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The overall cost for comparison is 11.6% APR. The rate is variable and based on a usual case, including a broker fee of £2,000 and other fees of £1,330. A valuation fee will be payable. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
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Business loan for family-run success
Reported on Wed, 21 Jun 2006
Family businesses are supplying the power behind the world economy, according to a new study - and a business loan could help aspiring entrepreneurs get their feet off the ground.
A study published in Family Business Review finds that firms kept within the family are more likely to experience continuing high employment levels and revenue growth, making them more profitable than their competitors over the long term.
The research found that the average profit margin for family businesses was ten per cent – two per cent higher than for non-family companies.
"Holding other things constant, family firms are likely to grow faster and be more profitable," said Dr Jim Lee, author of the report.
Family firms make up 35 per cent of the companies listed on the Fortune 500 index provided by sector analyst Standard & Poor, making them "the backbone of the global economy", according to the new report.
A business loan could provide the support to kick-start operations for consumers looking to set up a family-run company.
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