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
Other than being a small number, 0.0425% does not make much sense to most, so another way to explain it: Only 1 in 2,222 entrepreneurs will live to see their baby, the business they have slaved to build, achieve a successful exit, one that delivers their expected financial outcome. Let’ s put this into perspective …
There were 5.86* million businesses in the UK in 2019. The vast majority do not have employees, for example crafts people, couriers, and contractors … these businesses make up nearly 76% of the total businesses in the UK.
Of the remainder, those that employ people, there were 1.4 million employers in the UK in 2019. http://www.gov.uk
If you are one of these, the objective of this Playbook is to provide you with practical, real world, low and no cost ideas, tips and pointers to help you maximise your chance of achieving a ‘Successful Outcome’ for your business.
The Optimum Strategy for Success: Measure what Matters – Lead vs Lag Indicators.
You need to understand and track your ‘Input Drivers’ , monitor and control the inputs and the outputs take care of themselves. Unfortunately, most businesses and their advisors spend all their time looking at outputs, rather than inputs.
Think of it this way: Revenue, profit and cash balance are outputs , or ‘Lag Indicators’ and you cannot control them. However, you can control the inputs, or the ‘Lead Indicators.
Funding and Business Growth Playbook ^N0 V1.1 (GYN FO).docx | Confidential
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