Commercial Loans

[northernladuk]

Pay them personally and just expense them back when you've been paid. Its not rocket science.

B2B payment terms can be anything up to 90 days. How can you have work lined up if you haven't agreed terms? Just a promise?

[TechRiskPartners]

Accountant

I assumed from that question he hadn't got one TBH

Nope, I got one however his fees are negligible comparing to my expenses. Even in my full time role now (similar), I incur expenses in excess of £5K per month at least, so a bit worried about what will happen in future and how I can afford the outstanding payments.

Is it worth considering some initial business loans may be? I have very little savings (house and little one's private school took most of it) and partner has decent monthly earnings (a little over £3K) and just £15K in ISA.

Thanks

[TechRiskPartners]

Very Good Question

Pay them personally and just expense them back when you've been paid. Its not rocket science.

B2B payment terms can be anything up to 90 days. How can you have work lined up if you haven't agreed terms? Just a promise?

Mostly Yes, I am an Adviser so I don't work full-time for any Clients now and I will not be working full time in future either. Most of Clients (a lot of FTSE100 and equivalents) will continue working with me and we will sort T&C in June as my LWD is 28 June and I will kick off myself not before 9 July 2019. A risk I agree, but I am talking to CFO/Finance Controller/Chief Risk Officer so I count on them (hopefully?) as I had known them very well (including their Families TBH) for last 4-5 years at least. Making sense or I am going into a wrong territory?

Thanks for pointing out indeed.

[northernladuk]

Can't see much good coming out of all this. If you've got an accountant try speaking to them first. All this trickling information is useless

Or inneresting...

[GhostofTarbera]

Mostly Yes, I am an Adviser so I don't work full-time for any Clients now and I will not be working full time in future either. Most of Clients (a lot of FTSE100 and equivalents) will continue working with me and we will sort T&C in June as my LWD is 28 June and I will kick off myself not before 9 July 2019. A risk I agree, but I am talking to CFO/Finance Controller/Chief Risk Officer so I count on them (hopefully?) as I had known them very well (including their Families TBH) for last 4-5 years at least. Making sense or I am going into a wrong territory?

Thanks for pointing out indeed.

I’ve seen such promises in the past, some work as you say above, some go pear shaped soon when the CFO try’s to sign off £20K expenses without a contact or setup new suppliers without proper procedure etc

All you have at the moment is a promise from friends (probably playing the big man to impress)



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[TechRiskPartners]

Fair Challenge

I’ve seen such promises in the past, some work as you say above, some go pear shaped soon when the CFO try’s to sign off £20K expenses without a contact or setup new suppliers without proper procedure etc

All you have at the moment is a promise from friends (probably playing the big man to impress)



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Agree, Fair Challenge. I am looking for some fall back plans in case things doesn't go as per plans. Plenty contracts available in areas of IT Audit, SOx work and Controls Transformation, what I primarily do. Thanks indeed for the comments.