3 THINGS YOU MUST DO BEFORE APPLYING FOR BUSINESS FINANCE Funding and Business Growth Playbook T: 0330 350 3356 @: hello@GrowingYourNumbers.com www: growingyournumbers.com
For a Better
For Health Reasons (you or a loved one)
For Family Reasons
Death
Work / Life Balance
The big question therefore is this: Are you going to be able to exit your business, on your terms and at a time of your choosing or is your business going to fail before you get to wherever it is you want to get to?
Business Success – The Harsh Reality
If we look at the pre-Covid business survival rates the statistical chances of businesses ending successfully are not great. Below you will see the five-year survival rate for businesse s ‘born’ in the UK in 2014 is just 42.5%.
https://www.ons.gov.uk/businessindustryandtrade/business/activitysizeandlocation/bulletins/businessdemography/2019
Just think, 42.5% survive, that means nearly 60% will fail. But is not failing success, clearly not, that simply means you are still in the race, to be successful you must end the race. What does that mean for you and your business?
Surviving to still be trading in 5 years is only a point on the journey. If your personal goals include a financial cash injection via a sale or management buy-out, when you want to Exit, the statistics are even worse…
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