• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

funding for my business(restaurant)

Extracts from this document...

Introduction

Funding for my restaurant To raise cash to start up my restaurant I could use my savings but I can't do this as I do not have that much money saved in my bank account, I could also borrow money of my family and friends but they do not have that sort of money to lend me, I could sell some of my personal items but I don't really want to do this. I could also get a bank loan or I could use a funding agencies. Funding is money that is given to help start up a business in my case a restaurant most funding come from the government or local private companies whom hope to get a return on there investment. ...read more.

Middle

Hsbc interest rates Loan amount Interest rate How much interst im paying back �1,000 14.1% �141 �5,000 11.6% �699 �10,000 10% �1000 �15,000 9.6% �14400 �20,000 9.1% �18200 �25,000 9.1% �22750 Natwest do small business loans they let you borrow between �1,000 and �15,000, its quick and easy to arrange, you can choose to repay the loan over 12 months to 10 years. But if you choose to pay back the loan over 12 months the interest rates go up which means if I decide to pay back the loan over a 5 yrs im going to be paying more money back. Natwest interest rates Loan amount Interest rate How much interst im paying back �1000 20.7% �105.56 �3000 15.9% �246 �5000 7.8% �206.92 �10,000 7.3% �386.96 I also did some research on different funding opportunities in Canterbury. ...read more.

Conclusion

I have decided I'm going to use a bank loan, I have decided to use HSBC this is because HSBC do small business loans which lets you borrow between �1,000 and �25,000 and the interest rates are fixed for life of the loan which means I will know exactly how I have to pay back each month without the fear of the interest rates going up and theres the chose of paying the loan back quickly or paying the loan back slowly. I didn't go for the natwest bank loan because the interest rates are not fixed which means I could end up paying back more then what I expected each month and if I wanted to pay the loan back over 5yr I will have to pay more interest because the interest rates increase if you choose to pay your loan back slowly. Chloe Morgan ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Economy & Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Economy & Economics essays

  1. analysis of hsbc

    In other words, if the quantity of money in circulation grows faster than the real GNP described as unproductive expansion, inflation is most likely to follow. It will affect HSBC because lending becomes very expensive. The bank will lose earnings because activities will be reduced.

  2. REGULATION OF BUSINESS

    the owners of the RECs, then, in January 1999, they merged the Office of Electricity Regulation and the Office of Gas Regulation into only one which was called Ofgem and which became the appointed new regulator. As Parker (1999) explains, several other official recommendations were taken and put into practice

  1. Changes in the business environment and their impacts on business strategies.

    This, in turn increased energy costs as well as the cost of many oil-based raw materials such as plastics and synthetic fibres. This contributed significantly to a world economic recession, and it all serves to demonstrate how dramatic economic change can upset the traditional structures and balances in the world business environment.

  2. Global Business Plan.

    customers requirements through measurable quality improvement, cost reduction, and on time delivery of products and services, while achieving profitable growth and increasing share holder value." Through strong leadership backed by decades of solid experience, A, K, L, and R Air Conditions continues to lead the world in delivering quality, innovations, and automotive solutions.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work