Heard The Song ‘ You’ve Got What It Takes’? What About Your Business Financial Intelligence
OVERVIEW – Information on business financing in Canada . Do you as business owner/manager have what it takes when it comes to financial intelligence and accessing loans and biz capital
Business financing in Canada. When it comes to loans and access to ‘ Biz’ capital do you as a Canadian business owner or financial manager have what it takes? And, a better question, feeling somewhat alone? Turns out you’re not that alone! Let’s dig in.
We were listening to the radio the other day and heard the old song by the DAVE CLARK FIVE called YOU’VE GOT WHAT IT TAKES It starts out at 100 miles per hour and doesnt give up. That got us to thinking about whether our clients feel they ‘ have what it takes’ when it comes to business finance.
Safe to say that financial skills are just one of the prerequisites of the business owner/manager in the SME sector in Canada. Those larger public and private corporations have accountants, Canadian business financing advisors, consultants, etc coming out their ears. They need less help we would say than your firm.
And are you alone in wondering whether it’s just your firm that is experiencing financial challenges? Recently we participated in a CEO SUMMIT via BDC Canadian business owners in the SME sector indicated that 62% of them found access to financing a combination of either being very difficult or somewhat difficult. 1% of all businesses surveyed indicated that capital was easy to access! We haven’t met that man or lady yet, yet but we’re hoping he will call and share his or her secrets
Other revealing tidbits
in the survey ? the amount of capital and rates charged were top of mind for the business owner/financial manager. They also indicated they were very open to having an independent financial partner provide recommendations and advice based on their own experience or offerings.
What turned business off was when they were forced to address issues of loss of equity control and dilution. We’ve preached that all along – simply getting the right amount and type of debt, whether it is loans or asset monetization for cash flow and working capital.
Are you the bottom half or top half? By that we mean that the survey indicated that almost 50% of Canadian business respondents considered themselves in growth mode. We love growth financing, and constantly recommend to clients solutions such as follows:
Canadian Chartered bank Commercial credit facilities
Non bank asset based lines of credit
Tax credit monetization (SRED and FILM)
Sale leaseback strategies
Restructuring scenarios – informal, or shall we say … otherwise!
Financial intelligence in your business can be easy or complex. Fundamentally you want to be able to use information in your firm to make
Good financing decisions around resources, assets, growth, etc. You’ve probably already got a toolbox of information available, just use it.
And if you don’t feel you’re cleared for take off
seek out and speak to a trusted, credible and experienced Canadian business financing advisor with a solid track record in assisting firms such as yours with growth and operational financing.
Author: Stan Prokop – founder of 7 Park Avenue Financial
Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 10 years – has completed in excess of 90 Million $$ of financing for Canadian corporations . Core competancies include receivables financing, asset based lending, working capital, equipment finance, franchise finance and tax credit financing.
Info re: Canadian business financing & contact details :
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Phone = 905 302 4171
Email = email@example.com
7 Park Avenue Financial
Canadian Business Financing