But will all go downhill from here? Trade deals are integral in sustaining industries from raw material manufacturers to suppliers, but how will Brexit dictate the economic balance of the UK-EU partnership?

Currency at stake?

The pound was overvalued before the Brexit vote, which is why so many speculators and those in the know made a fortune betting against the pound.

Typically, the value of a currency is in part affected by the consensus of its economic current and future standing. Some experts had, before the leave vote, analysed the post-Brexit landscape and subsequently made the prediction that it will preempt a ‘slowing down’ of the economy.

However, these are probably the same ‘experts’ who predicted half a million job losses, an emergency budget and an extra £3,500 a year cost to every household in the UK should we vote to leave the EU.

Customs and trade?

Once the UK leaves the EU, it has to leave the customs union and take back control of the national economy once and for all. In practice, this could mean little difference to how things operate now. German carmakers, French wine producers and service companies which own significant stakes in our infrastructure will not stop trading with us overnight. It is not in their interests to block trade, neither is it our interest to reciprocate.

Countries such as Canada, the United States – in fact, any country which is not in or going to apply for membership of the EU trades freely with the EU. Why should the case be any different for the UK post-Brexit leave date?

What does the future hold in store?

Although Brexit will mean the UK is formally leaving the EU, under article 50 of the Lisbon treaty, the UK is still allowed to renegotiate a new trade relationship with the EU within a minimum of two years.

It is in the interests of the governments of the countries of the EU that a new trade deal is developed. However, the current mindset of some business owners, trade associations and, sadly, many of our elected representatives and unelected peers is one of defeatism and failure.

To sum it up, the future of trade between the UK and the rest of Europe will carry on with little effect. If there is any slight downside, that will be more than compensated by our new freedom to trade freely with other nations without the shackles of a protectionist treaty holding us back.

Business opportunities will be thriving in specific areas after Brexit has happened. We will undoubtedly be pleased to speak with you regarding any commercial finance enquiry. So contact us today with your requirement.

The post How Will Brexit Affect UK Trade Deals? appeared first on Genie Lending: Business Loan Alternative Finance Specialists.

Do some research – then do some more

Study the broker behind the business sale. The name of the broker behind the investment doesn’t have to be a big name BUT, a big brand broker backing a startup business certainly adds kudos and offers credibility to their client’s potential financial future.

Read and re-read the prospectus

Take a look over the company prospectus in detail. It will offer deep insight to:

• Who is running the company
• The company’s target market

There will often be substantial detail in the document. It will help you gain a much clearer picture of the risk versus the reward and help you decide between the following.

Caution wins the day

Anyone who wants to make money will always have to take some risk. Weigh up the pros and cons. Don’t be taken in by the promise of quick returns. If it sounds too good to be true, then it almost always is.

Set realistic targets

Be careful not to over-estimate your potential returns. It can be human nature to be overly-optimistic with such investments.

In the same way, returns on your investment, especially if the investment is with a new company, may come slowly. You should be aware that the failure rate with new companies is high, so factor this into your calculations.

Exit strategy

Think about at what stages you would be happy to sell or exit the business investment. It’s prudent to map out various scenarios in advance.

Finally

Your best resource in any investment is a financial adviser. He or she will be able to advise on the risk and reward.

Investing can be challenging, exciting and stressful but at the same time has the potential to be highly rewarding. As long as you prepare and research, risk can be substantially reduced, and the reward can be life changing for the better.

Our experienced team have the skills to obtain your funding requirements. Simply complete our Enquiry Form to see how Genie Lending can help you

The post How to Invest in Companies appeared first on Genie Lending: Business Loan Alternative Finance Specialists.

Of course, launching a new business of your own can seem like a daunting prospect, especially for those with little or no experience in the sector in which they want to make their mark. Here’s a quick rundown of some basic steps you should take in order to make your entrepreneurial endeavours a success in 2018.

Draw up a business plan

First things first –do your homework. Put pen to paper and create a comprehensive outline of what your business will offer its customers, which demographic that target market comprises and who will be behind the wheel.

You’ll also need to analyse the current competition in the marketplace and identify unique selling points (USPs) which set your enterprise apart. Furthermore, you should make an estimation of how much capital you’ll need to get things off the ground and your overheads for the first few years. Those with limited experience in their chosen market may want to seek support from a savvy mentor here, since getting your sums right is all-important for the next step.

