Post Credit Crisis Funding

Size: px
Start display at page:

Download "Post Credit Crisis Funding"

Transcription

1 Post Credit Crisis Funding By Glenn Hutchinson RBSIF optional client logo 00 MONTH 2004

2 Post Credit Crisis funding optional client logo/presentation title centre proportionally in this space delete this box before printing Raising funds from external sources

3 Post Credit Crisis Funding 1 Introduction 2 RBS and the Credit Crunch lessons learned 3 Criteria for funding in the real economy 4 Presenting your case 5 New directions for the business community 6 Problems and Opportunities that we share 7 Conclusion

4 Introduction Introduction Who am I? What is RBS Invoice Finance? What is Invoice Finance? What does an Account Manager do? How important is it to the UK economy? Why is Invoice Finance replacing the traditional overdraft? Where can I find out more?

5 RBS and The Credit Crunch lessons learned He who goes a- borrowing, goes a-sorrowing -Over reliance on borrowed money Buying a business for the wrong price and at the top of the market Poor research into the business you are buying Not fully understanding where risk lies how many investment bankers to break the bank? Over-exuberance and a belief that the party will continue Centralisation of power one person too dominant

6 Criteria for funding used by commercial lenders CAMPARI and ICE? C character, the people and their background A ability people and their skills M means can they afford it P purpose Legal? Ethical? Sustainable? A amount danger if too low or too high R repayment timescale and serviceability, EBITDA I insurance security if it goes wrong ICE Interest, commission, extras KYC know your customer Collateral, cashflow, certainty relevant skills and experience Exit Strategy if it goes wrong how do we get our money back? Guarantees personal, corporate, Government, other

7 Presenting your case Preparation research, test, refine the business idea Engage professional support early Start from scratch, buy a business, franchise? Business Plan equal words and numbers Market overview and your USP Who, what, where, when, why/ SWOT/ 5 Forces Financial Forecasts P&L, Balance Sheet and Cashflow for 3 years Clearly state the assumptions behind the forecasts Research the providers (use Business Money) Meet, impress, follow up, pursue Get at least 2 quotes and allow time to compare offers Be prepared to negotiate or walk away

8 Case Studies Start up copy of well-known frozen bread distributor Well capitalised, experienced team, supportive EU supplier Share Capital, SFLG, Invoice Finance and Director loans Lost money in all of first 4 years, poor accounting, weak stock control Exposure to exchange risk, very competitive market, margins too low, transport and storage costs MBO of electronic cable manufacturer Very heavily geared with Bank debt, Invoice Finance and large deferred consideration Rapid pace of product innovation in digital TV fuelled trebling of sales Well- conceived business model and low overhead Massive profits allowing rapid pay-off of previous owners De-geared from expensive Bank borrowing over 3 years instead of 8 Retained Invoice Finance to handle peaks and trough and tax bills.

9 New Directions for the business community New approach to Risk by the Banks? Not yet! Red Toryism? a blonde idea? Public to Private Co-ops, Social Enterprises, Trading Charities?? Employee owned businesses Corporate Venturing But.the general economic situation is tough UK plc has had its competitiveness blunted Confidence/investment/innovation UK plc degearing, shrinking, volumes and margins down.

10 Problems and opportunities we share The Banking sector is still under pressure New capital adequacy rules will restrict lending ability Split up of big Banks will disrupt the sector International ambition by all participants has stalled Government will step back once new Regulations are in place But.there will be new market entrants Trading companies will step into Bank space (Tesco & Supplier Finance) Government will insist that Banks try to hit lending targets Confidence will return UK plc is too innovative to fail

11 The contents of this document are indicative and are subject to change without notice. This document is intended for your sole use on the basis that before entering into this, and/or any related transaction, you will ensure that you fully understand the potential risks and return of this, and/or any related transaction and determine it is appropriate for you given your objectives, experience, financial and operational resources, and other relevant circumstances. You should consult with such advisors as you deem necessary to assist you in making these determinations. The Royal Bank of Scotland plc ( RBS ) will not act as your advisor or owe any fiduciary duties to you in connection with this, and/or any related transaction and no reliance may be placed on RBS for advice or recommendations of any sort. RBS makes no representations or warranties with respect to the information and disclaims all liability for any use you or your advisors make of the contents of this document. RBS and its affiliates, connected companies, employees or clients may have an interest in financial instruments of the type described in this document and/or related financial instruments. Such interest may include dealing, trading, holding, acting as market-makers in such instruments and may include providing banking, credit and other financial services to any company or issuer of securities or financial instruments referred to herein. RBS is authorised and regulated in the UK by the Financial Services Authority The Royal Bank of Scotland plc. Registered Office: 36 St Andrew Square, Edinburgh EH2 2YB. Registered in Scotland No A Royal Bank of Scotland Group company.

