Question 1

The bank said no. What now?

Accepted Answer

First, find out whether it was a decline or a closure, because they are different problems. A decline on a new application usually means something in the profile did not fit that bank's appetite. A closure of an existing account is more serious and is often about risk rules rather than anything you did. Banks rarely tell you why, and in many cases they are not permitted to. The common reasons are an activity the bank has decided not to serve, owners or directors in countries the bank treats as high risk, a structure it cannot see through, no real trading history, or an address that looks like a mailbox. What usually helps is a cleaner story rather than a better pitch. A clear description of what you sell and to whom, invoices or contracts that back it up, a real address, and a structure someone can follow in one read. There are also electronic money institutions and business payment providers that serve businesses high street banks turn away. They are not identical to a bank and the differences matter, but for many people they work. We can introduce you to firms who place accounts for a living and know which door is open this month.

Question 2

I need funding but not from a bank

Accepted Answer

There is more of this around than there used to be, and the right one depends entirely on why you need the money. If the gap is that customers pay you late, invoice finance or factoring advances you most of the invoice now. If you sell online with steady card takings, revenue based finance lends against those and takes a percentage of daily sales until it is repaid. If you need equipment, asset finance secures the loan against the equipment itself. If you have assets or property, secured lending is usually cheaper than anything unsecured. If you are genuinely early with no track record, you are in grant, angel or equity territory, and that means selling part of the business. The cost varies from reasonable to punishing, and short term cash advances in particular can carry an effective rate far above what the headline suggests. Always ask for the total amount repayable, in pounds, not the rate. We do not lend and we do not advise on which product to take. We can put you in front of brokers and lenders and let them compete for you.

Question 3

How do I take payments from abroad?

Accepted Answer

The thing that costs you is rarely the fee. It is the exchange rate, because most providers quietly add a margin on top of the real rate and call the transfer free. For regular international invoicing, a multi currency account lets you hold and receive in several currencies and convert when you choose rather than automatically on arrival. For selling to consumers, the card processors handle currency for you but their conversion is usually the most expensive part of the transaction. For large one off payments, a currency broker will often beat a bank noticeably. Stablecoins do get used for cross border payment, and in some corridors they settle faster and cheaper than the banking route. They also bring their own considerations around record keeping, accounting treatment and the rules that apply where you are, and getting the money into ordinary currency at the other end is its own step. It is a real option for some businesses and a bad fit for others. Tell us which countries the money is coming from and how often, and we will introduce you to people who handle that specific corridor.

Question 4

Can I open a bank account in another country?

Accepted Answer

In some places easily, in others only if you are physically there, and in a few only if you have residence first. It is worth knowing which before you buy a flight. Georgia has historically been among the more approachable for visitors. The United Arab Emirates generally wants the company, the licence and usually residence in place first, and the process is thorough. Poland and other European Union countries usually want a local tax number and often an address. The United States effectively requires a business tax number and, for most banks, someone showing up in person. Everywhere, expect the bank to want to understand where the money comes from and where it goes. Vague answers are the most common reason for refusal, more common than anything about the applicant. What we can do is tell you which of these is realistic for your situation and connect you with firms in that country who open accounts regularly and know what each bank currently accepts. That last part changes often, which is why a local contact beats a guide written last year.

Question 5

I need people, but cannot afford staff

Accepted Answer

Employing someone is expensive beyond the salary. There are employer contributions, pension duties, holiday, sick pay and the cost of getting it wrong. There are other ways to get the work done. Contractors and freelancers cost more per hour and less per year, and you pay only for what you use. The risk is that if the relationship looks like employment in practice, it may be treated as employment for tax whatever the contract says, and the bill lands on you. An employer of record lets you engage someone in another country properly without setting up a company there. They employ the person and invoice you. It costs a margin on top but it removes a lot of risk and is usually cheaper than opening an entity for one or two people. Offshore teams in countries with lower costs work well for defined, repeatable work and less well for things needing constant judgement. The saving is real but the management time is real too. Tell us what the work actually is and we will introduce you to firms who supply that model in that country.

Question 6

Can I put my brand on someone else's product?

Accepted Answer

Yes, and it is a normal way to start without building a factory. There are two versions and the difference matters. White label means the product already exists and several people sell it under different names. You get to market fast and cheaply, and so does everyone else, which means you compete on price and brand rather than product. Private label means the product is made to your specification and is yours. It costs more, takes longer and usually has a minimum order, but nobody else can sell the same thing. Whatever you choose, put in writing who owns the design, whether the maker can sell the same thing to your competitors, what happens on defects and recalls, and who is responsible if the product does not meet the rules in the country you sell into. That last one falls on you as the seller far more often than people expect. We can connect you with sourcing firms and with people who draft these agreements properly.

Question 7

Am I breaking any rules I do not know about?

Accepted Answer

Possibly, and this is worth ten minutes of thought before it becomes worth a lawyer. The activities that are regulated almost everywhere are the ones involving other people's money or other people's futures. Holding client money. Arranging or advising on investments, insurance, mortgages or credit. Immigration advice. Legal work reserved to qualified lawyers. Accountancy and company formation services carry duties to check who your clients are and to register with a supervisor. Anything touching health, food or children carries its own regime. The pattern that catches people is helping informally. Recommending an investment to a friend who pays you. Filling in someone's visa form for a fee. Holding a customer's money in your own account until a job completes. Each of those can cross a line that carries real consequences. We say the same about ourselves openly. We make introductions and we do not advise, because advising in those areas requires permissions we do not hold. If you tell us what you do, we can tell you which questions to put to a regulated firm and introduce you to one.

It is working, but I have hit a wall