Diversify Your Business Finance

Introduction
The government has announced a new initiative to diversify business finance, which are led by industry experts in the UK from both the business and finance.
British companies still rely heavily on bank loans to finance their activities, although there are many alternative sources of funding available to them to meet today's evolving market.
The government wants to make sure the light of recent and ongoing reforms in the banking sector, the flow of capital for companies maintained. Other sources of funding will be critical to help companies provide the broadest economic growth in the UK economy needs.
The panel will seek to establish a framework for alternative sources of funding through collaboration with companies and business associations investors to coordinate the financial institutions and providers of alternative sources of financing and facilitating the availability of financing that businesses need.
Bank loans
Though it is an increase in new loans was included major banks this year, many companies still dissatisfied with levels of bank loans and how they were treated by their banks.

Criteria of the credit crisis, the non-renewal of overdraft facilities and poor communication from banks are cited achievement of common problems of the company as a result of their fundraising goals difficult.
Without the funding they need, the British company is struggling to survive and grow, and so the British economy the same. That is why the government, increasing not only the introduction of measures to encourage bank lending, but will also promote competition to the financial market as possible. A wide range of alternative sources of finance for UK businesses
Alternative funding
There is already a wide range of alternative sources of funding that are the company.
One of the biggest obstacles to the increased use of these funding sources is simply the general consciousness. New and emerging providers of other financial products do not have the infrastructure sector, which makes it an efficient and effective distribution of their products.
The other important factor is that many owners and managers of small and medium enterprises, which are the backbone of the UK economy, are not aware of the range of alternative funding available and where to find them.
New methods of communication are needed, and it is hoped that this will be one of the main objectives of the initiative of the government.
Invoice Finance
Invoice Finance is one of the most popular options in the portfolio of alternative finance and has grown considerably over the last fifteen years, from about 13,000 businesses to use the UK to more than 50,000 customers today.
This method is extremely flexible business financing cash advances against unpaid sales invoices. There are variations in the invoice finance family of products, invoice factoring and invoice discounting involves.
Credit institutions in the bill will advance up to 95% of a company's invoices unpaid sales and use the sales ledger safe under assignment of the bill and if the debt held by these students.
If the invoice is paid by the client company, the invoice finance company will pay the balance of the bill, which was not funded after the deduction of expenses. It has progressed normally a fee for the installation and an interest in the amount of resources.
One of the main benefits of invoice finance is that to increase the installation, as the company grows, so actually a very effective way to fund working capital.

The Power of Saying No in the Right Way

Klydi Heywood

I believe the root word of business is busy. In order to be a good business professional, we must push ourselves to our limits and do our absolute best in everything. But it is this goal that is causing me to slowly lose my mind.

I found an article on Forbes.com that had valuable information on how and when to simply say “no.”

In the article, Susan Newman, Ph.D., a social psychologist and the author of The Book of No, says "people need to change their mindset about agreeing to everything.  By saying no, you can focus on your goals."

In order to give 100 percent to projects, we must give ourselves time. When we say no to something that has little or no correlation to do with our long terms goals, we become more effective.

The Forbes article advises to “take time to think before committing to a new project, and before you say no, consider the ramifications.” When we go above and beyond our position, we will get noticed. If this is a reputation you want, then consider carefully every decision until that reputation is built.

One piece of valuable advice I’ve heard from others in the field, and in this article, is to prioritize. If something is going conflicting with a more immediate or important project, state that to your requester and find other options for how you can help or ways the project can still be completed.

“Always try to offer something when you're turning someone down,” the article states.

I hope that this advice will help us all to become better businessmen and businesswomen as we strive to improve the business world.

The Value of Hands-On Learning

Nathan Henshaw
Business Council Member
Senior in Economics and International Business

Last Summer I was able to participate as an intern for the Small Enterprise Education and Development program, commonly known as the SEED program, in Ghana. Prior to leaving I never imagined I would have learned so much through personal experience. I learned several skills and lessons that have been, and will always be, valuable to me personally. However, perhaps the most important skill I was able to develop is my ability to think critically and solve problems. The autonomist nature of the program empowers the interns to take personal ownership of their experience and enables them with a real hands-on learning opportunities. Here are two simple illustrations.

Critical Thinking

One day a man came to my assigned partner and me to ask for a loan. He had some mechanical skills with cars and wanted to start repairing tires and changing oil in a neighboring village. We considered the potential risks and returns from the proposed investment and we visited his village several times to analyze the industry. We made the decision to issue a loan for his business idea. He was able to service several cars each day and paid off his loan within a few months, despite his loan being a 12-month loan. This experience helped me gain confidence that I can analyze real situations and not simply textbook problems.

Problem Solving

Part of the SEED experience is teaching classes. After class one day, I was approached by three men who had started a fish farm together. They had received a loan for approximately $600, between the three of them. This amount of money is nearly twice the average income for a single family in that area because most people live on less than one dollar per day. With some hesitation these men asked if they could speak with me about their loan payments. They explained that their fish farm dried up and they had lost everything. This was a big problem for them and their families.

Nathan Henshaw and a fellow student with some Ghana children
 during their time with the SEED program.

After several days of considering different business ideas and consulting with our professor, we came in contact with a friend who was looking to start a business. He had an idea to have these three men start managing a snail farm for him. They were able to do this and paid off their debt rather rapidly. They also qualified for another loan to grow a pepper farm.

These types of experiences don’t occur in the classroom. However, I know I was prepared to analyze these situations because of the preparation I received from several professors and mentors. I have loved my experience at the Huntsman School of Business — the quality of teaching is exceptional. I enjoy the classroom setting and learning from fellow students and the faculty. I am grateful for hands-on learning opportunities and to be able to put into practice some of the business principles I have learned. I believe the education I received in Ghana last summer was invaluable. 

    

A Professor's Advice to Students: Don't Cheat

Eric Schulz

I received an anonymous letter from a student this week alleging that on the last quiz I gave in class, some students were cheating. Nothing infuriates me more than liars and cheats. 

I know that the Pollyanna world in which I live — where I want to believe that everyone acts with honesty and integrity, and everyone is upfront, truthful and never deceitful — doesn't really exist, but I refuse to believe otherwise. How can one go through life suspicious of everyone and everything?  

At the end of the day, all we have is our integrity, our character, our honor, and our reputation. The temptation to cheat is part of the college experience — but true character is built by resisting the temptation and acting with integrity and honor. Think about it. Is it worth tarnishing your reputation and honor, and having to deal with a guilty conscience, for a few points on a meaningless quiz or test?  Really?

You are here at the University in order to improve your life's lot — to be able to get a better job and have a nicer life than those who did not continue their education.  Don't screw it up by cheating. A stellar reputation and clear conscience is worth much more than a few extra points on an exam or quiz. You'll sleep a lot better at night too.