5 Year UK Growth Certificate

5 Year UK Growth Certificate 5 Year UK Growth Certificate The 5 Year UK Growth Certificate (the Certificate ) provides the opportunity to make a fixed return equal to 35.75% of the Issue Price (gross) on the Maturity Date. Whether

More information

Gold BUGS Tracker. This product is available for UK residents only. Product information Classification. Index-linked Certificate Issuer

Gold BUGS Tracker. This product is available for UK residents only. Product information Classification. Index-linked Certificate Issuer This product is available for UK residents only Gold BUGS Tracker The Gold BUGS Tracker (the Certificate ) tracks the performance of the NYSE Arca Gold BUGS Index (the Index ), less an annual management

More information

Managing Cash Flow. A guide to help you broaden your understanding of how to manage cash flow in a small business

Managing Cash Flow. A guide to help you broaden your understanding of how to manage cash flow in a small business Managing Cash Flow A guide to help you broaden your understanding of how to manage cash flow in a small business This guide looks at the key elements of cash flow and working capital and how its management

More information

Explaining Enterprise Finance Guarantee Loan Mis-selling

Explaining Enterprise Finance Guarantee Loan Mis-selling Business Loan Claims Explaining Enterprise Finance Guarantee Loan Mis-selling All Square. All Fair. January 2015 1 Enterprise Finance Guarantee Loans were sold through the main UK high street banks and

More information

Taking Stock Financial Health / Working Capital options

Taking Stock Financial Health / Working Capital options Taking Stock Financial Health / Working Capital options Presented by Jim Gleeson - Ulster Bank 22nd February 2012 Slide 1 Is uncertainty a threat or an opportunity?.. Businesses that we speak to who are

More information

Dealing With Your Banker &

Dealing With Your Banker & Dealing With Your Banker & Other Lenders Your financing The success or failure of your business will depend on whether or not you have enough capital to: buy the equipment and inventory you need; pay overhead

More information

Commonwealth Caribbean Regional Conference. Investing in Youth Exploring Strategies for Sustainable Employment. Financing and Financial Mechanisms

Commonwealth Caribbean Regional Conference. Investing in Youth Exploring Strategies for Sustainable Employment. Financing and Financial Mechanisms Commonwealth Caribbean Regional Conference Investing in Youth Exploring Strategies for Sustainable Employment Financing and Financial Mechanisms Presented by Ian Chinapoo May 25 th, 2011 Outline: Background

More information

Know o ing Y o Y ur r Options s & How to Access Them

Know o ing Y o Y ur r Options s & How to Access Them Knowing Your Options & How to Access Them Funding Choices in Edinburgh & Scotland Type of Finance Investment Grants Loans Type of Finance Invoice Financing Owners Capital Cash From Profits Asset Finance

More information

BORROWING. A guide to borrowing. Overdrafts, credit cards, loans

BORROWING. A guide to borrowing. Overdrafts, credit cards, loans BORROWING A guide to borrowing Overdrafts, credit cards, loans Three ways to borrow that can work for you All of us need a little extra help at times. So if you want to borrow money for a new car or kitchen

More information

6 % Information booklet. Retail Bond Offer fi xed to December 2020. The Paragon Group of Companies PLC. www.paragon-group.co.uk/group/retail-bond

6 % Information booklet. Retail Bond Offer fi xed to December 2020. The Paragon Group of Companies PLC. www.paragon-group.co.uk/group/retail-bond Information booklet The Paragon Group of Companies PLC 13 February 2013 6 % Retail Bond Offer fi xed to December 2020 Lead Manager and Offeror Canaccord Genuity Limited Authorised Offerors Barclays Stockbrokers

More information

THE ESSENTIAL GUIDE TO APPLYING FOR A BUSINESS LOAN TO APPLY FOR A BUSINESS LOAN

THE ESSENTIAL GUIDE TO APPLYING FOR A BUSINESS LOAN TO APPLY FOR A BUSINESS LOAN THE ESSENTIAL GUIDE TO APPLYING FOR A BUSINESS LOAN TO APPLY FOR A BUSINESS LOAN 7 TRIED-&-TESTED STEPS CONTENTS Contents 2 So you want to apply for a business loan? 3 STEP 1: Determine whether a loan

More information

Financial Advice Guide for your Business

Financial Advice Guide for your Business Financial Advice Guide for your Business Contents Section 1: Section 2: Section 3: Section 4: Section 5: Section 6: Talk to your bank Reviewing your business for the future Managing your business today

More information

Xynergy Commercial Capital LLC

Xynergy Commercial Capital LLC Xynergy Commercial Capital LLC How Can Work For You The Problem Short of cash and must pay suppliers, lease, bills and salaries? No need for stress, get your payments in advance for your invoices and pay

More information

Helping businesses source finance

Helping businesses source finance SUPPORTING BUSINESS - SOURCING FINANCE Helping businesses source finance Helping businesses source finance These are challenging times for every business. The economic environment has changed and many

More information

Online Accounting Software FUNDING OPTIONS GUIDE

Online Accounting Software FUNDING OPTIONS GUIDE Online Accounting Software FUNDING OPTIONS GUIDE Why you need to think about funding Every business needs money. Starting a business presents new challenges, many of which will require some financial outlay.

