Ask the expert: where to go for funding
OPINION. Q: I need to raise funds to upgrade the IT infrastructure for my small business. What’s available and how do I access it?
A: That depends on a range of factors such as your current finance structure (are you in debt, highly leveraged, debt-free?), what stage your business is at and how much you need.
But, before you explore external capital raising options, ensure you’ve covered off any internal sources such as savings you can access or surplus assets in the business that could be liquidated to raise funds.
Once you’ve done that, you then need to calculate how much more funding you’ll need by preparing cash ﬂow forecasts.