7 Benefits of Business Funding
The ability to be your own boss and call all the shots is perhaps the biggest benefit of being a small business owner. But it’s not easy. Business is complicated and imperfect. To survive and thrive, you must also know the biggest benefits of business funding.
For your business to be successful, it must be enjoyable, profitable and useful. In order to achieve these goals, you have to be aware of all the assistance, advice and benefits available to you. Most importantly, you have to know about the benefits of business funding and how it can help you outlast the competition.
How Can Business Funding Advance Your Company
Benefit 1: You are prepared for the ups and downs of cash flow. This is something every business experiences at one time or another. Without small business funding, you are in danger of losing your business. As a matter of fact, the number one reason that more than 50 percent of small businesses fail within six years is that they simply run out of cash. Don’t let this happen to you. Remember that long range planning is accomplished with continuous bursts of short term business financing.
Benefit 2: You can handle emergencies. Disaster, misfortune and out of the blue occurrences are sure to happen to your business at some time. This might include a major storm, the loss of your biggest client or even being the victim of cyber criminals. When it comes to these types of events, it’s not a question of if it will happen but when. With an emergency business loan, you are ready for anything.
Benefit 3: You can take advantage of new opportunities. If your business is not growing, it is failing. Growth often requires finding new customers, expanding your product line or locating a new revenue stream. For many companies, when opportunity knocks, they must first pull back the chain, unhook the locks and turn off the alarm system. By then, the opportunity is gone. Excuses are abundant, opportunities are not. When your fast business loan is already in place, you can seize every good opening to take your company to the next level. This is how you beat the competition. Coming in second just makes you the first loser.
Benefit 4: You can make sure you always make payroll. This sends a strong message to your employees that you are a stable company. In addition, you don’t get into trouble with the IRS or the state by paying your staff late. In fact, many for profit and not for profit businesses are not aware that it is actually illegal to pay your employees late and you can get into a lot of trouble if this becomes a recurring problem. Also, not paying your employees on time makes them cranky and unproductive. They may be disrespectful to customers and prone to the kind of mistakes that can affect product quality. Your people are your company’s greatest asset. With quick business funding, you can ensure their devotion and give them the confidence that this situation will never happen.
Benefit 5: You don’t have to put your personal assets into the business. It’s tough enough to separate your personal credit history from your business credit history. Don’t compound the problem by mixing up funds as well. When you have to take out an instant business loan, the bank will use your personal credit score to make their funding decision. You may only be eligible for a home equity line of credit, forcing you to put your own residence on the line as collateral. If you have a business line of credit, you can avoid this. It lets you have a continuous supply of cash to use so you won’t have to dip into your own money to fund your business.
Benefit 6: You don’t get distracted from your work to have to find financing because you were proactive from the start. If you do not prepare your business today, you might as well forget about tomorrow. As a small business owner, your primary focus must be only those tasks which relate to your growth and survival. It’s crucial that you delegate the rest. This is almost impossible to do if your survival is in jeopardy because you keep running out of money. That means you focus is always on financing and you are in perpetual panic mode. When you know that you have small business funding already in line, you can rest easy and get back to business.
Benefit 7: Getting instant business funding when times are good, just in case, is the best time to do it. When you are in distress is the worst time to seek a business bank loan. Banks are reluctant to grant funding to small businesses on a normal day. Research shows that big banks fund only about 25 percent of the small business loan applications they receive. They have so many rules and regulations about collateral, credit scores and financial statements that it’s impossible for most small businesses to qualify. Add financial woes to the equation and you can forget about it. By going to an alternative financing company, you can get easier terms, fewer fees and a faster response. Do this now so that when the need for fast business cash surfaces, you can rise to the occasion.
Benefits of Being a Small Business
Things are not easy for the small business owner. Sometimes, it may seem like the whole world is out to get you. But fear not, intrepid entrepreneur. Of course, your goal is to grow but you should also be aware that there are numerous benefits to being exactly where you are.
For one thing, technology makes it easier than ever to compete, even on a global scale. You can use online resources to communicate, sell, buy, and grow. There are apps and platforms that let you do everything from managing front end tasks to starting a customer loyalty program. Now you can accept payments from customers in any form as well as engage your audience directly on social media and improve your website to make it work for you. This can make your business more efficient and free up your time to concentrate on the important stuff. Best of all, new programs pop up all the time. As a small business, you have the speed and agility to take advantage of these tools quicker than the big guys.
Additionally, you have access to advice and mentorship from those who have come before you. The world is teeming with successful business people eager to share their knowledge. You can find blogs, videos, podcasts and presentations from some of the top minds in business, all with the click of a button. They offer tips and insight on what they did right and how you can learn from their mistakes. This means you don’t have to recreate the wheel. You now get to take all this information and run with it to surpass them and make your business the best it can be.
Getting support from your community is another benefit. Studies show that more than 90 percent of U.S. businesses are small businesses. Most people either currently works for, used to or knows someone who works for a small business. You help create jobs in your surrounding area. As a result, they are happy to help you succeed. Outsourcing, customer service automation and long wait times have many people ditching the large chains and turning to small businesses for satisfaction. Take advantage of the fact that you are more familiar with local issues and concerns. Get involved in your community by planning, attending and sponsoring events. Customers will reward you tenfold.
Another benefit is that you get out what you put in. Whether you succeed or fail is completely up to you. You decide how many hours you will work, who you will hire and where your vision will take you. Middle management bureaucracy, indistinct goals and office politics are a thing of the past. All your hard work and dedication directly relates to your passion. There may also be the additional advantage of knowing that you are helping your employees follow their dreams as well.
Also, having big companies to compete against keeps you on your toes. To get to the top, you must push yourself, be innovative and do the things they can’t. This includes providing a personalized experience for each customer, adapting to economic shifts and capitalizing on trends as they happen.
You also have numerous outlets for fast business financing. There is now an abundance of financing companies that exist just to help the small business owner. While banks continue to increase their restrictions, these companies design their services with the small business owner in mind. They understand your challenges and realize that your processes are different than the mega corporations so they are willing to work with you.
Winning in business is not a part time endeavor. It requires your full time dedication. That’s how you go from good to great. Getting quick business funding from Financing Solutions (www.financingsolutionsnow.com) is the best and fastest way to get you there.