Easy Answers To The Most Common Financial Questions | Personal Finance Views

Friday, June 13, 2014

Easy Answers To The Most Common Financial Questions

Today there is a good service that can help you to deal with your finance. If you are a businessman or just cannot manage your personal budget it is always better not to be ashamed and ask for help. Just to make this topic clearer we have chosen the most frequently asked questions and tried to make easy and clear answers.

Financial Questions

So now you can find a solution to your possible problems in the following tips.

1. I cannot manage my finance and pay my vendors on time.

It is the main thing in your business to calculate your cash flow and to understand how much you earn and spend. You can stay without clients for a short period, but with no capital it is impossible. That is why you should always check if your calculations are right, as well as make enough savings ahead to return taken money. Also you should pay more attention to the terms and conditions as you have to avoid additional fees and future problems with financial services.

2. What is a Patent Box?

It is a new preferential tax plan starting from 1st April 2013 that UK companies will have to pay. According to it the reduced rate on qualifying Patent related income that includes earnings from sales and licensed fee profit is 10%.

3. My application for a loan was rejected by my bank.

At first you must find the reason you were not given a loan. It might be a level of your salary that does not correspond to the requirements, or just a low credit score. There are many financial services that don’t have so strong demands and can provide their help to you. These services match the potential borrowers who need money with the direct loan lenders who want to invest. So with the help of online service you can easily apply for a loan and choose the most appropriate lender with terms and conditions.

4. Can I get a grant for my business?

Many people would like to have some extra money for developing their businesses, but they do not want to borrow. So they can find some special purpose funding union and try to convince its specialists that their business is really worth it.

5. What records do I need to make in the beginning of my own business?

I think the best variant will be to contact some local accountant and ask for a free first appointment. If you have a clear understanding of making a balance after this quick help, you may lead your business yourself. But you also can use a service of this accountant to have your budget been done well.

6. How to increase equity investment for my business?

At first you must understand what your business lacks. You might need a professional investor with contacts and expertise, or just some extra money to make your business grow. All these details can influence on the type of service you need.

7. What should I do if I missed a repayment date?

According to the current law if you missed your repayment, you would be charged additional fees and have a higher interest rate. Also this information will be featured in your credit history and can have a bad impact on your future financial life. That is why it is always very important to understand all terms and conditions when you sign up the agreement with a lender.

We hope this answers help you in your understanding of managing your finance and you will make thoughtful decisions in future.

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