The Business Rates Appeal Consultation for your business

To maintain a fair trade, the Valuation Office Agency is rating properties in Scotland, Wales, and England. While this is being called an assurance of good setup, it has some bad news for many small to medium-sized businesses. If the rates of the properties are made high, then tax will be paid more. If you think of it, there are numerous businesses in the whole United Kingdom and such decisions are not in favor of them at a level. However, amidst this whole chaos of economy, there is a happy tiding to such parties that now you can challenge the decision passed on your property. But it is advised that before you take such step get a business rate appeals consultation from an organization like CNG business services.

How to demand a fair price?

The owners of these businesses can ask for a fair rate of property in three simple steps on their own or they can reach companies like CNG business services for Business Rates Appeals Consultations who are always ready to help in such instances.

The Three-Step Procedure for this

There is a three-step procedure called “check, challenge, and appeal” that has to be followed.

1. Under the first step of “check”, the value officer will check the kind of business that you do. He would also want to know the trades and types of goods being sold or whatever. As we all know there are different types of taxes on different kinds of goods, for example, liquor taxes will be different compared to beverages. Under this stage, only this much is enquired about. The Value officer takes at least 3 months to respond to the request and after the response, you will have only 4 months to go for the challenging part. 

2. The next step is called “challenge” under which you can challenge as to why the rates are too high by providing the righteous justification to your opinion along with evidence. The pieces of evidence may include your receipts, your current rent, the location you have your business in (value of a location outside the city will be lesser), etc. The value officer will make a decision about what to do with your property. If that decision is agreeable to you then fine, otherwise, you can appeal for amendments, changes, etc. The VO has then 18 months to response, long run, right?

3. The final step is called “appeal” that requires a fee about 100-300 Ponds which is refundable if what you claim is proved true and accepted by the Value Officer. In a case where it is found that the request/ query was not right then a fine of 500 ponds can also be charged. But one should not worry more if the claim is true and hence a piece of advice to those who think they can get lesser values by playing a little dishonest, please don’t.

This whole process may seem quite hectic and complicated, so, what if someone else does that for you? Well, here in CNG business services we can do a business rate appeal for you. You can contact us or come to us directly anytime to get a business rate appeal consultation and we will be happy to do that for you.

Business Cash Advance

Everyone and anyone who dreams of becoming a successful businessman always dreams of becoming the best at it. Nobody wants to become an average simply because most already are. But in this money-minded era, how is this possible that a small business can afford an easy loan that can be paid back without losing peaceful sleep in the process? Well, we assure you after reading this article you will get a good business loan and you won’t lose your peace either. Here next we are going to talk about business cash advance.

A business cash advance is unlike any other form of loan available in the market. In Business cash advance, the lender lends you money for a certain period of time (that is your deadline) before which you have to repay the sum but here is a twist, you don’t directly pay money through installments or other options. You shall pay back the loan through the sales that you have made that is, a business cash advance is directly depended on the sales of your firm. The money you pay back from time to time is directly proportional to the sales you have made.

Understanding business cash advance

Let us make you understand the concept of business cash advance with an example. Suppose that the lender lends you a sum of £1500 with an interest rate of 10% and you are given a deadline of 8 months (may not be applicable in some scenarios). Now in normal loan lending system for as much time as you keep the money you need to keep paying the interest on a monthly base through installments. In business cash advance, you do not payback on a regular basis; you are offered a flexible return. Suppose on the first day you make a sale of £300, 10% from this £300 (£30) will be deducted and given to the lender. You will keep the rest £270. On the second day, you make a sale of £278, 10%from this £278 (£27.8) will be deducted and given to them and so on.

On each day your sale won’t be the same, hence the amount you pay them back will also not be the same. You will pay from whatever you sale in the market so sale more and return more.

How to check if you are eligible for a business cash advance?

You are required to be an established firm for the period of time as the lender’s terms and services proposed. Every good businessman knows the position of their business that how it’s going to make more profit. If you think you can make a good profit in the future but need a little “easy go” kick start then Business cash advance should be ideal for you. Your sales should be good and should be matching the criteria of the lender. If you are a firm that uses debit/ credit cards for pavements then this should be easy for you as you can make a record of the sales.

The lender has a right to check your sales so you should be open to that too. A business cash advance is a simple medium of growth for small and medium-sized businesses in the world. Small restaurants, beauty parlors, growing supermarket stores or any other vocational business that is fulfilling the criteria, are most benefitted.

Role of the lender and borrower in business cash advance

The lending companies usually maintain an eligibility criterion for the lending of loans to seeking businesses. Different lending companies have different criteria so a borrower should check for the one that suits best for his/ her needs. The lender has a right to see the records of your sales so as to maintain trust in your firm that it can return the amount within the deadline (if set). The lender takes pavements from the fixed proportional of your sale only (that is the whole idea). The lender can decline your future loan requests if you do not maintain the criteria for the current or last loan lent to you. The borrower should only request the amount that he/ she are confident to return.

