Small Business Owners (SBOs) need funding for many different reasons, but the best need for funding, in my view, is when an SBO has a great business idea, and needs funding to make the idea come to life.
In my time helping SBOs, I have found that the Top 3 Reasons for a Small Business Owner to need funding are:
1) Fund Business Growth
As the saying goes… ‘If a business isn’t growing, it’s dying.’ and many times there is a need for funding to grow and expand a business with new office space, a larger warehouse, new equipment, or to upgrade equipment, and/or more employees. When SBOs see opportunity in their sector, then the right funding can help a business to seize the opportunity, and to take advantage, and to grow.
2) Buy Inventory
Many times there can be an opportunity for an SBO to remain competitive by taking advantage of a bulk purchase of inventory and get it at a deep discount, and being prepared with the right source for funding, can help your business get a hold of inventory fast at a low cost, which can help to increase your bottom line.
3) Fund A Marketing Campaign
Market share is constantly shifting with new products and new trends coming to the neighborhood, and if your business can get the funding that it needs to launch a new marketing campaign to get ‘the-word-out’ before your competition does, then your business can capture the Customer that is looking for the ‘latest-and-the-greatest’ and it can be the difference between your business increasing sales… before trends slow down… and disappear altogether.
The number one question that needs to be answered when it comes to funding…
‘Is the BENEFIT worth MORE than the COST of the funding?’
If the answer is YES!… then why not Go For It!
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