The phrase ‘Scale Up’ has traditionally been associated with businesses that have moved from the start-up phase and are entering into their second or third year of trading. However, it appears that the demographics of a Scale Up company are changing. The latest Government figures show that it is now companies who are over 20-years of age that are Scaling Up. Furthermore, the statistics show that in fact the fastest growing companies are those between 10 and 15 years in age.
A business which is in its Scale Up phase typically is one that has a well-established service or product portfolio, has proven its sustainability and is now entering the exciting growth phase of its lifecycle.
To safely navigate the Scale Up, a business often has to look at increasing numbers of staff, purchase assets, improve facilities or indeed move to larger premises. This can mean however, that the biggest barrier a company faces with Scaling Up is a financial one. It is vital to invest, but at the same time the need to remain in a strong financial position to ensure that the business continues to operate is crucial.
This is where it is important to find the right company to assist you with obtaining business finance. Traditionally, a quick call to your local Bank Manager would be your first step. However, with the closure of local branches, it is becoming more difficult to get support from your bank. Unfortunately, the Banks are changing their strategy and a dedicated point of contact is now only available for businesses with a turnover in excess of £6million. A personal service and key point of contact for the small business community is something that a high street bank now rarely provides.
However, help in securing Scale Up finance is readily available here at NGI Finance. Whether you need £50k to fund working capital to enable the introduction of new employees or £100k to complete onboarding costs to secure a new contract, the NGI team are here to help. Unlike your Bank, we are only a call away and you are guaranteed to receive personal service.
In recent months we have supported Scale Up businesses with:
- Asset finance to purchase new equipment
- Sales invoice finance to provide money upfront allowing immediate work to commence on new contracts
- Commercial mortgages both for the acquisition of new properties and the redevelopment of existing facilities
- Business loans to provide a boost in cash flow
If you have a question or need any support in regard to finance for Scale Ups, then our team would be delighted to help. Please feel free to call us on 01993 706403 or e-mail firstname.lastname@example.org.