To borrow or not to borrow: The first but possibly not the best option

For a business in need of capital, navigating the complex funding landscape can often be the first challenge, writes Danielle Barron

It is important to seek expert advice when navigating the complex funding landscape.

While the first port of call for funds is traditionally the bank, this may not necessarily be the right option for companies taking a strategic approach to debt.

Proceed with caution is the advice of Richard Duffy, director, deal advisory, BDO. The type of finance a business requires, he says, is wholly dependent on where it is in its life cycle. “It depends on where you are with the development of your business and the capital structure of your business at the time you go to raise finance,” he explains.