May 24, 2019 01:32 pm
May 23, 2019 09:41 am
One of the Biggest Challenges to any New Start Business is having enough money to invest in the new venture from the outset.
The old adage of “Cash is King” has never been more relevant.
However, for the smarter “would be Richard Branson’s” help is at hand.
Did you know that, according to data from StartUp Britain (a Government funded initiative which tours the United Kingdom in a bus, giving advice to budding entrepreneurs), more than 600,000 people started their own new company in 2016!
That’s more than 80 New Start Companies opening for Business every 60 minutes!
Document XL has recently launched its own initiative to help new start-ups to raise much needed capital to help get them off the ground with its NewBiz Buddy Funding scheme.
Their NewBiz Buddy Funding scheme, backed by Xerox Finance Limited, offers most New Start Companies up to £5,000 + vat to invest in Back Office essentials such as Office Equipment and Business technology.
This Business Finance is then repaid by the new start company over a 3 year period, at very low rates of interest.
In a recent seminar, Mr Dobson advised local entrepreneurs that most New Start-ups are forced to spend their valuable initial funds on Office equipment, Office Stationery and other digital technology as they can’t secure funding for these essentials until they have a minimum of 3 years proven trading history.
Then once their initial funds have been spent on things like new Computers, Printers, Office Photocopiers, Software and office furniture, they have little left to invest in Marketing and growing their business further.
This is where clever planning is essential to the survival of any new company
Document XL can provide new Start companies with additional funding (up to £5,000 + vat) to invest in office equipment (eg our top Manchester office printers and products), furniture and other office essentials, whilst freeing up their main capital reserves to invest in vehicles, in networking and in other marketing activities.
Here’s how their NewBiz Buddy scheme works:
Document XL has put together a selection of New Starter packs of modern Business Essentials.
This includes the top 40 items needed by a young, new start business and the pack can be personalised, for those young business entrepreneurs who prefer to create their own list of Office Essentials.
Their basic NewBiz Starter pack includes:
They also offer a NewBiz Technology Pack which includes items like:
The value of these NewBiz Starter Packs amounts to around £5,000.00 + vat and the new business has the option to spread the cost of these Office Essentials over a 3 year period.
Here’s an example of how this works: A New Social Media Company, let’s call them Newco Limited in Oldham.
They need the following items to get started in their new rented offices:
1 x A4/ A3 Xerox Printer 7225i Colour Copier- printer-scanner
2 x New 6’ Desks with pedestals & Director’s chairs.
1 x New 4 drawer filing cabinets
2 x New MacBook Pro computers
1 x Stationery pack (Including items like: Pens – blue, black, red, Highlighter, Permanent marker (Texta / Sharpie), Guillotine, Calculator, Printer toner, envelopes, postage stamps, calendar, wall planner etc.
Rather than taking out a Bank Loan, or borrowing money from friends and family, and rather than using up all their financial reserves on these items, they can apply for a Document XL NewBiz Buddy Finance lease, at the following fixed costs
Initial Deposit of £884.00 + vat
Followed by 12 fixed quarterly payments of £442.00 + vat each
The total amount to be repaid over the 3 year period is £6,188.00 + vat. This is far less than most banks would charge and leaves the New Start-up business with access to funding from their bank, if required at a later stage
The main benefits to the new business are clear. Immediate improved Cash Flow for the young business whilst, at the same time, the NewBiz Buddy Finance scheme helps the New Start Company build a proven credit history, which could help secure additional funding in future, as and when the business expands.
For more details about the Document XL NewBiz Buddy Finance plan, or for a personalised illustration,
To learn more about the benefits of leasing a xerox business machine here.
Customers searching for value for money, competitive funding with an ethical, responsible lender which offers ongoing support as and when they need it should choose Document XL and Xerox Finance as we can deliver all of these important factors with confidence.
We have the experience needed to support your organisation whether you’re located in Leeds (why supply copiers in Leeds) or Manchester, Castleton or Middleton, we can support your company anywhere in the UK, across Europe and indeed throughout the world.
To see how we can help you and your business, then give us a call on 08456 448 600.
May 24, 2019 01:32 pm
May 23, 2019 09:41 am