Over recent years the commercial finance brokerage market has seen the rise of the ‘on-line’ brokerage models. These are aimed at providing ‘all market coverage’ and focusing on ‘speed of delivery’ to service the ‘need’ they believe SME businesses have.

In its simplest terms, a break even point is reached when your total revenue matches your business costs and your business is not making either a profit or a loss. Anything generated above this point is a profit.

If you run a business you may know that a balance sheet and profit and loss account form part of your year end accounts…to many people, they are just numbers on a piece of paper!

There is little doubt that the Government loan schemes have been the dominant force in commercial lending since their introduction in March 2020.

I assume you have already worked out your break even point (BEP). If not, you really should because it would be ill advised to run any business without knowing it. If you haven’t done it, go and do it now. Actually, more sensibly, read this article first and then go and do it.