Managing your business finances can be daunting and can quickly become stressful if you have debts to deal with. Money management is key to business success, so where can you turn for expert guidance when you are in a sticky situation or just need some advice?
Here, we share some great sites and organisations you can visit for money advice for businesses — check out these recommendations for advice from cash flow management strategies to accessing funding and everything in between.
The Chambers of Commerce
The Chambers of Commerce is a business network across the UK, and you don’t have to be a member to take advantage of some of their monthly events. You can pay a one-off fee to attend a specific regional event or attend their free networking events to build connections with local businesses.
On your regional Chambers of Commerce site, navigate to their events section to see what events are relevant to you. Many Chambers of Commerce host finance workshops and free business advice clinics, which are UK government-backed, so it’s worth getting in touch to learn more and see if you can benefit from upcoming talks or webinars.
High street banks
High street banks are taking it upon themselves to educate businesses on good money management practices. So, whoever you currently bank with, get in touch with them and see what support they offer their business customers.
Barclays, for example, offer businesses free access to their Business Health Hub. The hub is filled with useful resources such as masterclasses on managing cash flow, event recordings and guides on expanding your business internationally or advice on borrowing to grow.
Business Debtline
Business debtline is a debt advice charity, and it’s completely free for UK business owners to use. You can chat through live web chat, call or email to speak with specialist debt advisors to discuss debt management strategies, tips on budgeting, and other general free business debt advice.
The site also has many useful resources to help you plan your budget, advice on business rates, income tax debt, VAT debt, and debt-related legal issues. The charity also shares debt solutions from business insolvency to equity release. So, if you’re looking to speak to an impartial party without judgment, Business Debtline could be a good place to start.
Local growth hubs
Local growth hubs are designed to provide local businesses with support and advice on all business matters, including money help for businesses. From accessing local funding programmes, government schemes and grant funding and helping you with the application process to getting high-growth or startup advice, these hubs are a great place to network with other business owners and gain valuable insights to drive your business forward.
Visit Business Board Network and use your postcode to find your nearest local growth hub.
UK Business forums
With over 250,000 members, UK Business Forums can be a great place to gather the opinions of other business owners. Particularly if you’re looking for those with first-hand experience of some of your problems. Throw out a question anonymously and see the responses come in. Remember, if you’re looking for professional debt advice, you might prefer approaching somewhere like Business Debtline.
Aside from the forum aspect, UK Business Forums has a packed resource centre including advice pieces, inspirational business interviews and stories and useful insights about starting your business.
Lawbite
Legal advice can be pricey, so if you need clarity and would benefit from talking to a legal professional, you can take advantage of Lawbite’s free 15-minute consultation. With no obligation to take it further, this could be enough to give you perspective on your legal issue and peace of mind to seek help elsewhere.
If, after your call, you think you’d benefit from continuing with a Lawbite subscription, plans start at £40 per month. So, it’s relatively affordable for UK small businesses.
Capalona
Although we can’t give you money advice, at Capalona, we can offer you lots of resources about everything related to business loans. We help borrowers understand their finance options and give them a free self-serve platform to find and compare business loans based on their specific requirements.
Our resource hub also offers helpful business insights, from protecting your business against insolvency to money saving tips and everything in between.
If you want to prioritise business growth but lack the necessary funds, we can help you quickly find and compare eligible small business loans. You can use your loan to invest in marketing campaigns, new stock, or upgraded equipment—the choice is yours. Get your free quote today.
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