More information

Mortgage Account Charges. The charges you may need to pay in connection with your mortgage

Mortgage Account Charges. The charges you may need to pay in connection with your mortgage Mortgage Account Charges The charges you may need to pay in connection with your mortgage Tariff of Mortgage Charges RBS is closely involved in the mortgage industry s initiative with the Council of Mortgage

More information

Interest Only Expiry. July 2013

Interest Only Expiry. July 2013 Interest Only Expiry July 213 Regulation on Interest Only Regulation requires residential borrowers to amortise within 3 years even if the loan to value ratio is below the regulatory maximum of 8 percent

More information

XPortfolio Project. Enhancing Functionality for Business Management. A Major Qualifying Project Report. Submitted to the Faculty of

XPortfolio Project. Enhancing Functionality for Business Management. A Major Qualifying Project Report. Submitted to the Faculty of XPortfolio Project Enhancing Functionality for Business Management A Major Qualifying Project Report Submitted to the Faculty of Worcester Polytechnic Institute In Partial Fulfillment of the Requirements

More information

You can put aside money each month into a savings account that pays interest - when you have saved up 800 you can buy the TV

You can put aside money each month into a savings account that pays interest - when you have saved up 800 you can buy the TV You can put aside money each month into a savings account that pays interest - when you have saved up 800 you can buy the TV If you saved 30 per month it would take 27 months to save up 800 If you saved

More information

A guide to the business services offered by: Also Trading As Really Useful Brokers Really Useful Factoring. 1 P a g e

A guide to the business services offered by: Also Trading As Really Useful Brokers Really Useful Factoring. 1 P a g e A guide to the business services offered by: Also Trading As Really Useful Brokers Really Useful Factoring 1 P a g e Contents Useful business contacts Business & Strategic Planning is not just for big

More information

Your bid for growth funds. Supporting your business with financing decisions

Your bid for growth funds. Supporting your business with financing decisions Your bid for growth funds Supporting your business with financing decisions Contents 3 Introduction 4 Preparing your application 6 Assessing applications 8 What Barclays considers 9 Funding solutions 10

More information

Enterprise Ireland. Finance 4 Growth Sourcing External Funding. June 2012

Enterprise Ireland. Finance 4 Growth Sourcing External Funding. June 2012 Enterprise Ireland Finance 4 Growth Sourcing External Funding June 2012 Cormac Mohan FM Accountants & Business Advisers cmohan@fmaccountants.ie www.fmaccountants.ie Agenda / Contents : Introduction Cash

More information

abcd EfëëìÉê=Ó=qÜÉ=oçó~ä=_~åâ=çÑ=pÅçíä~åÇ=éäÅ=çê=r_p=^dF 0B0B`çìííë=píêìÅíìêÉÇ=fåîÉëíãÉåíë=mä~å= 1B1Baì~ä=fåÇÉñ=aÉÑÉåëáîÉ=^ìíçÅ~ää=píê~íÉÖó=sf =======

abcd EfëëìÉê=Ó=qÜÉ=oçó~ä=_~åâ=çÑ=pÅçíä~åÇ=éäÅ=çê=r_p=^dF 0B0B`çìííë=píêìÅíìêÉÇ=fåîÉëíãÉåíë=mä~å= 1B1Baì~ä=fåÇÉñ=aÉÑÉåëáîÉ=^ìíçÅ~ää=píê~íÉÖó=sf ======= = = = 0B0B`çìííë=píêìÅíìêÉÇ=fåîÉëíãÉåíë=mä~å= 1B1Baì~ä=fåÇÉñ=aÉÑÉåëáîÉ=^ìíçÅ~ää=píê~íÉÖó=sf ======= EfëëìÉê=Ó=qÜÉ=oçó~ä=_~åâ=çÑ=pÅçíä~åÇ=éäÅ=çê=r_p=^dF 2B2BStrategy Features abcd 1 Introduction = This

More information

Financing Business Growth

Financing Business Growth Name: Class: Date Taken: Total Possible Marks: 30 Financing Business Growth Complete the following questions in the time allowed by your teacher. Identify up to three factors that a business should consider

More information

Inward Investment. Setting up and growing your business in the UK

Inward Investment. Setting up and growing your business in the UK Inward Investment Setting up and growing your business in the UK Setting up in the UK Overseas companies are continuing to enjoy the benefits of doing business in the UK. In fact, the UK leads Europe in

More information

Guide to: Debt Management Plans. Debt Advisory Services (Scotland) Limited Telephone 08000112322 www.scottishdebthelp.co.uk

Guide to: Debt Management Plans. Debt Advisory Services (Scotland) Limited Telephone 08000112322 www.scottishdebthelp.co.uk Guide to: Debt Management Plans Debt Advisory Services (Scotland) Limited Telephone 08000112322 www.scottishdebthelp.co.uk Contents 1. What is a Debt Management Plan 2. How The Process Works 3. DMP FAQs

