Every business owner wants their company to grow and become a success, however, in order to do this, sometimes additional funding is required. Many business owners see borrowing money as a weakness but this couldn’t be more untrue. Here’s why…
It Can Be Smart
Even if your business is doing extremely well and you have a healthy cash flow, would you have the money left over to carry out something bold? Whilst some owners decide to keep their business unchanged for years, if you’re in a competitive industry this might not be an option. Rather than using your own money to complete something pricey like a refurbishment, borrowing money might be a more sensible and less-risky option. You’ll be able to grow your company whilst also having your usual income to pay for your stock, cover your staff’s wages and afford the bills. It gives you the freedom to achieve your plans and still be able to maintain the usual running of your business, without placing financial stress on you.
Business Finance Leads to Growth
As mentioned above, business finance helps owners to achieve the growth that they desire. Whether you own a pub and feel like a new interior would entice more customers through your front door, or you own a retail shop and want to purchase a whole new clothing line for spring, investing in these things should ultimately make you more profitable. By raising business finance, you can really advance your business, making a lasting impression on your customers and ensuring that they come back time and time again.
According to a recent report by the British Business Bank, “37% of smaller businesses were planning to grow” in 2017/18. If you fall into this category, obtaining business finance might be the easiest and fastest way to do this.
Your Business Isn’t Failing
If you’re struggling to balance your cash flow, this doesn’t mean your business is failing. Sometimes businesses – especially those that invoice their customers – go through stages where they are owed money, meaning they have a dip in their income. To bridge this gap, many people take out business finance so that they don’t have to scrimp, save and struggle. Experiencing an upturn and downturn in profits is absolutely normal in business, especially those which are seasonal.
According to a report, running out of capital is one of the main reasons why businesses fail. Don’t let your business go under because you don’t want to ask for funding. If you fear that the banks will turn you down because of their stringent checks, alternative business finance is a fantastic and accessible way to obtain money.
It Can Place You Ahead of Competition
If you own a hotel business which doesn’t draw in many customers during the cold winter months, planning for your busier periods is crucial. Why not start working on marketing and advertising campaigns, updating your website and coming up with offers. During the times when you aren’t bringing in much money, you can raise business finance to help you prepare for your more demanding and profitable periods. This will ensure that your business stands well ahead of any competition and attracts new prospects.
At Capify, we help businesses across the UK to raise the finance they require, whether that’s to balance their cash flow or fund a large and extravagant refurbishment. We offer between £3,500 – Over £500,000 and if you’re approved the money could be in your account within days.
Find out how much you could raise for your business today.Get A Quote