They’re supported by your company’s collateral or existing assets. These loans usually come with strict rules as to what you can and cannot do with the money. Businesses choose these loans over merchant cash advances because they have lower interest rates and are easier to get. You could use a short-term loan to purchase inventory for the holidays, take advantage of an inventory deal, or cover payroll if you are experiencing a lack of funds. With only three months of business banking statements, a one-page application, and…
- If you have little experience, hiring a financial advisor can be especially helpful.
- The balance sheet is a list of your equity, liabilities, and assets.
- If you want to boost your revenue and cash flow, you can think about raising prices, reducing your expenses, or raising a line of credit.
- Our team has decades of experience and is dedicated to helping small business owners achieve success.
At tax time, the burden is on you to show the validity of all of your expenses, so keeping supporting documents like receipts and invoices is crucial. Shipping is another key piece of getting your product to customers, and failing to estimate its cost correctly can throw off your budget. Things like size, weight, location, and speed all affect your shipping costs. You’ll never be able to see every bump in the financial road ahead, but you can avoid surprises and keep your business healthy by building a solid budget and keeping track of your money. At some point in your business, you’ll likely need to buy, upgrade, or replace different pieces of equipment. Investors aren’t patrons—they’re business partners, and startups should treat them as such.
What is Doing Business As?
Sometimes pushing your business into growth mode feels like being stuck in the mud. You think you’re gaining traction but suddenly you find yourself sliding right back into the muck. So your organization has reached the point where you need to initiate a capital raise. Maybe you’ve dialed in your business model and it’s time to scale.