Financing your business

Updated: 18 July 2022

Flexible funding for your business

Success can often depend on having access to finance that best suits your needs. Being able to secure the right type of finance at the right time allows you to invest, grow profitably and fulfil orders with confidence.

The right financial package

It's important to get the best financial product and mix of finance to fit your business needs. Having finance available is an asset, and like any asset you should utilise it. Whether you're a new business, taking advantage of a business opportunity or simply planning to cover day-to-day expenses, on this page you'll find helpful information to guide you through the steps you need to take.

Establish a solid financial base

At the heart of any successful business is a solid base, so establishing a strong financial platform for your business is essential. It will help to manage any temporary difficulties and allow you to make the most of growth opportunities when they arise.

This requires the regular production and review of strategic reports, budgets and cashflow projections. This fundamental information will support any decision you make on everything from purchasing new equipment, expansion plans to exploring new markets.

Decide how much you need

To help you decide how much funding you need, you should make a detailed business plan that covers things like operational costs and financial forecasts.

This should help you identify how much financing you require and when you'll need it, allowing you to build in sufficient time to put it into place. If your business goes through peaks and troughs with seasonal sales patterns then you'll need to account for contingency funding.

Sources of financial support

There are a wide range of funding options, whether you're looking for start-up funds, cash to expand or money to get you through challenging times. When deciding on the best source of finance, you should take into account your long-term business plans and your ability to meet repayment commitments.

You can fund your business through an overdraft or loan, personal savings, family and friends or consider non-traditional forms of funding with the following options: