Small Business Lifestyle

Kevin Higgins is the executive director at Vantage Performance, and he is passionate about creating more resilient businesses. When it comes to the ins and outs of financing, Kevin is an expert and in this episode of Flying Solo, he shares all the tips you need to know to help you put your business in the best position to access finance. He understands that one of the main challenges in securing funding is the lack of clear visibility and timely information provided to funders. Kevin shares invaluable insights on managing working capital, the role of banks in funding peaks and troughs, and the importance of accurate and well-articulated financial forecasting. Key topics Importance of a Secure Balance Sheet - Funders rely less on personal assets with a secure balance sheet - Be cautious when giving personal guarantees - Negotiate to remove personal guarantees if possible Managing Working Capital and Cash Flow - Working capital includes debtors, creditors, and stock - Banks evaluate debt collection efficiency a