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Applying for finance: Top 10 mistakes made by startups and scaleups


Neil Bellamy, head of technology, media and telecoms at NatWest, looks at the most common mistakes made by startups and scaleups when applying for finance.

Applying for finance can be a daunting task. You are putting yourself and your business out there – most often to grow or take on a new opportunity.

Most applications can now be done online and the process is easier than ever. However, it’s still easy for startups to fall into a number of common traps.

Here are the top 10 common mistakes made by startups when applying for finance:

1. Applying too soon

As with anything, timing is key.

Make sure you choose your timing carefully and don’t apply for debt before your business is ready....