Financials can be easy !

[peterjhale]

Yes, getting finances together can be tricky.

Post all you questions on forecasting your profits or how to undertake financial techniques here

[Sister I peace]

Hello this is my first time to this site. I am a herbalist and i have a lot of differnt concerns. Most places that lend money or people who lend are not looking to find alternative health solutions. I have been having excellent results and knowing the medical side of the business for being a nurse for 20 years, it is difficult to keep running out of products and therefore losing repeat customers. Help. I am located in Jamaica. I use local herbs, and I use two imported products. any suggestions>
sister I peace

[peterjhale]

Hi and welcome aboard

I wondered if you could negotiate extended credit terms with your suppliers at all so you have stock on hand but don't have to pay for a while. Or could you get them on sales or return?

Of course the other way is to buy some stock but weigh up the cost of holding stock and tieing up your cash

[inbakumar]

Sister I Peace, welcome to the board. I fully understand your working capital finance issue. Peter's suggestion of trying to get extended credit terms is a good one. In UK there are a few ways of tackling such a problem but I am afraid that they may not be possible in Jamaica. Also I get the feeling the amount you are looking to raise is relatively small.

The other best thing to do is to release the capital tied-up in other assets of your business by way of a 'sale and leaseback'. Also be persistent with your bank manager to give you a term-loan or an overdraft facility. If you need help with preparing a business plan then Peter is your man.

Regards,

Joel
www.babylonbusinessfinance.com

[peterjhale]

Hi Joel

Thanks for the advice and kind comments