As a business owner, you will be well aware of the need to have enough cash in your business to keep it moving forward. Improving your cash flow is only going to help you to be a better business leader, and you can always use a bigger number on the positive side of your income and expenditure forms! It’s obvious that you accomplish this by selling even more of your goods and services, but you also need to do more than that. You are a business leader and a cash injection can make your business grow toward fulfilling its goals that you laid out when you began.
The question is where you get that money from – especially if the cash injection comes before your sales numbers move on up. There are so many ways you can add a little more money to that cashflow train of yours and below, we’re going through them all so that you can get that boost you needed.
- Sell Where You Can. Stocks? Bonds? Sell My Annuity? All valid and valuable options for your business to have a cash injection. It’s always a risk to use personal funds for business money, but if it’s an option for you and you are comfortable with it, then go right ahead and chat to your business manager about it all. You need to think carefully about using your personal funds here, but it should work out just fine and you can sell those for your cash back.
- Get Granted. Have you looked into your options for business grants? Many people forget that there are options out there for their businesses and you can get grants by area, industry, age of business or even those that offer you more money just for hiring young people to raise them through the ranks. Speak to your local area government and look into stimulus packages available for job creators. Those roles are there if you look into them carefully, and if you’re willing to consider hiring further afield you will always get a smaller cash injection there, too. Sure, the paperwork is awful for grants but without them, you can’t inject more cash into your business for free! If you are a job creator in your area, you’ll find more grants available there, too!
- Sell Your Debts. Did you know that banks love to buy your debt? Sure, it’s what got most of the world into its current economic shower of sh- well, you get the point, but banks need loans to survive. If your loan repayment history is good, you could qualify for another that will pay off your current small business loan at a much lower rate than which you are used to. Shopping around for a good deal is smart but it’s no guarantee you’ll get one. You need to make the effort to investigate new loans with the bank.
Your business deserves a big ol’ boost. Use what assets you can and boost your business bigger than it ever has been before!