InsightsNews - Commercial Law - POSTED: March 2 2017
Kent businesses encouraged to ‘fund for growth’
Seminar hosted by Brachers sets out ways to future-proof your business through the right levels of funding. To expand or not to expand? To stand still and risk stagnating, or to seek growth and risk ‘over-trading’?
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Difficult decisions such as these are always facing business owners and directors and were the subject of a morning of discussion and analysis at a seminar for Kent businesses hosted by Brachers this month.
The audience of business leaders was addressed by James Bullock, Head of Corporate at Brachers, as well as senior representatives from accountants Clark Crowe Whitehill, private equity firm Mobeus Equity Partners, and Natwest Bank’s commercial lending division.
Despite Brexit and the uncertainties that has created, conditions remain buoyant for growth, as reflected in the Bank of England increasing its national growth forecast for 2017, 2018 and 2019.
But with many funding options available, from high street banks to ‘challenger’ banks and from private equity to crowdfunding, it is key that businesses go down the right route for them.
James Bullock, Head of Corporate at Brachers, said:
“Despite Brexit the UK economy continues to grow, exceeding most expectations, which means that businesses are growing and will continue to need cash to fund that growth. But it is essential to get the right funding to support your business. Some sources of funding will be more appropriate for your business and its aspirations than others. It really is essential to get the right advice and assess the market options carefully.”
The corporate team at Brachers can help businesses of all kinds, combining legal expertise with local insight to help realise opportunities and manage risk, saving time and money. Our lawyers understand the different types of funding available, their complexities and risks, and can explain the implications for businesses.
One local company that Brachers recently helped raise funding was Burgess Marine, headquartered in Dover in Kent.
Nick Warren, Managing Director at Burgess Marine speaking at the seminar said:
“Know your aspirations as a business and believe in them. You have to visualise your success and believe in it to attract investors. Be proud of the service or product you are providing and don’t be afraid of pushing yourself to the next level. Seek good professional advice to help with the process – it really can pay off.”
James Bullock concluded:
“The good news for businesses is that there is plenty of money out there seeking a good home. But it’s important to plan ahead – raising finance takes time, so don’t rush into it at the last minute! Get advice and take a planned approach.”
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