Finding Money to Expand and Grow Your Business
Growth is the key to building a healthy, sustainable business and usually that involves finding money, and sometimes, quite a lot of it. But to grow, organisations need to locate ways to expand their business operations. Improving an existing product, adding to the size of your staff, and launching a new product line are popular choices. Another option that can help you grow your business is to increase your number of business locations. Each of these ideas for expansion all require significant funds. Coming up with the money to expand is a challenge for any business, especially a small to mid-sized one. The following are a few strategies to help you find the money to develop and grow your business. Cashing in Savings and Applying for Loans One way that business owners can locate the money they need is to cash in their savings. They might also sell a personal or business asset, or apply for a loan. While these are popular choices, each features a number of drawbacks. One significant drawback is the fact that loans must be repaid over time. Also, you need to take into account the crippling rates of interest charges which can seriously impair...
Read MoreIs Crowdfunding The Solution To Your Finance Needs?
Smaller businesses are finding many benefits in the digital age. One of the strongest is the emergence of crowdfunding. Asking a lot of people to contribute a small amount of funds each can have big payoffs. The difference can be huge for small companies, who may then have funds necessary to get a new idea off the ground. There are tricks to running a successful crowdfunding campaign, however. Let’s look at several things you can do to give you the best chance of success. Promote interest While it may seem that campaigns randomly “go viral”, in the case of most successful crowdfunding campaigns a lot of work is done behind the scenes to ensure tactical and sufficient publicity takes place. Be active promoting your campaign to your network, and directly ask interested parties to promote it to theirs. Consider partnerships that could form that could benefit your campaign and approach people who might be interested in working with you. Update your followers Supporters like to follow your progress, both in terms of how successful your campaign is and how your production is coming along. Keep them updated, and let them know if you are still looking for support, or...
Read MoreWhat are our clients saying
"Sophie is so professional – careful, attentive and punctual – she has made managing my accounts not just easier, but a whole lot less stressful" Fast Ed, TV Chef from Better Homes & Gardens.
See More Testimonials
Recent Comments