At least 3 years old that can demonstrate filed accounts for this period and can produce a declaration from a chartered, ACCA accountant that can verify all statements and claims regarding the business.
Revenue-generating with at least fairly consistent income, preferably from long-standing clients with at least once source of recurring or re-billable income. Ideally, this would be billed through a payment platform such as Stripe or WorldPay.
Has fixed assets such as plant machinery, computers, equipment or intellectual property, to a valuation (accounting for depreciation and amortisation) of at least £10,000. This can be any form of fixed asset, such as land, buildings or equipment.
Salaried management whether that be in-house employees or the owner themselves. The management have to be salaried – i.e. not an owner-operated business where the owner does not draw a fair salary for the work that they carry out.
Employees are a vital part of any business. We only consider businesses that employ staff, usually a minimum of 4 employees – although depending on the sector your business is in, we can be flexible.
Customer database including email addresses and contact numbers as a minimum. This can be in a CMS system or a simple Excel spreadsheet, but the business must demonstrate it has a comprehensive database of its clients and customers, that is sanitised regularly.
Cash at bank equivalent to at least 3 months of running losses, or at least £5,000, whichever is higher.
We accept businesses that show losses, low profitability or financial distress such as HMRC debts, difficult landlords or looming creditors, for example.