RE: opening a nursery FINANCES
by: newsetting - 20-07-08 20:39
Long story with the finance! Basically I went to all the high street banks and got turned down pretty much straight away. I had no previous childcare experience BUT i was a qualified accountant and worked as a Financial Analyst for a global company! They didnt really think this was good enough to run my own business!
So, in the end I remortgaged my flat and my parents (bless them) remortgaged their house so I could raise the money.
Also nowdays, the credit crunch means that its even harder to raise cash especially from high st banks and finance companies. It may be worth looking at other forms of finance such as Business Angels, grants (Princes Trust) or going into partnership with someone who does have funds (or access to them)
Wish I could be more positive, but it is so hard to get finance now, even if you do the best business plan in the world. Banks just arent willing to take risk