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For many businesses raising the money to start or grow their business can be as much fun as having your teeth extracted, one by one, without any anaesthetic.

As the banks have become increasingly centralised and process driven, the ability of your local manager to make a lending decision has almost disappeared. Remember this fact and you might just be on your way to making the process less painful.

If you have a friend or family member who works in the business finance industry and you feel comfortable discussing business with them, do so. They will explain how lending decisions are reached and more importantly will be able to highlight weaknesses within your proposal from a lender's perspective.

Get more tips and advice on raising finance for your business dream.

Needless to say your accountant is another valuable source of advice at this time as they will have the experience to advise what is the most appropriate form of funding for your business. They will also have valuable contacts within the finance industry that have been established over a period of time. Being introduced by your accountant should make a good first impression with a lender.

Understand how taking different types of finance impacts on your business. If you are unsure, ask.

Equity introduced by yourself or another investor is usually welcomed by banks as it makes your Balance Sheet stronger and therefore makes it easier for the banks to lend to your company. The downside of equity is that you will have to give away a share of your company if someone else invests. Debt bogs down your Balance Sheet and makes it more difficult for banks to lend more. Leasing assets can help you reduce your tax payable as the full amount can be written off against profit. However, you don't own the asset in question.

Make it your business to find out more about finance and what it means to your business.

Here are some top tips to help you raise finance when you need it: