Keep Track of Expenses
With a very new, fledgeling business, there are many little rules and ideas that should be adhered to along the way. Formulating a business plan is a major one. If money is to be acquired either via a grant, or loan, then the lender will need to see that business plan – a year, five year and ten-year projections will need to make sense. The ideas behind the product and sustainability are essential. Showing clearly how the product or service has been financed so far will indicate whether the loan or grant will be used to boost and grow the...