And first the bad news...

So, it's been a while since I last posted an update. How very remiss of me, I will attempt to rectify the lapse.

First the bad news. Money, or rather, lack of it.

I knew I had overspent. I knew that things had cost more than first quoted & that the unexpected had happened, costing more money. I've even mentioned it in previous posts. But I hadn't ignored the fact. Actually, I thought I had resolved it. There is this scheme run by the government in conjunction with all the major banks called the 'Enterprise Finance Guarantee'. It used to be called the small firms loan guarantee scheme, but after those same major banks screwed us all & needed bailing out, Gordon & Alastair revised it & changed the name.

Essentially, it is a way of the government getting finance to people & businesses who really need it, but don't have the normal security that the banks require. There is even a part of it that says it is inappropriate for a bank to take a charge over your principal residence. Sounded like just what I needed, so I had a quick chat with my bank, who said, "Yep, should be fine. Finish building the school, sort out a cashflow statement, business plan etc & we'll have a chat, but should be no problem."

So, I did all that, met the bank guy at the school. He looked suitably impressed & sounded comfortingly positive. He took my figures & went away, said he'd be in touch. A couple of weeks went by, then a couple more. I started to get concerned so I gave him a call. No answer.

Rang again, left a message. Tried once more, eventually got hold of him. He said "Yeah, sorry, been a bit busy. Anyway, we like your idea but we want to see 6 months trading history & some sales growth before we do anything."

What? Have you even bothered to look at the cashflow forecast? "Of course I have" (this was said a little bit huffily, as if to say how dare you question me?) So I said, well if you've looked at the cashflow forecast, how do you expect to get 6 months trading history when we clearly show a need for funds in the next 6 months? How do you expect any kind of sales growth if we aren't spending anything on marketing, which we won't be able to, if we haven't got any money? What the hell use is this EFG scheme if you aren't going to apply it the way you're supposed to? And why the hell did you get bailed out by the taxpayer, ie me & the rest of the British public, if you aren't going to hold up your end of the bargain & start lending us OUR OWN MONEY? (In case you're wondering, I was feeling a trifle peeved at this point)

Anyway, long to short, the bank weren't forthcoming. Neither were the Government owned bank next door. I'd already wasted 5 weeks waiting for a call that never came, so I thought it would be a good idea to waste another 5 weeks trying to persuade them that I was right & they were stupid. Not a great plan, in hindsight.

I needed a new plan and quick. My wife, sharp as a pin & cutting like a knife said "You don't need a new plan, you need a new job. And quick. Becasue if you get one, you can use whatever is left after you've paid the mortgage & a few other essential bills, to invest in marketing to build the business."

Sounds like a plan to me.