Yorkshire and North East Dealmakers Guide 2016 - 15
Q&A
15
What do ambitious companies
need to think about in order
to grow?
When planning business growth it is important to make sure you have enough
money available. While some businesses are lucky enough to have ready cash,
most raise external finance. Couple this with a strong funding partner where
goals are aligned and you can actually help to accelerate growth. For any
company aiming to grow, no matter their size or how long they've been trading,
there are a number of things to consider.
fund manager
FW Capital
Email: joanne.whitfield
@fwcapital.co.uk
Tel: 0191 269 6967
Timing
Build in time to raise the finance you need. Finding a funding partner whose
interests match yours is critical and getting it right first time can save hassle in
the long run. Engage advisers early on. They can often streamline processes and
provide independent challenges before you pitch directly to funders.
Flexibility
Demonstrate that you can be flexible and can learn from mistakes quickly. Having
a 'plan b' is wise as is being able to seize unexpected opportunities as they can
be a game changer. It's important to raise sufficient cash to cover contingency
plans. In the due diligence process most funders will examine forecasts. If you
don't have any contingency this will present a weaker investment case.
Team
The right management team is essential. Recognise your strengths and
weaknesses and be prepared to take on new personnel with skills to fill gaps.
Measure your success
Choose key performance indicators to measure your progress. Make them
specific to your business, and easily accessible. They will help you keep things
on track and provide an early warning signal to take remedial action if necessary.
Making it happen
Finding the right funding partner is key. A good finance provider will bring more
than just money to the table; they will add value to your business. Foster a good
relationship and it will usually result in a better outcome for all.
Q&A
Joanne Whitfield
Research and planning
A well-researched proposal will build credibility, inspire confidence and help gain
potential funders' buy-in.
Table of Contents for the Digital Edition of Yorkshire and North East Dealmakers Guide 2016