Tax Credits: A Safe Finance Alternative

Sourcing finance to grow your business is a common need, especially if your business has just started. However, SMEs should be wary of opting for business loans available from traditional high-street lenders.

That’s because there’s a lot of red tape that often scuppers a budding company’s plans. If your company has struggled to get the finance it needs, then alternative business funding, like business tax credits, might help.

With Adsum, you can get your tax advance within 24 hours now. Read on to see how this business loan alternative can help and learn more about five risky options you should avoid.

However, the high street typically enforces strict lending criteria, which your business may struggle to meet if it’s small or just starting out. Cutting through all the red tape can be a tall order if your business has low working capital, uncertain sales forecasts, or difficulty showing its trading history.

In any case, for your business to reach its potential and attain new heights, you’ll likely need to raise some capital by looking into finance alternatives, such as tax credits. That way, your business can bypass the irksome and limiting requirements it would otherwise face by using traditional lenders.

Business tax credits have remained in the dark for far too long, and aren’t usually the first thing that comes to mind when considering alternate finance.

This is a shame because tax credits can be one of the best business loan alternatives around. That’s because you get to advance some money that’s already coming your way but without the laborious process of applying to HMRC and waiting for them to pay you.

At Adsum, we’ll advance all the tax credits you’re due from HMRC within 24 hours, even if you haven’t applied for them yet. Just keep in mind that to be eligible your business must be VAT registered or in the process of getting a VAT number.

As well as claiming tax credits, there are other finance alternatives that can raise working capital for your business. Unlike tax credits, however, they can be complicated and risky. This is simply due to the fact that tax credits concern finance that you are entitled to with HMRC. It’s really that straightforward.