More information

2016 Interim Results Presentation 24 November 2015

2016 Interim Results Presentation 24 November 2015 2016 Interim Results Presentation 24 November 2015 Disclaimer This presentation includes statements that are, or may be deemed to be, forward-looking statements. These forward-looking statements can be

More information

Small and Medium Enterprises: Information Booklet for Borrowers in Financial Difficulties

Small and Medium Enterprises: Information Booklet for Borrowers in Financial Difficulties Small and Medium Enterprises: Information Booklet for Borrowers in Financial Difficulties Bank of Scotland plc Customer Guide Introduction: We at Bank of Scotland plc (the Bank ) understand that in the

More information

Selecting sources of finance for business

Selecting sources of finance for business Selecting sources of finance for business by Steve Jay 08 Sep 2003 This article considers the practical issues facing a business when selecting appropriate sources of finance. It does not consider the

More information

Spotlight Quiz. Financial Risk

Spotlight Quiz. Financial Risk Spotlight Quiz Financial Risk 1 Risk and Reward One of the first things that we learn in finance is that there is a relationship between risk and reward; if you want to earn high rewards you need to accept

More information

Overview of Financial Solutions

Overview of Financial Solutions Overview of Financial Solutions The Etra Advisory Group provides solutions to businesses for growth, expansion, cash flow, refinance and acquisition. We cover the world of business financing that banks

More information

Standard Bank Talking Finance to Business

Standard Bank Talking Finance to Business Standard Bank Talking Finance to Business Agenda 1 Introduction Stage of business Cash flow management Financing solutions What do Bank s look at when considering a loan, and what can you do? Why are loans

More information

How Bankers Think. Build a sound financial base to support your company for future growth

How Bankers Think. Build a sound financial base to support your company for future growth How Bankers Think Build a sound financial base to support your company for future growth Presented by: Lisa Chapman Business Planning, Social Media Marketing & SEO 615-477-8412 Questions to Consider First

More information

Loan financing for service providers

Loan financing for service providers Loan financing for service providers May 2014 Disclaimer The materials presented in this document are for general information only and should not be taken as constituting professional advice. Users should

More information

Business finance. a practical guide BUILDING YOUR KNOWLEDGE. smallbusiness.wa.gov.au. The small business specialists

Business finance. a practical guide BUILDING YOUR KNOWLEDGE. smallbusiness.wa.gov.au. The small business specialists Business finance a practical guide BUILDING YOUR KNOWLEDGE Small Business Development Corporation 13 12 49 smallbusiness.wa.gov.au The small business specialists A practical guide to business finance An

More information

Funding business expansion. Asset Finance and Asset-Based Lending as alternative approaches to Debt Finance

Funding business expansion. Asset Finance and Asset-Based Lending as alternative approaches to Debt Finance Funding business expansion Asset Finance and Asset-Based Lending as alternative approaches to Debt Finance Targeting growth If there was any doubt whether the UK economy remains on the path to growth,

More information

Helping Your Prospective Businesses Get the Funding They Need. Connie Edwards

Helping Your Prospective Businesses Get the Funding They Need. Connie Edwards Helping Your Prospective Businesses Get the Funding They Need Connie Edwards Reminders Connie Edwards Business Consultant Small Business Development Center Savannah, Georgia cedwards@georgiasbdc.org 912-651-3200

More information

Cashflow Management. What is cashflow

Cashflow Management. What is cashflow Cashflow Management This Fact File Information Sheet looks at the key elements of cashflow, and how effective cashflow management will help protect the financial security of a business. It outlines the

More information

Floating Rate Note Issue Investor Presentation. March 2006

Floating Rate Note Issue Investor Presentation. March 2006 Floating Rate Note Issue Investor Presentation March 2006 Disclaimer Slide 2 This document is being furnished to you solely for your review and may not be reproduced or redistributed, in whole or in part,

More information

Principles for the Reporting of Arrears, Arrangements and Defaults at Credit Reference Agencies

Principles for the Reporting of Arrears, Arrangements and Defaults at Credit Reference Agencies Principles for the Reporting of Arrears, Arrangements and Defaults at Credit Reference Agencies Foreword by the Information Commissioner s Office The Information Commissioner s Office (ICO) published Data

More information

SUB: STANDARD CHARTERED PLC (THE "COMPANY") STOCK EXCHANGE ANNOUNCEMENT

SUB: STANDARD CHARTERED PLC (THE COMPANY) STOCK EXCHANGE ANNOUNCEMENT April 26, 2016 To, Ms. D'souza AVP, Listing Department National Stock Exchange of India Exchange Plaza Bandra Complex Bandra (East) 400 001 Limited SUB: STANDARD CHARTERED PLC (THE "COMPANY") STOCK EXCHANGE

More information

Finance and Small Business

Finance and Small Business Small Business Management 4 2011 Finance and Small Business Notices: go to your own bank and ask for the Business Start-up Pack This should contain useful info (printed and in CD format). Take a look at

More information

Investec Power Finance. Solar Energy UK. Large-scale Solar Finance and Maximising your RoI

Investec Power Finance. Solar Energy UK. Large-scale Solar Finance and Maximising your RoI Investec Power Finance Solar Energy UK Large-scale Solar Finance and Maximising your RoI From start to finish: Construction finance and fundraising for new solar farms 8 October 2013 Disclaimer This document

More information

Does the cashflow in your business ever get tight?

