Cash Is Essential To Grow Your Small Business

Posted by Karen Erdelac on Apr 17, 2018

Working Capital Is Essential To Grow Your Small BusinessSmall business owners often overlook the need for cash as daily operations and inventory take precedence when it comes to setting the budget. The fact is, without cash your small business stands little chance of growing. Being able to take advantage of opportunities when they arise will greatly impact your ability to scale. If your aim is to grow your business and thrive into the future, working capital needs to be included in your budget. Here’s why:

Equipment Upgrades

Is there a piece of equipment that could help your business make a lot more money in the same or less time? Maybe your bakery needs a new oven or your auto repair shop needs a new lift. A business cash advance can give you the upfront money to get the equipment you need, all without the credit check that other types of financing might require.

Acquiring A New Business

As your business grows, you may come across an opportunity to acquire another business, which would add to your customer base. Not too many businesses have money just lying around to buy another business, which usually costs tens of thousands of dollars (at least). Merchant cash advances are perfect for this type of purchase, which can begin to make money immediately upon takeover.

Going Green

Working Capital Is Essential To Grow Your Small BusinessGoing green has become one of the biggest trends in small business for several reasons. For one, many consumers are becoming more environmentally aware and consciously seeking out green businesses. Another benefit is using energy efficient equipment and recycled materials can save money. When it comes to competition, going green can be easier for small businesses versus their larger counterparts. This creates an opportunity to separate from the competition and take advantage of niche markets that big business can’t reach.

Marketing Campaigns

Sure, there are free and cheap ways to market your business. Some of them can even be effective, but they usually take a large chunk of your time. Time spent marketing is time you can't be working on the other aspects of your business. If marketing isn't an area you enjoy or feel effective in, hiring a marketing company to take over this aspect of your business is well worth the cost.

Online Presence

Hiring a professional to create a quality website for your business can cost several thousand dollars, but creating your own website will probably take you at least 100 hours, and even then, it may not look professional enough to attract new customers. Social media has become one of the best ways to advertise your small business and increase brand awareness, however, recent changes have led to a need for a wider budget to include paid advertising.

Inventory Opportunities

One of the biggest expenses that small businesses generally have is purchasing inventory. Without the cash flow to buy in bulk these expenses can be much higher than they should be. This could include purchasing seasonal items or things that are for everyday use. The potential savings from buying large quantities can far outweigh the payback costs of a business cash advance. If this is the case and you have the storage space to house additional inventory it represents a great investment opportunity. You need inventory in order to stay open, so if you are able to cut those costs it can significantly impact your bottom line. It also ensures you will not run out of crucial items during busy times.

With over 12 years in the business, Quikstone Capital Solutions has proven to be a trustworthy and knowledgeable lender specializing in small business funding. Over 60% of our clients are renewals looking to continuously grow their business. Whether you need cash for emergencies, cash to cover unexpected costs, or if you’re looking to make long overdue improvements, Quikstone Capital can help.Apply Now

Topics: Business Cash Advance, Small Business