Small Business Refurbishment and Renovation Guide - Part Two: Funding + Costs

Part One: Planning + Design

Part Two: Funding + Costs


Working on a pre-existing property with a varying team of new people, the realistic nature of a renovation project can often be unpredictable. We’ve talked about the planning and preparation stages in Part One of this guide, but it’s important we think about the finances too. You can combat the worst of the chaos here by being as detailed as possible with your budgeting plan, and avoiding the temptation of taking any shortcuts.

Set aside a healthy contingency fund to cover any unexpected repair works, and don’t forget to include ‘hidden’ costs such as professional fees, Building Control fees and VAT – often which are not included in quotes.

It is essential that you research pricing for the work you’re after in advance too, and are confident that the figures you’ve budgeted will cover the necessary costs. You’ll need to check labour rates as well as material costs, and these may vary depending on area and demand.


Renovation and/or expansion is a big task; it’ll take time and effort and, of course, money. More often than not, small businesses will need a little extra financial support to complete their refurbishment plans, and there are dozens of options out there.

With its flexible repayment system and no interest, late fees or APR, our Business Cash Advance is ideal for covering refurbishment costs.

Business owner, Laura Howells , used a Business Cash Advance to refurbish her seafront restaurant with a feature glass-walled room and a specifically designed café bar; and it has since significantly grown, year on year, to now offer hosting for private functions and live music events.

“We needed a boost in cash reserves,” she says, “not only to absorb the normal business fluctuations but to continue the ongoing upgrade of furniture, fittings and equipment, and grow the business in line with demand. Without a Business Cash Advance we would have had very little opportunity to continue improving operations.”

Find out more about Laura’s funding story here.

Cost Control

In any project, effective cost control all comes down to good communication, so make sure to schedule regular meetings with your tradesmen so everyone aligns on the same page. This should help avoid any misunderstandings that could otherwise grow into expensive issues.

Being conscious of your spend, you can try to repair rather than replace where you can. But if you’re committing to heavier repair works and utility upgrades, make sure the methods you choose really are effective solutions. Don’t be fooled by fast fixes and seemingly solved visual results, be demanding with your contractors and make sure you’re getting your money’s worth in the long-term as well as the short.

You can also save money by avoiding making late design changes or last-minute impulse buys, as these can not only dramatically disrupt your costing, but throw off your project timeline too.


If you missed it, you can catch Part One of our Small Business Refurbishment and Renovation Guide on Planning + Design here.

The Liberis Business Cash Advance - Designed to help SMEs
  • Funding from £2.5k to £300k
  • One fixed cost; no APR, varying terms or penalty fees
  • A quick, easy and no hassle onboarding process
  • Higher approval rates than the banks
  • Flexible and painless repayments that support cash flow
  • 80% of customers use us again
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Liberis is a responsible financial provider. Liberis does not offer 'short-term loans'. The minimum expected duration of a Business Cash Advance is 120 days / 4 months and typical expected durations are 6-12 months. These business financing products are not consumer loans.