Does the cashflow in your business ever get tight? Does the cashflow in your business ever get tight? Creditors Stretched and not paid Slow payment from customers Going without getting paid yourself Can t take on work because you can t afford it Equipment

More information

Unsecured Loans to Business in the UK - Key Trends and Opportunities up to 2018

Unsecured Loans to Business in the UK - Key Trends and Opportunities up to 2018 Brochure More information from http://www.researchandmarkets.com/reports/2933671/ Unsecured Loans to Business in the UK - Key Trends and Opportunities up to 2018 Description: - This report provides market

More information

Joint and Several Liability. Partnership responsibilities.

Joint and Several Liability. Partnership responsibilities. Joint and Several Liability. Partnership responsibilities. If you re going into business with partners, you need to know about Joint and Several Liability. This brochure highlights the main issues. Contents.

More information

GUIDE TO BUSINESS FINANCE & BUSINESS FUNDING

GUIDE TO BUSINESS FINANCE & BUSINESS FUNDING GUIDE TO BUSINESS FINANCE & BUSINESS FUNDING M3 Corporate Finance M3 Corporate Finance is an independent corporate finance house focused exclusively on mid-market transactions. M3 offers specialist corporate

More information

Part 10. Small Business Finance and IPOs

Part 10. Small Business Finance and IPOs Part 10. Small Business Finance and IPOs In the last section, we looked at how large corporations raised money. In this section, we will examine some of the financing issues facing small and start-up businesses.

More information

ASSET BASED LENDERS STAYING AHEAD IN AN EVER-CHANGING MARKET FEATURING THE NEW BDO ABL MONITORING DASHBOARD

ASSET BASED LENDERS STAYING AHEAD IN AN EVER-CHANGING MARKET FEATURING THE NEW BDO ABL MONITORING DASHBOARD i ASSET BASED LENDERS STAYING AHEAD IN AN EVER-CHANGING MARKET FEATURING THE NEW BDO ABL MONITORING DASHBOARD ii CONTENT MEETING THE CHALLENGE 1 THE BDO ABL MONITORING DASHBOARD 2 THE BALANCE SHEET MARKET

More information

Foreword. Benefits of using advisers include:

Foreword. Benefits of using advisers include: Raising finance Foreword Raising funding be it bank, venture capital or business angel finance is a complicated process and can be both daunting and stressful. Using experienced advisers is essential to

More information

how to finance the business

how to finance the business A DV I C E B O O K L E T how to finance the business HOW TO FINANCE THE BUSINESS Getting enough of the right funding is one of the more difficult tasks that you will face as a new entrepreneur. Typically,

More information

Debt Options Information guide

Debt Options Information guide Debt Options Information guide Debt & Money Advice Support CIC (DMAS CIC) is authorised and regulated by the Financial Conduct Authority FRN: 631799. A company registered in England & Wales 9203918. 1

More information

WHAT A LENDER LOOKS FOR

WHAT A LENDER LOOKS FOR WHAT A LENDER LOOKS FOR ALL LOAN PROPOSALS SHOULD CLEARLY ANSWER 5 QUESTIONS: HOW MUCH MONEY YOU WANT WHAT YOU WANT IT FOR WHEN YOU WILL PAY IT BACK HOW YOU WILL PAY IT BACK WHAT IS OFFERED AS SECURITY

More information

Debt Freedom Plan. John and Mary Sample

Debt Freedom Plan. John and Mary Sample Debt Freedom Plan For August 1, 2015 Prepared by Money Tree Software 2430 NW Professional Dr. Corvallis, OR 97330 541.754.3701 Cover page text, cover page logo, and report headers are customizable. This

More information

FINANCING FOR BUSINESS

FINANCING FOR BUSINESS FINANCING FOR BUSINESS The Swale Business Conference 2015 Gavin Coleman - Handelsbanken www.handelsbanken.co.uk/chatham Introduction Gavin Coleman Branch Manager Handelsbanken (Swale & Medway) 17 years

More information

Calculating financial position and cash flow indicators

Calculating financial position and cash flow indicators Calculating financial position and cash flow indicators Introduction When a business is deciding whether to grant credit to a potential customer, or whether to continue to grant credit terms to an existing

