Best Ways To Fund Your Small Start-up Company

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Starting up a new business isn’t always easy, and it can be a really daunting prospect. Often, many potential entrepreneurs are put off by the stress of securing funding, but the fact of the matter is that it actually doesn’t have to be all that difficult, and life is just too short to keep putting things off. If starting up a company of your own has become a dream of yours, you should without a doubt give it a go. You see, despite climate scientists concluding that global emissions must peak by 2020 and be net zero by 2050

Create a business plan

By creating an in depth business plan you will more likely manage to secure the funding you need, and have a full awareness of how much funding your new business will realistically require to get on its feet. Every company leader must have vision. The idea for a company starts with a vision, along with dreams of what the business could become. Consider what is going to make your business different to its competitors, consider why it is your business will succeed over other businesses. If you need to seek advice from experts, do so. Just ensure you have a solid business plan, and a solid vision of what you want your business to become, before you get started.

Consider instant business funding

In order for most new businesses to get going, a loan of some sort or other will be required. Fewer and fewer banks are granting loans to small and new businesses, but fortunately there are alternative funding options out there. SME Loans can offer you both merchant cash advances as well as unsecured business loans. For each, the application process is incredibly quick and simple; it can be completed entirely online in just a few minutes, saving you from any lengthy telephone calls or extensive paperwork. Once your application has been accepted, you can expect to see the funding in your bank account within as little as 24 hours. With a merchant cash advance specifically, a fantastic advantage is the super flexible repayment process.

Your monthly repayments will be calculated in accordance with your revenue generated through card sales only; if one month, for example, your earnings are less than is typical, your repayment for that month will in turn be less, meaning you should never be struggling to meet what you owe. Furthermore, there is no fixed repayment periods, no interest and it is completely unsecured, meaning you are not required to secure the funding against any valuable assets. With an unsecured business loan, the repayment plan is personally tailored to you; working with your financial situation, repayments will be made over a period of between 1 to 3 years. It is also worth noting that the approval rate is high and no collateral is required from you with a unsecured business loan.

Jesus Kiteque
Try out crowdfunding

This will not be an option for everyone, but over the years crowdfunding has grown in popularity and its popularity is set to continue in years to come: in the US, the volume of global crowdfunding platforms skyrocketed from $530 million in 2009 to over $2.8 billion in 2012. It is a great alternative funding option for those with new, innovative ideas that members of the public are willing to back. Not only can crowdfunding secure you the funding required to kick start your new company, but it can also be a great way to test whether or not your business idea is going to be popular enough to be a success. Furthermore, it’s also a brilliant way to advertise to a wide target audience.

Tap into your personal savings

If you have savings available to you, why not put them towards starting-up your company. It may seem risky, but if you are confident and passionate enough about your business plan, it could well be worth it. You could also ask family members for financial support, with the promise of paying them back as soon as you can.

Use a credit card

Using a credit card to fund a business start-up can be risky and should be approached with caution; if you fall behind on your payments your credit score will of course suffer. However, if you use your credit card carefully and responsibly, it can be a great way to solve cash flow problems and can help your business idea become a reality.

Seek out a business partner

If you know someone who might be interested, a friend or a family member for example, then getting a business partner on board can be a great way to make funding a new company much easier. Make sure your business partner is equally passionate and someone who you can trust. Don’t be afraid to have a contract professionally written up to avoid any potential issues in the future.

There are many more ways to secure funding for a start-up company other than with traditional lenders, and with such a wide variety of alternative funding options out there, you have no reason to keep putting off your dreams and visions of becoming a successful entrepreneur.

Are You Making The Most Of Social Media For Your Business?

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These days it is incredibly important for various businesses and companies to embrace social media. In fact, lots of business owners find that successfully adopting a social media plan can really help to increase lead conversion and to attract new customers to your company. It’s also a great way to get ahead of your competitors as strong social media campaigns have been shown to effectively contend with most traditional marketing methods. So, if your competitors aren’t already on Twitter and Facebook then you’ll be able to get a good lead on them.

Once you are on various social media platforms, you need to make sure that you are using them in a beneficial way. Here are some ways you can do just that.

Appeal To Your Target Market

Your company will have a very specific target market, and it’s this group of people that you need to appeal to with all your social media posts. After all, social media for car dealers will be a lot different than social media for florists, as each industry’s target market will be so different. If you aren’t targeting the right one, then potential customers won’t be seeing any of your posts. Instead, they will be falling on deaf ears.

Choose The Best Platforms For Your Business

You should also decide on which of the social media platforms will be the most beneficial to your business. For instance, Instagram is a great tool for bakers and fashion designers as it gives them a useful platform to showcase their products. However, this may not be the best social media site for businesses that do not create aesthetically pleasing things, such as marketing agencies. So, you need to consider which platforms are the best for showing off your company.

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Interact With Your Followers

All of the best social media accounts have one thing in common: they all interact a lot with their followers! The more you interact, then the more people will be engaging with your account. This makes it a lot more likely for other social media users to stumble across your account, as they will see that mutual followers have been interacting with you. Not only that, though, but it will prevent you losing any followers who think the account may be inactive.

Respond To Negativity

You will probably see a lot of negativity directed at your company when you are on social media. Make sure you respond to all of this, especially if they are bad reviews. As long as you respond in a professional way, then you should win the respect of a lot of followers.

