saint
Member
Registered: 21st Oct 01
Location: Edinburgh
User status: Offline
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Im looking to start a business on the net, selling clothing (not telling u what type).
For a bank to give you a loan, do you need to show them market research, will a bank give you a loan if you've only got an amazing business plan and marketing ideas, im in 3rd year at uni just now. Also, how much would they give you when your just starting out?
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Tom
Member
Registered: 3rd Apr 02
Location: Wirral, Merseyside
User status: Offline
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U probably need to prove u have done some research on the market, industry, as well as other normal business plan type info such as sales forecasting for x amount of time, running costs (overheads) blah blah blah
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carnoisseurcraig
Member
Registered: 4th Jun 03
Location: Inverness
User status: Offline
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you have to do loads of research, not just to get the loan but its for your own good. No use opening up a burgershop next door to burger king.
You need to know your competition, and you gotta have summin that will set you apart from the competition.
The competition i have up in inverness is very little but i have halfords and autosave.
Now neither have the suppliers i do and i have a vast range of goods compared to them. Plus i do mail order.
Only go into business if you know what you are doing. eg, accounts, business law etc. Its no use just thinking you can do it, you gotta know how to do it.
My advice is LOADS of homework.
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