Access to Finance Lancashire: Funding and finance briefing

The Future? Who knows! There is still a lot of uncertainty for businesses trying to plan for the future, with perhaps even more challenges ahead. It is no different for the provision of business funding either.

Access to finance Lancashire specialist, Caroline Turley, briefly highlights what she considers business priorities should be over the next few months to make sure you have the funds to grow your business and keep on track with your business plans.

Business funding is as important as ever but funding options in place will soon disappear. Most businesses have been in some way negatively impacted by the COVID-19 pandemic and the schemes made available by the government are coming to an end.

To make sure your business is on track - have you reached out to see what the options are out there to fund your future plans?

Lancashire based business professionals who can help

In Lancashire, we are fortunate to also have the Rosebud Loan fund. Lancashire County Council has launched the £2.25m Rosebud Rebound Fund to allow for a more flexible approach to finance for businesses of all shapes and sizes across Lancashire to help them resume growth plans following the impact of the COVID-19 pandemic.

Banks, accountants, advisors, as well as the team at Boost are here to assist you to sift through the funding and finance options available.

If you prefer to talk to an alternative provider regarding funding and finance schemes, other than your day-to-day bank, there are providers who can help. Boost & Co provides details of additional public and private sector organisations that can help businesses in Lancashire with their growth plans.

Taking action now

What is important is to make sure you are looking at how your business is funded, now and for the coming months and then further onwards into your next financial year. As we head towards the end of 2020, how do you normally trade within this timeframe, what is your cash position versus last year? Are sales picking up and do you have the cash to fund them? Turn to Access to Finance Lancashire and financial specialists for support. We are here to help.

If you are based in Lancashire and are unsure of your finance options, the Access to Finance team can guide you through the challenges presented by COVID-19, offering bespoke one-to-one support to develop business plans and financial forecasts.