Whether you have your structure or not, the next thing to do is sit down with your accountant and solicitor to get advice on what to do next.
Even with cash available, financing the purchase of an asset could be a great option if your cash-flow can support it, because I bet there are other things you could do with your cash.
If you need a car to operate your business, you may wonder whether it makes more sense to purchase or lease.
Before you go down the path of seeking capital from outside your business, identify any other ways of raising capital. For example, do you have any savings (either in the business or you personally) that you could use? If you have unused assets in the business (machinery that’s not used very often, buildings or excess stock you could quit), then weigh up the advantages of selling these first.
Sales and profit are two very different things – as a business owner, you can find yourself without the cash to pay bills despite making sales you knew were profitable. You may also be startled to discover that strong cash flows from sales deliver little profit.
Rex Hutton travels multiple times a year for work, and knows he wouldn't be able to run his business without Xero accounting software.