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What does "best practice" really mean in today's business finance landscape, and why is it more important than ever?

In this episode, David & Trevor explore the principles that should underpin every business finance journey. From understanding a business owner's objectives and financial position to identifying the most suitable funding solutions...more importantly, they examine the process that should be followed to achieve the best possible outcome for UK business owners.

They discuss why the finance process must always start with a comprehensive understanding of the business and its owners. What does "best-fit" finance look like? In their opinion, no finance application should be submitted to a lender without first carrying out a full assessment of the business's financial circumstances.

The conversation also addresses growing concerns within the market that some brokers and lenders may not be adhering to the fundamentals of best practice, potentially leaving business owners exposed to unsuitable options and poor outcomes.

Both highlight the fact that unless effective signposting is maybe available to the qualified and ethical business finance professionals, standards will contniu3d to fall across the industry.

Finally, they explain how business owners can take control of their financial journey by engaging with The Guild of Business Finance Professionals and accessing guidance from professionals committed to delivering best practice, transparency, and best outcomes for the business owners...and lenders!

Whether you're a business owner seeking funding, a finance professional, or simply interested in raising standards within the industry, this episode provides valuable insight into what good practice looks like and why it matters.

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To access our visual channel please click here https://linktr.ee/bfmpodcast

Please subscribe and follow us on LinkedIn, Instagram, YouTube and Twitter/X. Just search for 'Business Finance Matters'.

To listen to the Podcast, all episodes can be found on all the major platforms including Spotify, Apple, Amazon and YouTube and https://bfm.buzzsprout.com/

All comments are welcomed and may be discussed on future episodes.

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In this episode, hosts David and Trevor explore why the lending market is packed with so many different lenders, and why each one operates with its own approach to underwriting and risk.

They discuss the growing challenges business owners face when applying directly to lenders, or working with the wrong brokers, and how this can often create more setbacks than solutions.

For example, some businesses, such as those owned by non-homeowners, may struggle to access certain funding options simply because not all lenders are willing to support them.

David and Trevor break down how lenders assess risk, what “responsible lending” really looks like, and why the market is becoming increasingly risk-averse as confidence drops in an uncertain economy.

With insights from a members of the Guild of Business Finance Professionals, the episode offers a clearer understanding of lender expectations, decision-making, and realistic timescales. They also highlight why knowing when to say no to debt is just as important as securing funding, and why applications should never be submitted if they are unsuitable or unaffordable.

Finally, they discuss how early-stage lending decisions are shaped by key factors, and why greater transparency from lenders could lead to better outcomes for both businesses and the finance industry.

Support the show

To access our visual channel please click here https://linktr.ee/bfmpodcast

Please subscribe and follow us on LinkedIn, Instagram, YouTube and Twitter/X. Just search for 'Business Finance Matters'.

To listen to the Podcast, all episodes can be found on all the major platforms including Spotify, Apple, Amazon and YouTube and https://bfm.buzzsprout.com/

All comments are welcomed and may be discussed on future episodes.

Thanks for listening

Send us Fan Mail

Starting a business has never been more challenging. From an initial idea to an ambitious start up, the country continues to try and promote a nation that is wanting more entrepreneurs and small business owners. But turning an idea into a sustainable business often comes down to one critical factor, funding.

In this episode, David & Trevor explore how new and growing businesses can find the right type of finance without overpaying or choosing the wrong option. Raising capital is not just about securing money, it is about finding finance that fits the business properly and can support it’s early stages of growth.

They discuss why many new business owners still lack awareness of the different types of debt finance available to them, including Director loans such as those offered by the British Business Bank and initiatives like the Growth Guarantee Scheme. Understanding these options together with who the best lenders are, can make a significant difference when considering the best-fit funding strategy.

They also talk about the importance of start up capital. Ideally, many early costs should be covered by funds introduced by the business owners themselves, or through support from friends and family maybe. Having some initial capital in place can strengthen a business before seeking external debt finance.

A realistic and well structured business plan is also essential. It should clearly outline capital needs, projected cash flow, and the overall financial path of the business. With a strong plan in hand, the next step is presenting it to experienced business finance professionals who can help guide the process.

Unfortunately, signposting across the finance landscape remains poor for both start ups and established businesses. That is why seeking guidance from a member of The Guild of Finance Professionals can be invaluable. Before searching online, approaching lenders directly, or rushing into a funding decision, getting independent guidance first could save time, money, and costly mistakes.

Do not search the internet. Do not contact a lender directly. Do not pass GO without contacting a Guild member at the very least.

If you are starting a business, or looking to grow one, this episode highlights the steps to take before pursuing finance and why speaking to the right professionals early can make all the difference.

Support the show

To access our visual channel please click here https://youtu.be/DyjKdnXoCv4?si=a0aCtHmhuPNQmkjr

Please subscribe and follow us on LinkedIn, Instagram, YouTube and Twitter/X. Just search for 'Business Finance Matters'.

To listen to the Podcast, all episodes can be found on all the major platforms including Spotify, Apple, Amazon and YouTube and https://bfm.buzzsprout.com/

All comments are welcomed and may be discussed on future episodes.

Thanks for listening