Start up Businesses
Start up businesses typically show the following characteristics
- Lack of credible business plan
- Lack of fully rounded management team
- Lack of financial reporting and controls
- Over optimism in terms of levels and timing of sales
- Lack of understanding of funding requirement
- Lack of credit from suppliers
- Difficulty in gaining access to funding
What People Say About Us
Some of our Solutions
- Market and competitor research – routes to market, branding, pricing
- Integrated business plans addressing all factors which can impact on success of venture
- Prudent financial projections identifying funding requirement
- Access to expertise across a wide spectrum of company needs
- Implementation of financial disciplines to monitor and maximise profit and cash
- Experience across a wide array of sectors of operational procedures to achieve excellence
- Recruitment of higher calibre staff as the needs of the business develops
- Knowledge and access to wide variety of potential funding sources
- Credibility with financial institutions
Start Up Risk of Failure
Business start ups have a very high rate of failure with 1 in 4 failing in the first year and over half within 5 years.
Key reasons for failure are:
> Lack of funds
> Management experience
> Calibre of staff
> Management information
> Sales and marketing
However this is all encapsulated in a failure to plan and identify potential pitfalls before they occur.
Funding for Start Ups
Obtaining finance can be difficult enough for established businesses with a track record of trading.
It is important therefore that any proposal clearly identifies the key reasons why the venture will succeed and imbue the confidence that measures are in place to achieve the key milestones.