Businesses in the Wakefield area needing to raise finance require professional advice, which Andrew Wright & Co. can provide. Here are some of the issues you will need to consider...

While many business owners feel confident about presenting a finance proposal to a bank, a surprising number of proposals are actually turned down. Here are some essentials for raising finance:

1. Choose the right financier

Spend time thinking about the most appropriate funding source for the project or objective. Long-term projects are probably not best funded by overdrafts or loans in debt. Learn about the various sources of finance and select those best suited to your purpose. If in doubt, seek our help.

2. Provide the financier with the right information

Often, unsuccessful applicants will complain that the lender did not seem interested in their business, but this is not necessarily the case. More often, it is not because the idea is lacking, or because the bank disapproves of the proposed development. Rather, it is because the proposal is not presented in terms that will appeal to a potential lender.

Make sure that you fully understand the information that the bank wants. This often means much more than simple financial projections.

To have confidence in an enterprise, a financier usually wants to gain an appreciation of the business, the quality and depth of management and the key people involved - and this information should be presented in a suitable way.

3. Take professional advice

It is best to use the services of a professional when preparing and presenting a proposal. We can help you prepare a solid, detailed business plan that will attract financial support, and perhaps identify potential financiers who will meet your needs.

A well-prepared proposal presented to a carefully chosen lending source will have a greater chance of success.

As well as having good contacts in the Wakefield area, at Andrew Wright & Co. we have experience of drafting well-presented proposals that will have the maximum chance of success in raising business finance.

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Andrew Wright & Co., 10 Cliff Parade, Wakefield, West Yorkshire WF1 2TA


In the UK the term accountant is not protected by law, therefore anyone can call themselves an accountant. Being an ACCA member firm means that you can have confidence that we are qualified to handle your finances, help your business grow and that we are regulated by the leading accountancy body in the world. The ACCA Qualification provides a wide-ranging skill-set, which means we are trained to provide both strategic and operational input and adapt quickly to your changing management accounting needs.

Unqualified persons who have trained for book-keeping or tax only simply aren't able to provide these other services as their skillset is too narrow.

Andrew Wright & Co is a trading style of Andrew Wright & Co Limited. Registered in England and Wales: 10641250. Registered office: 10 Cliff Parade, Wakefield, West Yorkshire, United Kingdom, WF1 2TA.