Financing a franchise, advice and articles
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This section covers the financial aspects of setting up a franchise. There are two main categories which have been covered, which consist of “Don’t Pay Too Much Tax” and “How to Present a Request for Finance to your Bank”.
Andrew Small from Franaccounts provides tips on making sure that you don’t pay too much tax and then how to present to a bank a request for finance which details the criteria that the banks will use. This will help both the franchisors and franchisees as it will explain the different levels of tax and also how to prepare documents for requesting finance from the bank.
“Don’t Pay Too Much Tax” is designed to explain to potential franchisees the different levels of tax and national insurance pay, if the individual has both a self employed and employed job. This page also provides advice to make sure that the individual is not overtaxed and if they are how to claim back the money. The page then explains the different Class contributions, what happens at the end of the year and also about contributions refunds.
“How to Present a Request for Finance to your Bank” prepares you for all the questions that the bank could possibly ask so that you are prepared. The questions have been broken down into different criteria to help you understand what the bank will ask you to understand your situation. These criteria include “The Client”, “The Amount”, “Repayment”, “Security”, “Remuneration for the bank” and “General”.
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