The rewards of developing and expanding a new business are tremendous if you get it right.
Jason Nickels and Steven Waters talked to their bank at an early stage, seeking advice and explanation about the financial issues they faced.
This was uncharted territory, so realistic trading projections and understanding the risks involved were absolutely key to the project’s success.
We feel that knowing and understanding our customers’ aspirations is key to helping their business succeed. And it is vitally important to have the right financial structure and bank services in place to turn the dream into reality.
In this case, a flexible business loan enabled additional cash drawings to be made during the construction of the new premises, maximising the opportunities that arose in the development stage.
A proper business plan was created from the outset and, more importantly, kept to.
By keeping in close contact with their agricultural manager, the partners were able to adapt support to their changing needs.
It should be recognised that these sources of help are really intangible partners in the business and have much to offer.
It is very rewarding to see new people setting out in food production.
The combination of producing quality products and having a really effective system to deliver them to the marketplace makes this business stand out.
For more on how to develop your business to its full potential, speak to your local NatWest Agricultural Manager, or call 01332 222 888