Small businesses have a range of options they can turn to offer financial support in order to get operations off the ground.
That is the view of leading financial experts at Lloyds TSB, who say the opportunities to borrow have multiplied in recent years, offering competitive rates despite the recent upward trajectory of the base rate.
Stuart Wilson, senior manager of lending with the firm, said there were "various options" which could be pursued, with both high street lenders and the government in a position to help.
Mr Wilson commented: "All the lending starts from £1000, so basically anything going up from there to about £25,000, is probably the majority of the smaller ticket lending."
"The option as well is looking at some government-based lending. So the Small Firms Loan Guarantee is probably the key government related loan offering that we'd talk to customers about."
Establishing a solid financial footing for a new business is essential to getting new enterprises off the ground, with entrepreneurs needing to incorporate a range of measures.
As well as capital and day-to-day cashflow - the key starting point for any firm - it is also advisable to examine contingency plans, with some suggesting the use of business insurance.
The recent floods which devastated areas in the Midlands and the north of England were a good example of unforeseeable effects which might hamper prosperity, with those firms without commercial insurance likely to see bills escalating.
Simply Business offers a range of finance options for small and medium sized businesses.Compare finance quotes now
