Welcome along to a new mini-series designed to help you steer your business through the uncertainty of the COVID-19 situation: Keep Your Boat Afloat: A Business Survival Guide In COVID-19 Times.

This episode sees Gavin in conversation with Richard Bearman, the Managing Director of the British Business Bank, who are playing a pivotal role during this particular crisis in providing support and funding measures for businesses through the ground-breaking Coronavirus Business Interruption Loan scheme. 

This is an incredibly useful and insightful episode with a key person of influence and value, that will provide business owners with answers surrounding available support in these uncertain times.

Sign Up Here: https://bit.ly/biz-pod

KEY TAKEAWAYS

• The support at the British Business Bank is in good hands, as Richard's experience is vast, and has seen him at the helm of key positions in such institutions as HSBC.
• The British Business Bank is the government's economic development bank, and is 100% owned by the government, providing support on their behalf. The aim is to improve financial markets for smaller businesses, so that they can operate in a more effective and dynamic way.
• The British Business Bank is currently acting as the main intermediary between the government and businesses in providing loans and financial support through the Coronavirus Business Interruption Loan Scheme.
• The scheme allows businesses to borrow up to £5,000,000 in order to cover overdrafts, asset finance, invoice finance and other expenses.
• The first route to obtaining funding through the scheme is to approach your bank. If they are not already an accredited member of the scheme, then direct contact can be made through the British Business Bank itself through its website, which will be happy to provide a complete list of partners.
• If the loan requested is below £250,000, then effectively funds can be provided without the usual securities required. 
• In terms of timing, the best practice is to speak to the bank as early as possible, in order to determine your needs, and to decide whether now is the best time to apply, as the scheme will certainly be overwhelmed to begin with. 
• Through any time of change, and despite tragedy and drastic changes in the business world, innovation and creativity will always flourish. People will think of business operations in new and exciting ways, and we will come out of this stronger and more capable of defeating anything similar in years and decades to come.
• The most forward-thinking in business are already planning how best to capitalise on the return to normality when it arrives. Plan to be on the front foot, instead of waiting to be reactionary

BEST MOMENTS

‘Our scheme is very much directed towards helping businesses in this time of crisis'

‘We're trying to turn what may be a “no” into a “yes”'

‘Keep the communication open. Keep talking to the bank'

'There will be innovation. There will be creativity'

'The small kindnesses will count for a lot when we're on the other side of this' 

VALUABLE RESOURCES

The Business Mastermind Podcast 

Complete Success - https://www.completesuccess.co.uk

Get your free copy of Gavin Preston's invaluable guide now - 'Keep Your Boat Afloat: Business Survival Guide For COVID-19 Times' at: Bit.ly/keepyourboatafloat

Richard Bearman at British Business Bank - https://www.british-business-bank.co.uk/our-people/richard-bearman/

The British Business Bank - https://www.british-business-bank.co.uk

To contact Gavin about how he can help you and your business, email gavin@gavinpreston.com

ABOUT THE HOST
Gavin Preston

Gavin is an inspirational Speaker, Business Strategist, Business Growth Mentor, Trainer and high-performance Coach.  He works with Business Owners and Entrepreneurs and has a strong track record in creating creative strategies to accelerate the growth of their business.

He has helped hundreds of SME business owners and leaders improve their performance and that of their business and a comparable number of executives and employees in blue-chip corporates over the last 20 years

Gavin's energetic, insightful and yet down to earth and practical talks, workshops and coaching is in demand with high growth business between £250,000 and £30 million revenue and with multi-national organisations at all levels from Board to frontline Managers. He is an expert in Business Growth Strategies, Peak Performance Mindset, Persuasion & Engagement, Marketing, Productivity, Leadership Development, Team Development & Motivation, Leading Change, Stakeholder Management, Personal Effectiveness and Behavioural Change.

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