Open Question: Where can i get funding for a new business? UK?
May 30, 2010 by
Filed under loans
Okay. I have an idea to start up a cleaning business. My company will offer domestic and commercial cleaning, aside other small tasks, locally. My company will use eco-friendly products and recycle where possible.
I have no personal capital, as i am only 20 years old, but have compiled a detailed business plan and strongly believe that this will work. The company will require low start-up funds of £2500 and will initially be ran from home. The costs are for uniform, a website, insurance, supplies and stationary (Letterheads, business cards)
I know my market and predict the company making a profit of around £25k in the first year, rising to £75k by year four.
I would prefer a grant as i don’t want to start business in debt. I have a poor personal credit score. (Defaulted on a bank account and small arrears, my total debt is less than £2000) but if banks offer loans to businesses despite this, then i’d be happy to do so.
I just want to get the business running, i know there is a gap in the market locally and intend to break into it.
My USP is based around trust.
Any views, opinions are welcome, but i do need to work out how to get funding to get the business off the ground.

