FINANCE & FUNDING
If you are currently looking for funding the key is to work with your (trusted) advisers and prepare a coherent and well researched business plan. Do not try and cut corners or make guesses or unsubstantiated claims. The banks, in particular, are making you jump through commercial hoops before providing finance, so do your research properly and get help if necessary in preparing a cast- iron business plan. Once you have a robust business plan that can withstand critical scrutiny – don’t deviate from it. Marketing should not be perceived as a dirty word in the dental profession and your plan should unashamedly identify your target market and indicate how you are going to reach and influence it.
In essence, the requirement to borrow money and invest it in your business is not in itself complex or confusing. Where the confusion can come in, (once again) stems from an adviser’s ignorance of dentistry and the way it is structured, remunerated and taxed. Simply be certain your adviser knows his or her subject.