Borrowing to Finance your Creative Business
Top tips for borrowing, from creative businesses with experience.
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Top tips for borrowing, from creative businesses with experience.
It explored the pros and cons of creative businesses borrowing money through banks, venture capital and loan schemes as a way of raising finance. Chaired by John O'Neill, Accountant and Director at The O'Neill Partnership our panel were:
If you are considering borrowing as an option for your business pick up some top tips from our contributors' borrowing experiences:
Make sure you know what you are borrowing the money for. Knowing precisely why you need the money, how's it going to benefit your business and how its going to help you to grow is a really good first step.
Gillian Kyle, Managing Director, Gillian Kyle Ltd.
Only take on the money you really need. There is always the temptation for businesses to borrow more. But you've always got to bear in mind the money has got to be paid back.
Richard Myers, Commercial Director, Transmit Start-Ups
Please note: Youth Business Scotland (YBS) was formerly known as The Prince's Scottish Youth Business Trust (PSYBT). YBS no longer runs the Innovation Fund Loan. Information about YBS's current grants and loans can be found on their website.
