Finance hassle

[Johny Walker]

wont orange plant do the finance for you they seem to have some good deals @ the mo

[Buzz]

Whilst I agree that one can be vulnerable with too much debt, I would add that borrowing can be extremely effective if it is managed properly. (have you ever seen Dragons' Den?)

 

I know many in business who struggle away with low borrowings, getting absolutely nowhere, whereas others borrow to buy good kit and, with proper management, increase their turnover with a direct effect on profitability.

 

 

Exactly, they key is to identify a need or niche and take the plunge.

 

I know of several contractors who invested heavily in tree clearance machinery at a time of great uncertainty. Played the market right and are now pulling out of this area after decades of being the only people with this kit.

[Steve Bullman]

mark, have you considered taking a couple of credit cards out? ive taken out a few lately with 0% for 6 months. both companies gave me around 6k credit with no fuss at all.....maybe an option? then transfer the balances elsewhere in 6 months time

[PeteB]

A mate got his wife a new car on the 0% credit card trick whilst she wasn't earning but needed transport. It worked for him okay, he paid off as much as he could every month and swapped the balance to another card when the deal expired. A small hassle but he got the car, paid for it in 3 years with no interest on the borrowing. Plus his credit rating went up because he cleared a portion off of the balance every month.

Edited October 1, 2009 by PeteB
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[Stephen Blair]

the credit card thing is a great wee trick, but you MUST adhereto there policy and swap to another the second one is up. i have never done this myself but i know lots of people that have, but you need to be disciplined and not let one lapse or they will thump it into you

[jamesw]

Well i spoke to a leading high street bank today and they told me that they are still lending the same now as they were before? and offered me a stupid overdraft(we are talking K's) on a brand new business account with no business plan or history with that bank:confused1:

[Chris Sheppard]

and offered me a stupid overdraft(we are talking K's) on a brand new business account with no business plan or history with that bank:confused1:

 

 

Yep, and then after a while they start reducing the overdraft if it looks like you're using it - they charge you for putting money in, charge you for taking it out and charge you when you run out

[Mark Bolam]

That does surprise me, mate.

 

TBH, my bank are one of the avenues I haven't explored.

 

Have you seen the cost of calls to Mumbai these days though?

[jamesw]

I didn't take it! I new i would have spent it all by tomorrow:lol: and banks are like women all alluring with sexy offers and then once they have got you they treat you to nothing and take everything you got

[jamesw]

Mark it was Natwest and they do that gauranteed by the goverment scheme thingymajig!