Mrs Mummypenny

Healthy wealth, body and mind

  • Wealth
    • Financial Planning
    • Money Saving
    • Making Money
    • Personal Finance
  • Body
    • Weightloss
    • Nutrician
    • Fitness
    • Health
  • Mind
    • Coaching
    • Wellmind
    • Hypnotherapy
  • Lifestyle
    • Food & Drink
    • Dining Out
    • Travel
    • Fashion
    • Beauty
    • Interiors
    • Blogging
    • Small Business
    • Parenting
      • Football Mum
      • Days out with children
      • Funny
      • Experience
  • Podcast
  • Work With Me
  • About Me
  • Shop
    • Products I Love
    • Jewellery I Love
    • My stationery obsession!
    • Books I Love

in Money Saving· Uncategorized

When is the right time to get a small business loan?

When is the right time to get a small business loan?

While taking out a loan can seem scary at first, there are many good reasons for doing so – especially if it’s to make your business successful. Whether you are about to take the leap and open your own business, or you are thinking of expanding what you have built so far, it could be a smart idea to get a business loan. So, when might you need to consider borrowing money for your business?

If you are about to start your own business

If you are planning on starting a business, you may need to consider a small business loan so that you have every chance to hit the ground running. You may need to pay out for professional fees such as accountants or lawyers, insurance costs, staff, equipment and supplies – and much more. Give yourself the chance to be successful from the get-go by ensuring that you have enough cash to cover everything you need.

If you are wanting to grow your business

Have you outgrown your initial office location? Are people queuing out the door in the morning to get a coffee from your café? Are your products so popular that you have been considering developing more?

If so, well done you!

If you have a successful business in one location and are thinking of expanding it, you may need to borrow money to fund the expansion. A small business loan could give you the opportunity to grow enormously.

If you are looking for new talent

Are you looking for some fresh ideas to be brought to the table? Do you think some new talent would help you your business to grow even further? New opinions can be so beneficial for a company – after all, strong employees mean a stronger business!

If you are in need of new equipment

You own a successful business, but you know it could be even more successful if you invested in new, state-of-the-art equipment. Instead of wondering what might have happened if you chose to invest in it, opt for a small business loan to cover the costs. You’ll soon see how this decision helps to improve productivity and profitability.

Ensure that you forecast exactly how much you need and when to make your business victorious.

 

Filed Under: Money Saving, Uncategorized

« Proven Tips for Finding a Good Treatment Centre
Monday Money #78 Save even more on Black Friday »

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search:

Welcome to my website. I am Lynn James, personal finance expert & founder of Mrs Mummypenny. I write about personal finance made simple, lifestyle choices that will save you time and money, as well as products and services that offer great value.

Follow us

  • facebook
  • twitter
  • instagram
  • pinterest
  • linkedin
  • youtube

Subscribe:

Subscribe to my mailing list here and receive a fabulous budget spreadsheet and my ultimate top tips to save you £1000

* indicates required
  • Disclosure
Top 10 money blog 2018

Copyright © 2019 · Market theme by Restored 316