More information

Access to Finance Guide: 1. Bank Finance Options

Access to Finance Guide: 1. Bank Finance Options Access to Finance Guide: 1. Bank Finance Options Overdrafts An overdraft is a flexible way for you to manage short-term borrowing requirements. Business overdrafts are traditionally easy to arrange and

More information

Application for Business Credit

Application for Business Credit Application for Business Credit Please complete all relevant sections of the Application form and attach copies of requested information to ensure we are in the best possible position to assess your lending

More information

Private Banking Current Account. Account Opening Form

Private Banking Current Account. Account Opening Form Private Banking Current Account Account Opening Form The proof of identity you need to open an account with us (new clients) To protect clients from the risks of fraud and prevent money laundering, we

More information

Fee free. Current accounts Application form for a sterling bank account

Fee free. Current accounts Application form for a sterling bank account Fee free Current accounts Application form for a sterling bank account Welcome We welcome you to Isle of Man Bank and thank you for choosing us. To help us decide whether we can provide you with the services

More information

CIMA F3 Course Notes. Chapter 3. Short term finance

CIMA F3 Course Notes. Chapter 3. Short term finance CIMA F3 Course Notes c Chapter 3 Short term finance Personal use only - not licensed for use on courses 31 1. Conservative, Aggressive and Matching strategies There are three over-riding approaches to

More information

ADAM ONLINE THIRD PARTY APPLICATION FORM FOR PRIVATE CLIENTS

ADAM ONLINE THIRD PARTY APPLICATION FORM FOR PRIVATE CLIENTS ADAM ONLINE THIRD PARTY APPLICATION FORM FOR PRIVATE CLIENTS A guide to completing the Adam Online Third Party Application Form for Private Clients 1. Client s details Enter the full name of the existing

More information

Source Process Distribute Creating an integrated value chain

Source Process Distribute Creating an integrated value chain Interim Results 6 Months Ended 30 November 2010 Source Process Distribute Creating an integrated value chain Results Highlights Successful H1 Underlying operating profit increased by 13.3% to 20.9m Profit

More information

Business Credit Review Borrower Application

Business Credit Review Borrower Application Business Credit Review Borrower Application Please print this form and complete in BLOCK CAPITALS and in black ink. Please mark option boxes with an X Who are we We are a member of the Royal Bank of Scotland

More information

Using Accounts to Interpret Performance

Using Accounts to Interpret Performance Using s to Interpret Performance ing information is used by stakeholders to judge the performance and efficiency of a business Different stakeholders will look for different things: STAKEHOLDER Shareholders

More information

The Royal Bank of Scotland plc

The Royal Bank of Scotland plc 5 October 2011 The Royal Bank of Scotland plc (Incorporated in Scotland with limited liability under the Companies Acts 1948 to 1980, registered number SCO90312) 200 Put Warrants linked to the performance

More information

RBS Collective Investment Funds Ltd Derivatives Risk Management Policy. Part 1: Authorised Corporate Director ( ACD ) Overarching Arrangements

RBS Collective Investment Funds Ltd Derivatives Risk Management Policy. Part 1: Authorised Corporate Director ( ACD ) Overarching Arrangements RBS Collective Investment Funds Ltd Derivatives Risk Management Policy Part 1: Authorised Corporate Director ( ACD ) Overarching Arrangements Contents Page Policy Statement 3 Derivatives Defined 3 Credit

More information

HOW TO IMPROVE CASH FLOW

HOW TO IMPROVE CASH FLOW HOW TO IMPROVE CASH FLOW What causes cash flow problems? Allowing customers too much credit Overtrading How can cash flow be improved? Review trade credit with suppliers Review credit offered to customers

More information

Steer the course with constant leverage

Steer the course with constant leverage Constant Leverage Certificates Steer the course with constant leverage rbsbank.ch/markets Investing with constant leverage 3 The characteristics of Constant Leverage Certificates 4 at a glance The value

More information

SMALL BUSINESS DEVELOPMENT CENTER RM. 032

SMALL BUSINESS DEVELOPMENT CENTER RM. 032 SMALL BUSINESS DEVELOPMENT CENTER RM. 032 FINANCING THROUGH COMMERCIAL BANKS Revised January, 2013 Adapted from: National Federation of Independent Business report Steps to Small Business Financing Jeffrey

More information

Higher National Unit specification: general information

Higher National Unit specification: general information Higher National Unit specification: general information Unit code: H0C0 35 Superclass: AL Publication date: May 2012 Source: Scottish Qualifications Authority Version: 01 Unit purpose This Unit is designed

More information

Corporate Credit Analysis. Arnold Ziegel Mountain Mentors Associates

Corporate Credit Analysis. Arnold Ziegel Mountain Mentors Associates Corporate Credit Analysis Arnold Ziegel Mountain Mentors Associates I. Introduction The Goals and Nature of Credit Analysis II. Capital Structure and the Suppliers of Capital January, 2008 2008 Arnold

More information

Corporate Financial Services

Corporate Financial Services Corporate Financial Services The FdSc Professional Diploma in Banking Practice and Management is awarded by the University of Kent. The ifs School of Finance is a not-for-profit professional body and registered

