Publisher: Wiley Financial

Authors: Kenneth H Marks, Larry E Robbins, Gonzalo Fernandez, John P Funkhouser, and D L Williams

ISBN: 978-0-470-390153

Click Here To PurchaseThe Handbook of Financing Growth: Strategies, Capital Structure, and M&A Transactions (Wiley Finance)

Businesses continue to find access to financing difficult even as economic growth seem to have recovered from the recent great recession. Banks and other financing sources continue to remain cautious and retain high standards for providing credit to businesses.

The Handbook of Financing Growth is a comprehensive source for business owners and managers who look for navigating the tough credit environment currently existing and be successful in obtaining credit in a way that is consistent and enhances the value of their businesses.

Although the availability of capital remains tight, Kenneth Marks et al highlight the fact that a thorough analysis of the business strategy and financing needs would go a long way in presenting a strong and coherent case while looking for financing options.

The strategies highlighted in this book are targeted towards mid market and emerging growth companies which are highly dependent on external financing for their growth plans and which have found it relatively more difficult to raise financing in recent years.

Strategies for raising both debt and equity financing options are explained. The authors emphasize not just getting access to financing but also to pay sufficient attention to the terms of the financing which can either be detrimental to a company or could add value to the firm value.

Adopting a "from-scratch" approach, the book provides basic analysis tools for analyzing the business strategy. What needs to be done to gain access to capital is explained along with guidelines on finding alternatives from which to choose the best possible financing option for the business.

The first part focused on the key steps, explained in a structured manner by the Growth Strategy Navigator framework. This addresses important aspects including business strategy, defining the objectives, uses of funds and addressing risk. Concepts in business valuation which is a key input for understanding financing needs are summarized using excerpts from Prof. Aswath Damodaran's Applied Corporate Financing book.

Step by step the book explains planning and alignment of business strategy, issues in acquisition, recapitalization and exiting businesses, and issues in capital structure. Several sources of capital are explained in detail including boot strapping, angel and venture capital sources, banks, and financing companies.

The two broad types of financing - equity and debt - are explained from basics and in a detailed manner covering terms and conditions, loan documentation, covenants, voting rights and control of the business. This structured and detailed framework should be of great help to owners in evaluating the different financing options available to them.

In the next section of the book, a range of case studies bring out real life examples of financing transactions covering most of the key scenarios that are faced by businesses in financing growth. The case studies are comprehensive and cover not just the various stages of businesses but also different industries.

Finally, the book has a comprehensive Financing Source Directory which should be a great resource for businesses looking to get their next round of financing.

In summary, The Handbook of Financing Growth is a great resource for business owners and managers not just as a solid framework to analyze their strategy and financing needs but also to decide the best financing option for their businesses available from different sources.

Click Here To PurchaseThe Handbook of Financing Growth: Strategies, Capital Structure, and M&A Transactions (Wiley Finance