Analyse Data

As a business, you’ll be able to get a lot of data from your social media followers and posts. You can use this to your advantage as you will be able to figure out which kinds of posts do the best. You can then stick to posting that type of post to get the most out of your followers.

Improve your social media use for more success!

The Importance Of Professional Advice For Your Business

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When it comes to your work, nothing beats professional advice. It can be all to easy to take advice from people on the internet – the amount of people I see taking people’s advice on Facebook as gospel is ridiculous. Why would you risk your business by not taking the correct advice?

As a self employed person not a business, I don’t necessarily require certain advice however if I was to need some I’d definitely consider a company like Rigby Financial. They are an independent insurance intermediary and financial advisors who offer services for both individuals and businesses.

Something that is a must whether you are self employed or running your own business is liability insurance. You don’t ever want to risk the possibility of being sued for a slight error that could have been avoided. Should you make an error and do get sued, the liability insurance is there to cover you. Every business should have corporate liability insurance as standard – it is something you should be considering from the very start of your business journey.

It’s important to ensure that your business, its management and its employees are correctly covered under all circumstances. The term corporate liability defines a situation where a company is responsible for its own actions or the actions taken by its employees that may be deemed unlawful. A lack of action where action was required to ensure a company and its staff were correctly adhering to the law could also be included in this terminology. Corporate liability insurance, therefore, is cover that protects you, your business and its finances under these circumstances.

Adeolu Eletu

Why is advice from a company such as Rigby Financial so important when it comes to your business? Simply put, they know exactly what suits your business needs, what amount of cover you should have and will let you know the costs. Most insurers offer around £1 million as a starting sum up to around £10 million although this can vary. Corporate liability insurance does cost a lot higher than other insurance as these companies take compensation expenses into account – this could include loss of earnings, medical costs, post-care and repairs plus much more.

If you are a business dealing with the general public on a daily basis, a larger cover should be considered as they are more likely to be exposed to public liability claims. Additional cover may also be worthwhile to protect contractual obligations.

Do you have liability insurance? Do you take professional business advice?

Cost Saving Business Storage Solutions | Pallet Racking

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When it comes to running a business, you want to make sure it is as organised as possible. Mine is mainly online – mostly digital – so physical storage isn’t something I have thought too much about in the past. However, as I look to branch out into other avenues and diversify my income a little, I have started to looking into storage solutions. There are a few different ways of storing a physical inventory but I have been looking at business storage – I wouldn’t want to take any risks right from the beginning.

Proper business storage can make a big difference to a business as it ensures that all of their inventory and supplies are organised in a way that everything can be found easily. I have a few friends who run small boutiques or do reselling and they swear by proper organised storage. They all started off storing in their home or garage before moving to proper storage and often lament not doing it sooner!

A great way to manage your business storage is to consider pallet racking. This is a super smart way to manage supplies although it is important to pick the right one for your business. There’s push back pallet racking, drive in pallet racking, standard aisle pallet racking, narrow aisle pallet racking and live pallet racking – they all offer something different. All of these different types of racking are perfect for specific types of business so it is important to sit down and work out which one suits your needs.

Pallet racking allows you to completely optimise your warehouse space, maximising the space you have available. I believe it is so important that businesses choose the right storage provider for their needs that is local to them – as a business owner, you need to ensure you have professional business storage experts who can provide custom solutions to your needs and be local enough so you can access your stock easily. For instance, if you’re in Nottingham, get in touch now at WSSL website for business consultation for pallet racking. If elsewhere, find a provider local to you. Nottingham has many local businesses operating at the moment and without a proper storage unit – the productivity of the business would shrink. Nottingham includes both small scale and large scale businesses across town and if you know anyone who needs help with having effective storage – do let them know about pallet racking.

It is also key to remember that these business solutions need to work for you financially too – so make sure you are taking cost saving measures. A secured warehouse with plenty of sturdy pallet racking is a much safer option than a lock up and some old shelves – not only do you have more space in the first option but you know your inventory and supplies are always secure. Why would you want to risk your income by storing your stock any other way?

Whilst we are still in the early stages of considering to diversify our income, the information I’ve come across whilst doing my research has been extremely helpful and I’ll be letting my friends and family know who are further along in their journeys with plenty more inventory.

Do you run a business? How do you store your inventory and supplies?

The Top 11 Elements Of An Epic Email Newsletter

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Something I have been considering for a while but have yet to get sorted (even after eight years, oops) is an email newsletter. The reason I am still yet to get this sorted is that I just don’t know what to do, I don’t know what to write to make readers open my email in their inbox, not sure how to format it etc. I have taken the first steps and started setting one up but always bail out before it gets sorted completely.

Email newsletters are a great way to enhance the engagement of your business or your blog. 90% of consumers prefer to receive updates via a newsletter rather than via their social channels. I too like to take a leisurely look through newsletters, I only choose to check social media if I am pushed for time.

I’m happy to share this infographic today, detailing the eleven elements of an epic email newsletter. Do you have a newsletter? Do you implement any of these?

11 Elements of an Epic Email Newsletter - Infographic by Campaign MonitorSource: 11 Elements of an Epic Email Newsletter by Campaign Monitor
Do you use any of these elements when it comes to sending your email newsletter? Do any of these make you click on newsletters in your inbox? A must click subject line and eye-catching graphics always reel me in!