More information

GETTING A BUSINESS LOAN

GETTING A BUSINESS LOAN GETTING A BUSINESS LOAN With few exceptions, most businesses require an influx of cash now and then. Sometimes it is for maintaining growth; sometimes it is for maintaining the status quo. From where does

More information

RELEVANT TO ACCA QUALIFICATION PAPER F9. Studying Paper F9? Performance objectives 15 and 16 are relevant to this exam

RELEVANT TO ACCA QUALIFICATION PAPER F9. Studying Paper F9? Performance objectives 15 and 16 are relevant to this exam RELEVANT TO ACCA QUALIFICATION PAPER F9 Studying Paper F9? Performance objectives 15 and 16 are relevant to this exam Business finance Section E of the Paper F9, Financial Management syllabus deals with

More information

This guide will show you how to:

This guide will show you how to: This guide will show you how to: Assess whether your business needs to close Close an insolvent business Understand the implications of closing down your business Consider your options for starting again

More information

The Back-to-Black Report. Are UK credit cardholders getting a good deal? A report by Mike Naylor, 2014

The Back-to-Black Report. Are UK credit cardholders getting a good deal? A report by Mike Naylor, 2014 The Back-to-Black Report Are UK credit cardholders getting a good deal? A report by Mike Naylor, 2014 This report was commissioned to investigate if UK credit cardholders are getting a fair deal from credit

More information

PKF Carr & Stanton. fastgrowth. Challenges for growing small businesses. Why you should hire an accountant?

PKF Carr & Stanton. fastgrowth. Challenges for growing small businesses. Why you should hire an accountant? PKF Carr & Stanton fastgrowth Challenges for growing small businesses Why you should hire an accountant? January 2016 Why you should hire an accountant Accountants can help out at various stages during

More information

M. Com (1st Semester) Examination, 2013 Paper Code: AS-2368. * (Prepared by: Harish Khandelwal, Assistant Professor, Department of Commerce, GGV)

M. Com (1st Semester) Examination, 2013 Paper Code: AS-2368. * (Prepared by: Harish Khandelwal, Assistant Professor, Department of Commerce, GGV) Model Answer/suggested solution Business Finance M. Com (1st Semester) Examination, 2013 Paper Code: AS-2368 * (Prepared by: Harish Khandelwal, Assistant Professor, Department of Commerce, GGV) Note: These

More information

Refinance your business debt

Refinance your business debt Refinance your business debt For many small businesses the initial financing arrangements put in place at start up are still in place many years later. For example, a company starts off with a simple overdraft

More information

Important Information to help people in mortgage arrears

Important Information to help people in mortgage arrears Important Information to help people in mortgage arrears September 2015 Talk to your Lender Banking & Payments Federation Ireland represents Ireland s principal mortgage lenders. These lenders are committed

More information

ESCO Financing. State of Israel Ministry of National Infrastructure. Pierre Baillargeon. March 2007 ECONOLER INTERNATIONAL

ESCO Financing. State of Israel Ministry of National Infrastructure. Pierre Baillargeon. March 2007 ECONOLER INTERNATIONAL ESCO Financing State of Israel Ministry of National Infrastructure Pierre Baillargeon March 2007 Agenda Evaluation of the EE market Introduction to the ESCO concept Introduction to performance contracts

More information

TREASURY AND INVESTMENT MANAGEMENT POLICY

TREASURY AND INVESTMENT MANAGEMENT POLICY TREASURY AND INVESTMENT MANAGEMENT POLICY 1.0 INTRODUCTION 1.1 This document sets out the policy for the University and its subsidiary companies concerning raising capital finance and investment of surplus

More information

27Forecasting cash flows 27Activity 27.1 open-ended question.

27Forecasting cash flows 27Activity 27.1 open-ended question. 27Forecasting cash flows 27Activity 27.1 open-ended question. Activity 27.2 (page 497): April cash flow 1 Draw up a revised cash-flow forecast for April assuming: cash sales are forecast to be $1,000 higher

More information

tutor2u Cash Management How and Why Businesses Need to Manage their Cash AS & A2 Business Studies PowerPoint Presentations 2005

tutor2u Cash Management How and Why Businesses Need to Manage their Cash AS & A2 Business Studies PowerPoint Presentations 2005 Cash Management How and Why Businesses Need to Manage their Cash AS & A2 Business Studies PowerPoint Presentations 2005 Importance of Cash (1) A business can exist for a while without making profits but

More information

Finance for the non-financial manager

Finance for the non-financial manager Finance for the non-financial manager A Guest Article by Paul Lower January 2010 How to control working capital and cash flow The banking crisis, credit crunch and global recession have provided the backdrop

More information

A guide to the Lending Code

A guide to the Lending Code A guide to the Lending Code For micro-enterprises Introduction This guide gives you an introduction to the standards you should expect from banks, building societies and credit-card providers who follow

