Notes for Barclay’s Bank Buisness Seminar

Masaka Town

14 February 2008

Jon Mellor

 

Please note that the seminar was about 90% in Luganda so I didn’t much.  However, during the slide show presentation I copied the following notes. 

 

  1. Available Loans through Barclay’s Bank
    1. Unsecured Loan

                                                                               i.       no security deposit required

                                                                                 ii.       1-20 million shillings

                                                                                   iii.       repayment up to 4 years

                                                                                   iv.       interest rates about 27%

                                                                                 v.       arrangement fee 2.5%

                                                                                   vi.       can get optional insurance against death

                                                                                     vii.       processed in 4 working days

    1. Secured Loan

                                                                               i.       security deposit required

                                                                                 ii.       unliminited amount

                                                                                   iii.       22% interest

                                                                                   iv.       fees 2.5%

                                                                                 v.       repayment up to 5 years

  1. Barclay’s Bank Business Club
    1. Unlimited access to business customer advisors
    2. Can use bank up to 5pm
    3. Quarterly business seminars
    4. Great for networking
    5. Monthly membership 30,000=/
  2. Financial Management
    1. Is a process not an event.
    2. You should define and attain goals.
    3. Write down a game plan.
  3. Cash Flow
    1. Inflows

                                                                               i.       cash, sales, debt collection, capital from owners, borrowing from banks

    1. Outflows

                                                                               i.       purchasing and many others…

    1. Cash flow plan

                                                                               i.       Questions to ask youself.

1.       Are you getting enough cash?

2.       Is it coming in at the right time?

3.       Are you using enough or too much cash?

4.       Is cash delaying or leaking?

5.       If cash is not enough

a.        inject more capital, plug leaking money, reduce debtor periods, get bank loans

                                                                                 ii.       And more questions.

1.       How much cash do we have?

2.       How much does it generate?

3.       When should I get it?

4.       When do I get it?

5.       How much do we need to operate?

6.       When is it needed?

    1. More tips

                                                                               i.       Keep overhead at a minimum.

                                                                                 ii.       Keep reserves full funded.

                                                                                   iii.       Keep records

1.       Keep all receipts and invoices from customers and suppliers.

2.       The money owed to you by customers.

3.       Money you owe suppliers.

                                                                                   iv.       Have a budget with sales and expenses.

                                                                                 v.       Prompt billing and ask for cash payment.

                                                                                   vi.       Bank money from sales before use.

                                                                                     vii.       Don’t issue a check unless you have enough money or overdraft protection.

                                                                                       viii.       Don’t allow one customer to dominate you business.