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The £50K give away


TheCountOfNowhere

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TheCountOfNowhere

Here's an interesting thought.


Say you are eligible for the interest free £50,000 free handout ( err, I mean business loan )

 

a) Do you think you'll ultimately have to pay it back ?

b) Say you take the money for a year interest free then pay it back, what would you do with it ? 

 

(remember it's a company thing )

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2 hours ago, TheCountOfNowhere said:

if you dont mind a gamble it would be worth while to do.

 

Well I want all of it (the additional working capital would allow me to bring staff in immediately) but I suspect as I've spent the last year developing stuff rather than selling things I won't be able to get enough to make it worthwhile.

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TheCountOfNowhere
Just now, eek said:

Well I want all of it (the additional working capital would allow me to bring staff in immediately) but I suspect as I've spent the last year developing stuff rather than selling things I won't be able to get enough to make it worthwhile.

Get in a (decent) salesman on a commission only basis, you could offer a % of the company/profits. 

 

Debt is bad.

The ex Goldman sachs banker is very kindly offering to get companies into debt.

Why ?

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Bricks & Mortar

I'm just catching up, having been driving around the country yesterday, (thankyou, everyone who stayed home, you all deserve a round of applause for making my drive from Scotland to Hull and back via the Wolds, Scarboro and Whitby an absolute pleasure).

I'll be interested.  Noted, the final details aren't there though.  Or the interest rate.
Wondering how they'll calculate the 25% of turnover.  Had a real quiet last year after a personal injury.  If its on previous years, it could be good.
Quite fancy a new lorry, and some soil conveyor belts.

 

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Wight Flight
3 hours ago, TheCountOfNowhere said:

Debt is bad.

The ex Goldman sachs banker is very kindly offering to get companies into debt.

Why ?

Because otherwise the unemployment numbers would be a disaster.

It was this or more grants. I prefer the loan route.

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TheCountOfNowhere
11 minutes ago, Wight Flight said:

Because otherwise the unemployment numbers would be a disaster.

It was this or more grants. I prefer the loan route.

You have a disaster either way. 

I have no doubt now that we are going to experience a hyper inflation event at some point in the next few years.

Their system has failed.  Deregulate bankers at your peril.

 

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Bricks & Mortar
7 hours ago, TheCountOfNowhere said:

a) Do you think you'll ultimately have to pay it back ?

b) Say you take the money for a year interest free then pay it back, what would you do with it ?

I guess we will have to pay it back.  Unless, inflation doesn't take off... in which case they might write it off.  Either way, WGAF?

Already said a new lorry and soil conveyor belts.  These are tools that I hope will allow us to do more work with less labour, (either men digging, or mechanics spannering while the men are idle).
But I might throw a chunk into physical silver or gold, (taking a leaf from DB, and getting ahead by getting a hedge.)

 

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TheCountOfNowhere
1 minute ago, Wight Flight said:

But what was the alternative?

Certified loans.

The Ex Goldman sachs banker is either thick as shit or he's deliberately handing out 10's of 1000s of £s.

There is more to all this than meets the eye.

All roads lead to the banksters.

 

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Wight Flight
1 minute ago, TheCountOfNowhere said:

Certified loans.

The Ex Goldman sachs banker is either thick as shit or he's deliberately handing out 10's of 1000s of £s.

There is more to all this than meets the eye.

All roads lead to the banksters.

 

Good plan. They tried that and it failed.

It was going to take them two years to get through the applications.

This way, they have taken the bulk of the applications out of the system, allowing the banks to focus on the larger employers.

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Bricks & Mortar
12 minutes ago, TheCountOfNowhere said:

Every should G A F.

 

Where do you think the money comes from for **** sake.

Point taken.  I certainly GAF when the governments handed out free money to other priviledged groups.  I'm still in shock that I might be on the list this time.

 

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Bricks & Mortar

It's not even that generous.  They're offering of 25% turnover.  If the business survives, they'll get that back quicker than the year's interest free period, through VAT and payroll taxes.   Just good business on the government's part.

 

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TheCountOfNowhere
3 hours ago, Bricks & Mortar said:

It's not even that generous.  They're offering of 25% turnover.  If the business survives, they'll get that back quicker than the year's interest free period, through VAT and payroll taxes.   Just good business on the government's part.

 

Not 25% of profit then!!!! 

 

Ffs

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Bricks & Mortar
36 minutes ago, TheCountOfNowhere said:

Not 25% of profit then!!!! 

 

Ffs

Must admit, I got 25% of turnover from Sky News reporting, and didn't see it on Government website.

https://news.sky.com/story/coronavirus-chancellor-reveals-bounce-back-loans-of-up-to-50k-for-small-firms-11979581

What the gov website has to say:
https://www.gov.uk/government/news/small-businesses-boosted-by-bounce-back-loans

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TheCountOfNowhere
9 hours ago, Wight Flight said:

Have you ever run a company?

Yes, 2, both profitable, always had a 12 month buffer.

If people too close to the wire that's their problem not the tax payers.

You dont pay back loans out of turnover.

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