UK Business Owners: Loan Obstacles Revealed | Are You Missing Out on Government Backed Funding?
Learn what ‘buying and selling actions’ imply for the brand new Government Growth Guarantee Scheme (GGS) mortgage eligibility.
Key extract:
What does buying and selling actions imply?
In this case, Put merely the enterprise must earn greater than half of its complete income from its core enterprise operations (for instance., shopping for and promoting items or companies)
If you contemplate a state of affairs the place an IT consulting firm with a turnover of £100,000 is requesting this mortgage.
And it’s Revenue is damaged down as such:
* £40,000 from Consulting Services
* £35,000 from Investment Income:
* And £25,000 of Rental Income from Property
In this case, the corporate earns solely 40% of its complete turnover from its major buying and selling exercise so it could not qualify for Growth Guarantee Scheme (GGS).
Don’t miss out on potential funding! Understand if your enterprise qualifies and discover different enterprise mortgage choices.
#ukbusinesses #governmentloanscheme #ggs #businessfinance #sme #entrepreneurtips
Need assist securing a enterprise mortgage? Contact James Murray Finance for skilled steerage tailor-made to your wants.
For extra data on the Government Growth Guarantee Scheme (GGS) Check out my different video:
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