Get funding

Unless you have a sizable amount of capital to play with from the get-go, you’re almost definitely going to need some financial backing to get your project started. Your detailed business plan will prove invaluable here; convincing a bank or building society to invest in your potential is so much easier if you can prove you know what you’re doing and you’re equipped to succeed.

On the other hand, even the best prepared business plan might be given the red light by banks in the current economic climate. If that happens to you, don’t despair: non-banking loans are more popular than ever before and there are a range of alternative finance options to consider. The rise and rise of peer to peer funding and crowdfunding open up investment to a small group rather than a centralised bank, for example.

Craft an attractive online presence

Whether you plan to open a five-star restaurant or a web design company, you’re going to need an online presence to attract attention and establish credibility. In this modern age, if people can’t Google your business and access a webpage dedicated to its products and services, they’re not going to spend a single second before moving on to the most convenient competitor.

Devote time and resources to creating a user-friendly and aesthetically-pleasing website which will dazzle all comers and turn prospects into customers. This may take significant time, energy and money initially, but it’ll be worth its weight in gold once you’re up and running. The smallest enterprise in the industry can be successful operating out of a bedroom or garage – but not if it doesn’t have a corner of cyberspace to call its own.

Push the button!

Once you’ve laid the groundwork and your project is ready to launch, go for it! Just be mindful to avoid resting on your laurels and taking your foot off the accelerator – you’ll need to be constantly monitoring your performing and looking for new ways to grow your business if it is to truly flourish. Put in the hard yards, however, and the rewards will come rolling in.

The post How to Start a Business in 2018 appeared first on Genie Lending: Business Loan Alternative Finance Specialists.

Nevertheless, success could be at your fingertips if you stop talking about doing it and start taking action. Start-ups are on the increase in the UK, so relish this opportunity and make your business happen in 2017. Here are some top entrepreneurial tips to get you started.

Research, research, research

Before registering your company and writing your business plan, it’s critical to undertake some market and competitor research. After all, you have to be offering something different, or do something better than others, to achieve success. Understand your target audience, and note what works for other companies and what you would do differently to improve the customer experience.

Business funding

Most people don’t have personal savings to set up a business – but that doesn’t mean they’ve failed at the first hurdle. Getting a business loan from a bank can be extremely difficult as they prefer not to lend to new companies without a good credit history and proof of turnover. However there are many alternative finance options to look into, including peer to peer funding to get you set up with any equipment and starting essentials you’ll need.

Start Marketing ASAP

With so much competition, especially in the digital landscape, you need to start marketing your business before it’s even launched. There is no harm in setting up a website and social media pages to build excitement around your new products or services, asking people to sign up ahead of the launch. This will help in the long run with SEO efforts and a digital marketing strategy to stay ahead of competitors. Once you start the cashflow, you’ll be able to increase your marketing budget.

Are you ready to take those first steps to being your own boss? Good luck for starting your own business in 2017.

The post Top Tips for Starting a Business in 2017 appeared first on Genie Lending: Business Loan Alternative Finance Specialists.

If you are starting out as an SME?

Small and medium sized businesses are faced with a broad range of challenges as they expand. Many start-ups and SMEs fail to reach their potential because they either aren’t prepared for growth or don’t have the capital needed for essential business growth. Business leaders need a growth strategy in place from the start to ensure nothing can unexpectedly hold them back.

If you run an SME then take note of these five ways you can head in the right direction – upwards.

1. Strong business plan

Hopefully you didn’t launch a business without a clear and concise business plan – or you probably won’t get very far. The fact is that almost all business need a capital injection to grow at all, which means you’ll have to pitch your business plan to investors. To secure the funds you’ll need a strong business plan which demonstrates how much money you’ll need and how the investment will affect the business. Access to finance is difficult for small businesses, but alternative options such as peer to peer lending can be promising.

2. Focus on sales

   

The quickest way to grow a business is to bring in more sales. More sales means more revenue to play with. Place an emphasis on customer service and explore low cost marketing techniques which could influence sales. If you go the extra mile for each client, they will become a return customer and tell their family and friends about your company – word of mouth positive marketing is free!

