If you are very confident that you will be able to generate high returns that will satisfy your investors, raising outside money can be a great option. The interest payments you make on debt is tax deductible, which makes debt financing an especially intriguing option for small business owners. Debt financing is the process of financing your small business through a loan, which must be paid back with interest. This includes short-term loans to provide some working capital and longer-term loans that can fund a business for years. For example, Wistia recently decided to take on $17M in debt in order to do a stock buyback and provide a profit-sharing program to their employees.
- Before requesting funding, find out your credit score and take steps to raise it if it is too low.
- Knowing how to plan your small business finances also gives you the key to making the best operating decisions in a proactive and constructive way.
- By eliminating gaps and opportunities to miss out receipts and vital information, you can protect yourself against reconciliation mysteries down the line.
So rather than blindly shopping around yourself and ending up with an unwanted outcome, let Zoom Car Loans do the hard work for you. You will enjoy working with real people who take the time to learn the ins and outs of your financial requirements. The Global Small Business Blog is a leading blog for small businesses looking to expand internationally. It is written by Laurel Delaney, author of Exporting, the Definitive Guide to Selling Abroad Profitably, and president of Globe Trade. The Smart Passive Income blog details the life and life lessons learned by Pat Flynn, a one time architect turned passive income, ebook maker extraordinaire. Entrepreneur is a worldwide brand offering articles, videos, podcasts, magazines, books, and newsletters for aspiring and established entrepreneurs.
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Your salon needs to be in a highly visible area that is easily accessible to your target market. If possible, you should find an area with high foot traffic, like in a mall or a popular pedestrian street. If you can’t find an open location in a highly trafficked area (or you can’t afford those prime leases), you may want to look for a spot along a major road where you can easily advertise to passing cars. Providing customers multiple payment options will streamline your AR process. When you make your invoicing easy, your clients should be able to seamlessly make payments.
