Once the decision to start up a business has been made, there are many more decisions and actions that need to be taken to actually get things off the ground. Take finance for example. There is a steady train of thought that screams ‘do not use personal savings’, as these are definitely going to needed later on to cushion any lean times. Personal savings are to be kept as safe as possible. So where to get funds – there is a plethora of info on social media sites on how to do this and how not to do that. What they don’t say is how good the national government web site is. There is a whole section on how to organise your start up application and how to get advice, how to get the appropriate type of funding and what is needed to put an application together. They have set up a funded start up business system for newbies. This con offer funding to applicants by way of specialist start up business loans which are like personal loans but specifically geared for that business purpose and cannot be used for anything else. The applicant will be paired with a very experienced business adviser who will assist with putting together the application forms and can generally proffer advice on other aspects such as what other evidence will be needed to show credit worthiness of the applicant.

The start up business loan differs from a personal loan in that it is not secured so there is no anger of the house or other asset being put up as surety against default on the loan.