More information

TERMS OF BUSINESS FROM ROYAL LONDON INCORPORATING OUR TRADING NAME SCOTTISH PROVIDENT

TERMS OF BUSINESS FROM ROYAL LONDON INCORPORATING OUR TRADING NAME SCOTTISH PROVIDENT For advisors only TERMS OF BUSINESS FROM ROYAL LONDON INCORPORATING OUR TRADING NAME SCOTTISH PROVIDENT Protection DOING BUSINESS TOGETHER 1. Our terms of business set out the conditions upon which we

More information

Important information to help people in mortgage arrears

Important information to help people in mortgage arrears Important information to help people in mortgage arrears September 2015 Contents Talk to your Lender Talk to your Lender 3 Explore your Options 4 Contact a Trusted Third Party for Advice - MABS (Money

More information

BOOKKEEPING SYSTEMS INTRODUCTION TO FACTORING. Paper 002-038 CONTENTS

BOOKKEEPING SYSTEMS INTRODUCTION TO FACTORING. Paper 002-038 CONTENTS BOOKKEEPING SYSTEMS INTRODUCTION TO FACTORING CONTENTS Page 1. What Is Factoring?... 2 2. Factoring Overview... 2 3. How Does Factoring Work?... 2 4. Alternative Method Of Factoring... 3 5. Benefits Of

More information

Better Business Finance

Better Business Finance Better Business Finance Alternative sources of finance There are a wide range of financial products now available to help businesses access the investment needed to grow and thrive. This factsheet explains

More information

TAKING THE MYSTERY OUT OF FINANCE

TAKING THE MYSTERY OUT OF FINANCE TAKING THE MYSTERY OUT OF FINANCE Presented By: Eva Brown, Director of Access to Capital 312 853 3477 x 560 OBJECTIVES Determine how much money you need to start/expand your business. Determine your ability

More information

Business Plan Template

Business Plan Template Business Plan Template Why have a Business Plan? The real value of your business plan is to empower you in a systematic way to comprehend the dynamics of your business. It enables you to review your business

More information

PREMIER OIL PLC 5% BONDS DUE 2020

PREMIER OIL PLC 5% BONDS DUE 2020 INFORMATION BOOKLET 25 November 2013 PREMIER OIL PLC 5% BONDS DUE 2020 Joint Lead Managers Barclays Canaccord Genuity Limited Lloyds Bank Authorised Offerors Barclays Stockbrokers Brown Shipley Canaccord

More information

When Finances Go Wrong - Debt

When Finances Go Wrong - Debt When Finances Go Wrong - Debt Very few people now have no debt at all after all a mobile phone contract, or your rent/mortgage are both debts. It becomes an issue for people when they cannot meet the payments

More information

International. Information booklet 16 April 2013. 6.125% Sterling Fixed Rate Bonds Due 2020

International. Information booklet 16 April 2013. 6.125% Sterling Fixed Rate Bonds Due 2020 Information booklet 16 April 2013 International 6.125% Sterling Fixed Rate Bonds Due 2020 Lead Manager and Authorised Offeror Canaccord Genuity Limited Authorised Offerors Any decision to purchase or sell

More information

LINX EDUCATIONAL INSTRUCTOR S GUIDE

LINX EDUCATIONAL INSTRUCTOR S GUIDE EXTRA CREDIT: UNDERSTANDING THE DO S & DON TS OF USING CREDIT TAKING CHARGE OF CREDIT: 10 TIPS TO CREDIT DISCIPLINE Use the following suggestions as guidelines to self-discipline to keep your credit in

More information

Financial. Management FOR A SMALL BUSINESS

Financial. Management FOR A SMALL BUSINESS Financial Management FOR A SMALL BUSINESS Welcome 1. Agenda 2. Ground Rules 3. Introductions FINANCIAL MANAGEMENT 2 Objectives Explain the concept of financial management and its importance to a small

More information

JOINT AND SEVERAL LIABILITY. Partnership responsibilities

JOINT AND SEVERAL LIABILITY. Partnership responsibilities JOINT AND SEVERAL LIABILITY Partnership responsibilities March 2014 Contents Why do I need to know about it? 1 What does Joint and Several Liability mean? 1 How do we open a partnership account? 2 How

More information

CORPORATE FINANCE FINANCIAL INSTITUTIONS ENERGY AND INFRASTRUCTURE. Undertakings. Norton Rose LLP June 2012. PAR-#4041659-v1 1

CORPORATE FINANCE FINANCIAL INSTITUTIONS ENERGY AND INFRASTRUCTURE. Undertakings. Norton Rose LLP June 2012. PAR-#4041659-v1 1 CORPORATE FINANCE FINANCIAL INSTITUTIONS ENERGY AND INFRASTRUCTURE Undertakings Norton Rose LLP June 2012 1 UNDERTAKINGS What is an undertaking? 1 In general terms, an undertaking is simply an enforceable

More information