Blog

Expressing an interest

Date 19th May 2016 //
Author Adam Tavener
Human, Person, Overcoat, Coat, Apparel
Alternative business funding, traffic light, icon

Find your business
funding

£
Enter a funding amount between £500 and £50,000,000.
Please indicate what you need the funding for.

In common (I suspect) with other candidate platforms seeking designation under the Small Business, Enterprise and Employment Act, ABF submitted its formal expression of interest to the British Business Bank last week.

What an interesting journey that was. A process that started out as an exercise in responding to specific questions ultimately took us down a road of re-evaluation and critical appraisal of every assumption, assertion and statement in the entire ABF proposition.

It would be no exaggeration to say that what finally got submitted was ABF version 15 or more, with the basic collaborative model remaining the same but not a single part included unless we had rigorously tested it for both accuracy and contextual logic.

This might sound pretty obvious but bearing in mind that this legislation is a first, there is no well of comparative data to use in support of your assumptions, so demonstrating that your forecast outcome and processes necessary to support it are realistic requires both sense checking and evidencing.

I guess ABF is fortunate in this respect, since we have over 12 months of verifiable traffic to support our assertions. Nonetheless, rereading the same thing dozens of times and, ultimately, making continuous tiny adjustments, is properly brain melting stuff.

But, we got there, in the end.

Brains frazzled, logic tested to breaking point and content ruthlessly culled to fit, in it went and out came the Krispy Kremes to celebrate.

It is, of course, only the first stage in the process of designation, and it would be foolhardy to predict the outcome, but, succeed or fail, if I am being honest, what went in to the BBB was pretty damn good.

Let’s hope they agree!

Alternative business funding, traffic light, icon

Find your business
funding

£
Enter a funding amount between £500 and £50,000,000.
Please indicate what you need the funding for.
Related Articles
Machine

What your business needs to know about Making Tax Digital for VAT

The world of business taxes can be a confusing one, and as a result, it's easy to make mis...

LEARN MORE
triodos bank uk, Bag, People, corporation, finance

Funding can match your values

With the UK reportedly spending over £83bn on ethical goods annually, there is increased ...

LEARN MORE
business protection, brexit, questions, impact, small businesses

How can your business protect itself from Brexit?

In the two years since the UK voted to leave the EU, Brexit uncertainty has rippled throug...

LEARN MORE
Trademark, information, tips, banner, legal

Find out more about trademarks

What exactly is a trademark? What is their fundamental purpose and how do we tell trademar...

LEARN MORE