Time is Money - Escape Room

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Taking their initial set-up costs into account, how much money do Ria and Jerome need to get their business up and running and to fulfil their first order?

£730

£630

Right! Now it's time to find the money.

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Ria's gathered a few loan options. Which one should they go for considering the money they need to grow their business?

The Start Up Loan

Circle Loans

BizQuick Loans

Good shout! The Start Up Loan has a fair interest rate and will even put them in touch with people who can teach them the ins and outs of running a business.

Why choose the loan with the higher APR? This won't look good on the balance sheet.

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The minimum loan amount for this one is more than they need. The more they borrow, the more they'll have to repay. Maybe this isn't the best shout after all.

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Wait! Jerome's just got a text from his mum. She's offered to lend them £500. But she needs it back in two months. Should they accept?

Better take the Start Up Loan. It wouldn't be enough and what if they can't pay her back!? Not worth it.

£500, interest-free? Yes please! Thanks mum!

Good answer. A few months later and orders are coming in fast, but they still need more money!

Fast-forward two months. TradedTees is struggling. They need more funding to fulfil their orders and Jerome's mum needs the money she loaned them back, urgently.

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Jerome is considering taking on a part-time job to help fund the business. What are the two most important things he should consider when choosing this option?

The impact this decision might have on Ria: she could end up having to do more work

Whether his commute to work is too long

Whether this decision will make his friends view him differently

Whether this decision might impact his wellbeing, such as increased stress or anxiety

Well done!

You’ve escaped.

You scored: out of 5

Continue your journey to escape as many rooms as you can.