Scale-up is a very topical phrase especially across the business environment. Often a business in its scale-up phase is one that has grown by 20% over a 2-year period and will continue to grow at a consistent rate.
Having been on a growth curve and reached a certain size, the scale-up business will now be ready to capitalise further on their success and will have very ambitious growth plans. Navigating this scale-up phase can be challenging, its needs accurate planning and forecasting along with a solid infrastructure that can adapt to the future needs of the business.
Many scale-up businesses will often need some form of scale-up finance.
Scale-up finance can help with any form of business growth. It can assist a manufacturing firm to increase production and capacity levels thanks to new equipment and workforce. It can help a recruitment agency to fulfil future contracts by bridging the gap between the salaries of temporary worker being paid and client invoices being settled. It can also assist with the purchase of a new fleet of electric vehicles. Scale-up finance is truly diverse.
There are also benefits with utilising the new Government finance initiative of the Recovery Loan Scheme (RLS). Although the name suggests it is to help businesses to recover as a result of the COVID-19 impact it can also be used by a scale-up business. The RLS is a highly viable option for helping fulfil growth plans. Loan facilities are available up to £250,000 without a personal guarantee and up to £10million with a personal guarantee. With terms of up to 6-years, there are many scale-up businesses using finance through RLS.
If you would like to know a little more about scale-up finance, feel free to call us on 01993 706403 or e-mail email@example.com.