Logbook loans can be used for business

Businesses traditionally find raising finance quite a difficult proposition in the main, this is because financial institutions such as banks have very strict lending criteria.  If you are a start-up company with very little security to offer the bank it’s going to be tricky to get a loan.Loan handshake

There are no easy ways of approaching a bank and it is not a quick fix, in many cases you will be paying higher interest rates than other types of finance such as a personal loan.

So what else can you do?  You can seek help from angel investors who will put up the money for the loan and in most cases take a stake in your business.  If you have ever seen the programme Dragon’s Den on the BBC then you will get the idea.  You won’t necessarily have to pitch in front of a panel, although this can be common, but if you do secure an investor you not only bring cash to your company but in many cases expertise from the investor or investors themselves.

Personal finance

Another way of raising capital is using your own money and taking out a personal loan.  You could use a credit card or another type of loan like a logbook loan if you have bad credit and can’t get a traditional loan.  There are risks with doing this because when you take out a personal loan and default on it your personal credit record is affected and your own personal finances could be at risk such as your property.  When you take out a business loan you are separating your personal finances from your business.

Many start-up companies have been founded on personal finance via credit and have been successful, it allows people who otherwise don’t have the funds available to invest into their business the opportunity to get their company off the ground or grow it further.

Of course it is a risk but many entrepreneurs are risk takers and view it as part of the process of being successful.  Maybe that is the fact why people who do take these risks are successful, because others aren’t willing to take on the same risks themselves.

Can you start your business without finance?

Before even exploring the possibility of business finance have you looked at the option of just building up the business from nothing?  Now this is definitely not always possible, but it can be achieved in certain circumstances and it does depend on the type of business you are starting.

The first thing some people do is to look for finance before starting their venture.  Why not start your venture and see if you can grow it before trying to raise any cash.  This is obviously the ideal way to start a business because there is no interest to pay on loans, there are no loans to pay back and you don’t have investors who ultimately act as your boss, so you might as well be employed.

You need to think about whether finance is right for you in your business and if it is, what type of finance is right.  There are so many options to choose from and they all have different implications.  If you take out a logbook loan you are risking your vehicle, if you go for a business loan it can be a difficult process to obtain.  If you choose a credit card you could be putting your personal finances at risk.

These are all valid considerations so think carefully before taking up any loan for your business.  Do your research and speak to other stakeholders in the business so you make the best decision.

Logbook Loans – A Less Well Known Type of Finance

A certain type of loan keeps cropping up at the moment, it’s the kind of finance that you take out against your car.  The car ownership in the UK is large, which means that large numbers of people have access to car loans at competitive interest rates.

The reason that logbook loans can be more cost effective than other unsecured loans is because you are providing security for the money that you are borrowing.  Your car is your security and if you don’t have a good credit history it doesn’t matter because it is the car that the money is borrowed against not you.Car Finance Calculator

Being self employed doesn’t matter

If you run your own business it is quite difficult to get another type of loan.  For example, the days of self cert mortgages are long gone, other loans need security against your house which can be difficult if you can’t get a mortgage and don’t own a house.  So car finance loans are a good option if you work for yourself.

I find it quite interesting that these loans are not that well known.  You don’t hear about them too much in the mainstream media, yet there are companies that offer very competitive rates for a loan that can be arranged quickly without many issues.

Money is also transferred into your account pretty quickly in most cases.

What are the downsides?

Obviously if loan payments aren’t kept up then your car is at risk.  This is an ideal solution for people who know they will be able to keep paying the loan instalments.  If your car is essential and you don’t think that you can keep up the payments then it might not be the right finance solution for you.

As with any type of loan it is best to choose a responsible lender.  Shop around to find the right one for you and your situation, rather than the first one you come across.  If you do some research you will also get the best rates which is also vital as there is no need to spend more money on interest than you need to.

 

 

London’s Cranes And Lift Consultants Drive The Economy

It’s often said that to judge the state of the economy in London you need to count the number of cranes as you look at the sky line.  The more cranes you see, the better the economy is because more building work is being done.

When you think about the state of the economy you realise that companies such as lift consultants or architects all benefit from this kind of boom directly.

When the economy picks up, many companies benefit from a kind of snowball effect.  When people see a new building going up they think about the builders or the new companies taking up the office space but they often don’t think about the trickle down effect this has on other companies such as lift consultants.Skyscraper with lift

Some of the most impressive new buildings in the UK have needed the very latest lift design.  From planning out how the lift should look to actually inventing a whole new lift system, every new building has its challenges.

Skyscrapers

Obviously all skyscrapers need lifts of some kind or another. Buildings nowadays are designed in all manner of shapes which means lifts have to be different in each case.

Take for example some of the most spectacular buildings in Dubai.  A city of skyscrapers, lift consultants and architects have been able to let their imaginations run wild when it comes to designing and implementing elevator systems.

Safety

Of course, safety is a huge factor when it comes to lift design and maintenance and so this creates more jobs for firms and trickles money further into the economy.

The great thing about many of these businesses is that they aren’t a one off buy.  When a lift is installed it requires maintenance.  This involves making sure it works properly and adheres to all safety measures.

So next time you are looking at the London skyline or any large city for that matter count the number of cranes.

Why an Exhibition Stand Provider Can Gauge the State of the Economy

It’s the busiest time of year for exhibitions in nearly every industry. After the summer break, customers are often in the buying mode, refreshed after a summer break and looking to spend money.

Summer generally isn’t a quiet time for exhibition stand providers, getting ready for exhibitions in the autumn months takes a lot of time. Exhibitions take a lot of preparation and any company that is paying a display stand provider to produce marketing material for them needs deadlines to be met and the best possible service.

A good gauge for economic performance

Exhibitions are a good way of measuring how well the economy is performing. The busier exhibitions are, the more money people have in their pockets. The same goes for exhibitors. The more space that it taken up at exhibitions, the bigger the stands and the more exhibitors there are, the greater the confidence companies have in the strength of the economy.exhibition trade show

If a company doesn’t have much of a marketing budget because the economy isn’t in a good state then they are less likely to spend money at a trade show. Of course this has a further knock on effect on the economy as a whole as the company providing the show loses money, their suppliers lose money and things start to decline.

Useful from within the industry

But shows aren’t always just about selling to new customers. They can be a way for people within certain industries to expand their knowledge through speeches from industry experts. They are often a way for people to network within an industry and get a feel for what is going on at that point in time.

In very competitive markets exhibitors often feel like they have to turn up at a show just to make the point that they are still in business and going strong. They might not make any sales but they feel like they need to have a presence in the industry.

If a trade show is mainly for driving new leads for a company then it is important for them to track their performance and return on investment. How much money was spent on the show? How many leads were generated? Were these leads converted into sales. This might be very important to a smaller company.
Larger brands may just feel that they need to have a presence and are less concerned by direct response marketing. They just need to be seen.