A lot of recent research is suggesting that SME’s will be crucial in Britain’s recovery from the Covid-19 pandemic, however, will the small businesses be given the funding they need to help heave the country out of the economic black hole?
SME
According to the FSB Small Business Index (Q3 of 2017), there was a sharp decline in successful credit applications, with only 63% securing external finance. However, the report found that only 12% of businesses surveyed applied at all, suggesting a significant proportion of SMEs are staying away from external finance altogether. A lack of cash flow within the small business community results in less investment in growth, fewer job opportunities and fewer businesses making the transition from small to medium-sized. So why are small businesses so wary of using external funds to support their development?
Leicestershire-based patisserie producer, all about desserts, has a simple mission statement: to provide the best product at the right price, on time. Run by husband-and-wife, Craig and Clare Barton, the business specialises in patisserie; desserts, tarts, bakes, cakes and afternoon tea pastries. Earlier this year, the operation moved into a premises with the intention of increasing manufacturing capability. The facility has been kitted out with a cold room, allowing Craig to branch out further into chilled and frozen desserts to attract new clients and opportunities.
Venturing down the finance route can initially seem a little daunting, typically associated with credit checks, tedious paperwork and onerous conditions. Whilst this may have been your experience with banks and finance houses in the past, this certainly doesn’t need to be the case. At Johnson Reed, we understand the time constraints and daily pressures of running a business, and facilitate your finance requirements in a quick, simple and fuss-free manner.
In just under 2 months takeaway owners from across the country will descend into London for the biggest takeaway expo in the country. Over 5,000 takeaway owners are expected to attend, and with many business owners and entrepreneurs exhibiting, all trying to pitch for their much sought-after business.
Topics of discussion over the exhibition will include health & safety, restaurant furniture, catering equipment, the growing use of technology, social media, food marketing, franchising, and more.
Here at Johnson Reed we have an ideal that we live by: Common Sense Underwriting.
What does that mean? It means that we deal with all of our requests for finance with a common-sense approach when it comes to whether or not we provide finance to a would-be customer.
As part of this approach, we appreciate that often we get requests for finance for equipment and assets which are beyond the traditional scope of lending. Sure, we get a lot of gym equipment, catering equipment, kitchen refurbishments, that kind of thing, but we also get a lot of unusual things.
GGI Office Furniture are one of the most respected and well-known brands of office furniture in the UK. There’s a chance you’re sitting on one of their chairs right now!
Ever keen to continue providing the best service to their customers, GGI contacted Johnson Reed about helping to secure the finance for a new software accounting package and new IT hardware (including brand new desktops and servers). We were able to secure £60,000 worth of equipment finance for GGI to overhaul their ageing IT systems, based on a fixed repayment deal.
We were able to finance the total solution for our client, which was agreed within 38 hours of receiving the company information. We utilised our Tier 1 funder to secure marketing-leading range of IT hardware and software, an option which will benefit GGI greatly as it means that the finance will be tax-deductible and at a fixed rate throughout the term.
Their website snappily proclaims ‘One Click. One Solution.’ We’re quite jealous really, because that’s a strapline we could well use at Johnson Reed. Only we might tweak it to read ‘One Click. One Source of Funding. The Best Solution’. Weclick Media is a Poole-based design and marketing agency that provides web design, online marketing, digital … Read more
We’re delighted to have been asked by Miller Metcalfe – one of the North West’s leading property consultants – to help finance new office furniture and IT leasing for an office relocation. The new head office, based in River Street in Bolton will benefit from new office desks, seating, desktops, laptops and servers. This £60,000 … Read more
One of the main requirements for an office-based business is a solid IT infrastructure, and whether you’re a haulage consultant or dental practitioner, you need to have an IT system which works for you. We were recently approached by Yorkshire-based franchise office of TaxAssist Accountants, who were looking to replace their aging IT hardware and … Read more