Raising the Finance to Start Your Cattery Business…
Starting a cattery can be a relatively expensive venture and raising money, for some, can seem like a daunting prospect. Luckily there is more help out there than you might think.
There are a number of options available for raising the finance to start your cattery business. Below are some options worth exploring:
Business Loans
There are many online resources for information on Business Loans. A simple Google search will yield some great results of sites to visit. If you need to discuss a loan in more detail you should arrange a visit to your bank or building society and speak to a business advisor.
Non-Traditional Lending Services
In addition to banks there are an increasing number of alternative lenders around and in March 2013 the government announced a £70 million boost to the finance available for lending to small to medium size businesses. Here is a list of just some of the alternative lenders around:
Examples:
1) Market Invoice
2) URICA
3) Beechbrook Capital
4) Funding Circle
5) Zopa
6) BOOST&Co.
7) Credit Asset Management
Rural Grants and Funding
The government are keen to provide funding for rural development and as such many people in rural areas are eligible for funding. For more information on the funding available you should visit: www.gov.uk. Not everyone is eligible for funding but it is certainly worth investigating. It may be the difference between starting your cattery or not.
Leasing
You may be eligible to Lease your cattery. Leasing provides a tax efficient way of purchasing your cattery. There is no capital outlay (apart from a 25% deposit) and you pay fixed costs over the term of the contract. For more information on leasing your cattery you should contact Tim Gammon at Lease UK on (01372) 466955. We have worked with Lease UK for over 20 years.
Be Careful with Your Money…
The cattery building will be the single largest capital outlay when starting your cattery business.
Once you have raised enough money to finance starting your cattery, careful consideration should be given to which company(s) you choose to undertake the build of the cattery. With this in mind, we actively encourage anyone thinking of starting a cattery to undertake a credit check on the company(s) you choose to build your cattery.
You will be paying a large amount of money (in some cases it may be your life savings) to the people that you choose to construct your cattery, so you will want to know that whoever you hand your money over to, is safe, trustworthy and reputable. Don’t just take theirs or our word for it, do a credit check.
A simple credit check can be done in minutes online, for free by using a company called DueDil.
To carry out a credit check and for more information please visit: www.duedil.co.uk
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