your company, submitted the paperwork, and now your new company is up and running. But what’s next? Read on to discover the six essential steps you need to take after registering your limited company.
Sources of funding for your business: top options explained

Nov 12, 2024 | money.co.uk | Jessica Bown

Whether you’re launching a new company or looking to grow an existing one, you’re likely to need a cash injection at some point to help cover the cost of your plans. This guide explains the different business funding options available and where to find them, so you can make the right choice for your company. These unsecured and secured loans could help you grow your business, cover running costs or even fund a new company. What are the different sources of business funding?
Startup costs: how much money will you need for your business?

Nov 12, 2024 | money.co.uk | Jessica Bown

Key takeawaysBusiness startup costs are all the one-off fees and expenses associated with launching a new company Typical small business startup expenses include market research, licensing fees, business insurance and rentYou need to know how much starting a business is going to cost to get a business loan or other form of business fundingThese unsecured and secured loans could help you grow your business, cover running costs or even fund a new company. What are startup costs?
Angel investors: how to secure funding for your startup

Nov 12, 2024 | money.co.uk | Jessica Bown

Key takeaways Angel investors provide initial seed funding or growth capital to startup businesses, usually in return for a minority stake in the company They often take a punt on startups that would struggle to get a business loan under normal circumstances Angel investors are the largest providers of funding in startups and young, growing businesses in the UK While some angel investors are happy to be silent partners, others want a hands-on role in running the business These unsecured and...
Am I eligible for a business loan? Key criteria and how to qualify

Oct 28, 2024 | money.co.uk | Jessica Bown

Business loan eligibility depends on a range of factors, including your personal credit history, the financial performance of the business, and the amount of debt the business already has. Read on to find out whether you and your business can get a business loan and what you can do to improve your chances of qualifying for one. These unsecured and secured loans could help you grow your business, cover running costs or even fund a new company.
How to get a loan to buy a business: a step-by-step guide

Oct 28, 2024 | money.co.uk | Jessica Bown

How to secure a loan for your purchaseGetting a business loan to purchase an existing company is one way to work for yourself without facing all the challenges and risks associated with starting your own company. It can also be easier than finding funding for a startup because the company already has financial records that you can show banks and other loan providers to support your application.
What is a cash flow forecast and how can you create one?

Oct 14, 2024 | money.co.uk | Jessica Bown

Creating a cash flow forecast is one of the best ways to safeguard your business from financial difficulties. It helps you understand how much room you have to invest and expand. In this guide, we explain what a cash flow forecast is and how to create one for your company. These unsecured and secured loans could help you grow your business, cover running costs or even fund a new company. What is a cash flow forecast?
How to define the target market in your business plan

Oct 14, 2024 | money.co.uk | Jessica Bown

What is a target market? A target market is a group of customers you identify as the most likely buyers of your company's products or services. This group is generally united by shared characteristics such as age, location or interests. Identifying the target market is important for everything from how you make a product to what packaging you use – as well as how you market it.