3. Core team

Just because you started the business doesn’t mean you should continue to do all of the work single-handed. The biggest mistake most business owners make is trying to juggle too many jobs and then not doing any of them well. If you plan on expanding, you’ll need a core team to help run the business and the sooner you find these suitable employees, the better. Establish a core team who can help you grow the business and preferably have valuable experience to bring to the company.

4. Outsource

In order to grow, you need to spend a substantial amount of time on tasks which promote business growth. If you feel like there’s never enough time in the day, and the majority of your time is taken up by activities which aren’t driving business growth, then it’s time to start outsourcing. It’s a cost effective way of managing the business without having the expense of hiring in-house staff. From accounting and IT to HR and marketing, you need to free up your time to spend it wisely.

5. Improve

As a business owner you have to strive for improvement every single day. Take a step back from business operations regularly to see what you could be doing better. Improvements alone can lead to business growth, but remember that if demand increases in line with the company expansion, then your service will also have to develop.

What do to as an established business?

1. Find a new market

In this ever changing world we live in, you can’t simply rely on the one market or one customer persona to buy your products. As new technology and markets emerge, unfortunately others die as a consequence. Always take the time to do research in your sector to find out what products or services could be on the horizon. Will they put your business at risk? Or can you fight the competition? One way to secure the company is to find a way to appeal to more people. Can you develop a new product to widen your remit? Change your marketing tack to appeal to different types of audiences?

2. Customer feedback

Your customers can tell you where you can add value to your business, for virtually no cost to you. It’s relatively easy to set up a customer questionnaire, and the data you receive can be vital for driving growth. Customers can help you discover what is and isn’t working, so you can see the areas which need improvement. You could also ask them what else would they like you to offer, to make their lives easier – this feeds into the first tip, so you can open up to a new market.

3. Employee retention

It’s very difficult to grow as a company without the people who make it work. Business growth almost always requires extra staff, and it’s hard to expand a team when an employee leaves to work elsewhere. If you don’t focus on an employee retention strategy, for every person you hire another could resign. Listen to HR or hire an expert if you don’t have your own department.

4. Don’t fall short

Growth and expansion within a company often requires capital. Make sure you don’t find yourself half way through an exciting expansion project with no money to finish it. At some point, businesses need finance – even successful businesses with money rolling in. To keep up with demand, you need to invest in your business and sometimes you’ll need help. Look at our short term alternative finance options.

5. Marketing and advertising

If your business is growing, then so too should your marketing strategy. Medium sized enterprises have medium sized budgets, and large companies have large budgets for advertising. For example, take this year’s Christmas advert wars between the big retailers, such as John Lewis and Marks & Spencer. You need to keep up with those you’re competing with. Evaluate your current digital strategy too, including SEO, social media and content marketing, or you’ll soon be forgotten on the internet.

The post 10 Top Tips for Business Growth appeared first on Genie Lending: Business Loan Alternative Finance Specialists.

Plan for the busiest days

While the whole of November and December will be busier than usual, there are some shopping days which need further preparation. The biggest days for retail are Black Friday, Super Saturday, Boxing Day and the first days of the January sales. In the hospitality sector, you’ll need to be prepared for corporate Christmas parties every day of the week, but Christmas Eve and New Year’s Eve are usually the busiest nights.

Do what you need to do for these days – buy extra stock, invest in more machinery and hire more staff to reduce queues.

Arrange your finances

While you may be raking it in at this time of year, you might not have the funds in advance to ensure your shelves are full of stock or your coffee machine can handle the extra custom. The answer? An alternative finance solution. If you need to buy new equipment or can’t afford the extra temporary staff members you desperately need, find some funds now.

Be cosy and inviting

Consumers may not plan on buying anything – but invite them in from the cold and they probably won’t leave empty handed. Create a warm and cosy atmosphere in your premises, with tasteful decorations and lights. This also applies to online businesses – give your website a festive makeover!

Stay on top of the competition

Consumers have a lot of choice for their holiday shopping and dining. While you’ll want to be totally focused on your own store or hospitality venture, you should also take time out to discover what your competitors are offering. Try and do something different to entice people, whether it’s a special promotion, a freebie or a better shopping experience.

Are you ready for the Christmas season? Without being prepared, you risk losing a lot of possible profit.

The post How to Prepare Your Business for the Busy Christmas Season appeared first on Genie Lending: Business Loan Alternative Finance Specialists.