Refinancing a Business: Why Should You Get a Business Loan

If you’re a business owner who has been running a successful company, you believe in the old saying that to make money you must first spend money. And this is quite true. Businessmen and the so-called “serial” entrepreneurs know that the fastest way to grow your money isn’t through a bank but by operating a business. But sometimes, income coming from your business isn’t really enough to support other expenditures that your business requires. So what can our solution be? The answer is quite simple – get a business loan. A business loan can offer you a lot of advantages and how it can benefit your business. It’s not always that a business loan will only bring more obligations. Weighing in your benefits over your cost of taking on a loan, you might see that getting a business loan isn’t as bad after all. Here are a few reasons why a business loan is good for your business. Expanding Your Location Reach Business must grow and one way to grow it is to expand your market reach by establishing a presence in new locations. But this comes with a price. The money a business may have may not always be enough to cover for the expenditure. Getting a business loan may be the solution which can provide the funding needed to build a new shop or a building in the location you think your business can grow. Purchasing Equipment Nowadays, equipment is becoming more necessary for operations on any type of business. It is no longer limited to business with a manufacturing environment. Equipment can be computers being used for the database, order management, or even service providers. Purchasing this equipment may come at a high price and a business loan can offer to provide the solution. Improving Your Business Cash Flow Sometimes our business can encounter problems such as the cash flow shortage. It may not necessarily mean that your business is going bankrupt but liquidity may be a concern. A business loan can help you with having sufficient cash on hand to support your expenses and operational costs.…

What Should Your Small Businesses Outsource In Order To Be Efficient?

As a small business, you can’t afford to hire people whose services you will just need for a couple of months. For one, you must secure the needed equipment and software. Then, you also have to deal with the hiring process, salaries, and benefits. Add to that, you also have to take note of tax guidelines. Then, you need to think of other jobs that they can do once they are done with the tasks you want them to accomplish. Why not opt to outsource? If you are not sure which task you can outsource, we will list them down for you. #1. Data Enhancement Certain data are useless if they are just raw. They need treatments so they will be enhanced and you will know which business decision to take. This task is tedious and though you can use software to do the job, there are times when you will need human intuition and creativity. A software can tell you that a grocery receipt is bought to cook a certain dish. But only a human can tell you that the dish to be made is for a special occasion planned to be served during dinner. This is why data enrichment, data entry and proper data management is vital to any business. #2. Accounting and Payroll Taxation guidelines can be messy. Add to that monthly payroll can take much of your time. Not to mention that you have to calculate the late, absences, holidays and benefits that each employee is entitled with. And as if you are not busy enough, you need to keep an eye to the ever-changing regulations to avoid violating the laws. Good thing you can easily outsourcing your accounting and payroll. see minimum wage philippines 2017 ncr #3. Marketing Online marketing is a vast industry. You can’t just let a new employee handle your Facebook ads and expect a flock of leads. Making ads interesting and fruitful has to be based on research and user analytics to make it effective. Otherwise, you will just be wasting your money. #4. Customer Support If you are into business, it’s…

Why Should You Outsource Your Small Business’ SEO Efforts

No matter the size of your business, you can make yourself a leveled playing field if you boost your efforts in online marketing. It is not enough to create a company website if nobody can find it online. Of course, you or a staff may know how to optimize your website to make it rank in search engines. However, SEO is more than what meets the eye. Here are the best reasons why you should outsource your Search Engine Optimization. Save Money Whether you are a startup or a small business, you can’t just spend your money on additional equipment, analytical tools, and software. These could cost too much for you and can strain your funds. If you outsource, you can just pay the package that fits your needs and your budget. Outsourcing businesses do not charge their clients the full amount of software and other tools that they utilize. In fact, they divide it among multiple clients. Access to Expert SEO Team If you rely on a staff to handle your SEO, then your staff will have not much time to handle the rest of the job responsibilities. SEO takes a lot of time since it involves research, analysis, planning, and implementation. On the other hand, if you outsource SEO, you can immediately get the services of skilled experts who have enough experience to cut down the needed time to boost your website ranking and visibility. SEO is Dynamic Even if you start studying SEO now, you will have to spend more time to learn algorithms. Then when you thought you have known all of them, there will be changes out of the blue to through you off the path. Experts can get back to their feet in no time once they learn the changes that they have to do. But beginners will take too much time to cope. This is because the search engine, particularly Google, usually do not give hints on the changes that they did.

5 Most Realistic Ways to Fund Your Startup

Every great business idea must be put into action before it generates any income. However, if you have no capital, it will be impossible to build your enterprise. There is no free lunch, and you must spend for manpower, equipment, packaging, internet service and communication means. No matter which industry you want to penetrate, it will be difficult if you do not have enough cash to spark it up. Here are five realistic ways to fund your startup. Closest Circle You can ask your family and circle of friends to lend you a hand. One advantage is you can negotiate more openly depending on how close you are to them. If you are lucky, you can even borrow without interest charge. However, if they are giving you a flexible loan from money lender Singapore in a legal way, you must draft a contract to avoid future dispute. Small Business Loan If you want to get a small business loan, you have to shop around for a money lender Singapore. Banks do not give small business loans that easily if you are a startup and can’t afford to have collateral unlike money lender Singapore. Add to that, banks take their sweet time when processing business loans for startups from money lender Singapore. Bootstrapping Got savings? Fund your own startup and start small for a while. Make do with what you have for now. There will be no interest charge and you are free to plan your finances without worries on any payments or bills in case you experience any downfall. Crowdfunding If you think that your business idea is catchy enough, then you can take it to crowdfunding platforms. There are various crowdfunding sites. Some cater to artists while others focus on businesses with innovative products. However, be careful not to over promise anything to your investors. You might frustrate them if you are unable to deliver your promise. Also, take the time to read the guidelines or regulations. Keep Your Day Job Successful entrepreneurs who profess that they just took a leap of fate may be inspiring, but doing it yourself is…

5 Must-Know Types of Investors for Your Startups

Investors are important players in any industry. They help businesses start, grow and thrive. The budding entrepreneurs need to know which type of investor they need to look for and the best practice to approach them. Banks One way banks make money is by investing in various businesses. They are, after all, the classic place to get a business loan. However, banks have been more risk-averse and tend to lean more on businesses that can guarantee returns. Banks lend to startups, but the process is too taxing and too long. To get approved, you need a collateral or proof of revenue stream. Venture capitalists You can capture the interest of venture capitalists only if your business is able to show a significant amount of revenue. Since this type of investors put in a significant amount of money, they expect to gain returns from the profits of a hedge fund or private equity. Personal investors Certain business owners also rely on their family. Even Donald Trump got a loan from his own father to build up his business. But most family and friends can invest only a certain amount. Do not forget to document every cent and the agreed conditions. Angel investors Angel investors invest in startups only if they are convinced that they can gain from it. They may ask questions on how you will handle your business operations as they would want to give tips on how to steer it into success. Remember that most angel investors are entrepreneurs themselves. To approach them, you may want to find a person who can recommend your business to angel investors. This person may be found in your community groups. Private Lenders There are private lenders who are also willing to help startups plant their roots. Some offer secured loans while others have unsecured. The process is faster than the business loans in banks. However, make sure to understand the loan contract and choose a reputable lender to avoid fraud.