In a business cash advance, there is nothing like you are in a debt or something because at the end month you are paying honest repayments.

What if you suffer a huge loss?

In a business cash advance, you pay from what you sale so nobody will come and ask you to pay back until you start making money (that is why some lenders set a deadline). You need not worry, just improve your sales and gradually pay back the loan you lent.  If you are suffering from a natural calamity then many lenders offer financial help that you can use to stand again. And when you start making money again, start paying back. This is the main benefit of having a loan lent as a business cash advance.

As said above there is nothing like you are in debt or something so do not be worried about your status that much. No lender shall ask you to access your bank accounts to pay them there and then. Your interest is a fixed amount of money that you have to pay; it will not increase like the regular loans you take.

A business cash advance is an effective and efficient loaning method that can be used to get a good sum of money to boost your business. Unlike traditional loaning methods where the interests as you keep the money for long duration business cash advance ask for a fixed amount of money back. It is good for those firms who dream of making their small firms big. The more the sales your business does the sooner you pay back the loan you lent, that’s it. A business cash advance is not a new concept in the market, it is known for a good time. It goes by another name called “merchant cash advance” where the merchant is anyone who is a businessman or an authority of a business responsible for these things.

Business Cash Advance – Is It Worth The Hype?

Individuals thinking about starting a new business are often seen debating between whether they should get a bank loan or Business Cash Advance. However, most of them are seen inclining towards the latter in most of the cases. If you are also planning to start a business in the near future and want financial assistance, then have a look at the enormous amount of benefits that Business Cash Advance can provide to you.

 

1. Banks rely on established businesses and grant them loans in no time. However, if you are new in the market, Business Cash Advance is a better option because companies that give business cash advance give it only to those companies, in which they see some potential. And, if you are able to convince them with your business plan, you can get advance in no time.
2. For bank loans, documentations that you need to take to the bank include stocks, bonds, personal assets, guarantees, equipment and real estate that you have. Based on that, the loan amount to be sanctioned is decided. If you do not have sufficient assets, banks will straightaway say No to you. On the contrary, you don’t need any collateral in case of Business Cash Advance.
3. In case of bank loan, you also need to invest a set amount of percentage into your business and the remaining is provided by the bank. However, in case of Business Cash Advance, you can get the entire amount sanctioned because the companies understand that starting a business requires a lot of money, and not everybody is able to make the investment at their own end. After all, why would someone take a loan if they have the money themselves?
4. Approval rate in case of bank loan application is also very low. However, in case of Business Cash Advance, the initial approval is obtained within 24 to 28 hours of application, and the amount gets transferred to your account within a week.
5. On top of all these, as you do not submit any collateral for getting Business Cash Advance, there are no chances of losing it to the bank. However, if you have a bank loan and you fail to repay the initial amount, your collateral is sold by the bank in order to get back the sanctioned amount of money.

So, what do you think? Which is better – bank loan or Business Cash Advance? Smart businessmen will always pick the second option!

Business Cash Advance UK Vs. Bank Loans – Which is Better?

Are you planning on starting a new business and want to know about the best way to get some extra financial assistance? If yes, then you have picked the perfect article to read. Here, we are going to discuss about the top difference between Business Cash Advance UK and bank loans. Hopefully, by the end of all the discussion and comparisons, you will be able to make the right choice for yourself.

1. Processing Times – In case of banks, the time consumed for the preliminary checking is way longer. Banks will make sure that they thoroughly check everything about your business. And, if it is a new one, they will hesitate to grant a loan unless they have an asset given to them as security. Surprisingly, they grant loans to established businesses very easily. However, in case of Business Cash Advance UK, the process is a bit different. They grant unsecured loans to the business, in which they see some scope or growth prospects. Also, the processing time for getting the final approval is merely 72 hours and the applicant can get the approved amount within as less as 14 days. You can’t ever imagine such speedier processing in case of bank loans!
2. Prerequisites – Applying for a bank loans requires you to have the documentation such as business plan, financial statements, repayment plan, and projections for business, personal guarantees, stocks/bonds, real estate, hard goods as equipment and other personal assets. On the contrary, applying for Business Cash Advance UK requires no such formalities.
3. Payment Plans – In case of bank loans, you are given a set date, on which you are supposed to pay the interest on the loaned amount. In case you fail to do so, you are obliged to pay the penalties. However, in case of business cash advance, you are not pressurized to make monthly payments. There are some companies such as CNG Business Services, which allow their customers to make the payment when they get paid. Moreover, there are no repayment penalties and monthly debit/standing orders.
4. Approval Rate – Approval rate of Business Cash Advance is nearly 70% whereas that of bank loans depends on how many assets you have and how progressive your business seems to the financial institutions.

So, what do you think? What will be the best option for your yet-to-be launched business? Business Cash Advance UK or Bank Loan? Choice is yours!