Plan C funding

[The Clown Beater]

Seeing as I'm permie scum (plan A failed miserably), Plan B was shot out of the sky by a BIG competitor with a good reputation, I have devised plan C in my commuter sandwich time on First Crapital Disconnect.

Plan C is a short term money spinner relying on the idiocy of middle to lower class England and some large well known and unimportant legal loop holes. Unfortunately it requires some funding to buy some infrastructure, get some legal eagles on the idea, do patent search and applications and some peons to fulfill the administrative portion of the idea (this is not an on-line shop by the way).

Consequentially, has anyone ever approached a bank with a business plan, particularly relying on about £20k of funding? How do you even approach this? Is the bank just going to feck orf with my idea?

[DimPrawn]

Tell me your plan and I might invest.

[Francko]

Consequentially, has anyone ever approached a bank with a business plan, particularly relying on about £20k of funding? How do you even approach this? Is the bank just going to feck orf with my idea?

Just don't mention SKA or search engines.....

[mcquiggd]

Is the 'project' codenamed 'Pakfare', or somthing similar....?

[EqualOpportunities]

Is the 'project' codenamed 'Pakfare', or somthing similar....?

[BlasterBates]

Seeing as I'm permie scum (plan A failed miserably), Plan B was shot out of the sky by a BIG competitor with a good reputation, I have devised plan C in my commuter sandwich time on First Crapital Disconnect.

Plan C is a short term money spinner relying on the idiocy of middle to lower class England and some large well known and unimportant legal loop holes. Unfortunately it requires some funding to buy some infrastructure, get some legal eagles on the idea, do patent search and applications and some peons to fulfill the administrative portion of the idea (this is not an on-line shop by the way).

Consequentially, has anyone ever approached a bank with a business plan, particularly relying on about £20k of funding? How do you even approach this? Is the bank just going to feck orf with my idea?

20K isn't a lot, I would have thought you could get that by subscribing to about ten credit cards


You need to approach the bank with a business plan.

i.e. where your funding is coming from, and projected income, and costs That's the first step.

You'll probably find a book on how to prepare one.

The question here is, how long can you survive on 20K ? sounds like a about 2-3 months.

[milanbenes]

feck's sake you don't have 20k !!!

sounds like you need to concentrate on plan A before going for plan C

Milan.

[DaveB]

Most banks have a small business advisor who will tell you what the bank will want to see before stumping up a business loan. Generally they will want a well put together business plan showing at least 1st year costs, income, profit/loss etc.

[BlasterBates]

The most important thing in your business plan is the market research.

What is your potential market, how do you plan to reach them i.e. advertising etc, and who are your competitors ?

If you're a local business, Plumber etc this is fairly easy, i.e. you stick yourself in the yellow pages and away you go.

As an internet company this could be tricky, especially providing a "radically new service", because no-one is aware of it. You really need to think that through. Maybe engage a spam e-mailing company.

...oh and before you start get some sort of response from potential customers. What you personally think is a fantastic idea might not be.

Oh and by the way you can't patent a legal loophole, and you can't patent a business concept. The only thing that will be protected is the company name and any literature you publish. Your idea will be copied.

[milanbenes]

lol

look at this folks,

all of the arm chair experts crawl out of their shells
to give their impersonations of John Harvey Jones


simple fact is, if you are stuck for 20k (which let's face is it
feck all thse days) then the bank will offer you two solutions,

either a,
. release 20k of equity from your mortgage

or b,
. feck orf


Milan.