Category: Business Advice

How to negotiate with banks to get finance

17 August, 2012

When it comes to fulfilling a financial requirement for a business, be it short term or long term requirements, bankers remain the main source of finance and expansion. However, because a bank has the money and the businessman wants or needs it, in most instances this leads the businessman believing that he or she has no leverage to bargain for a loan. They literally throw themselves at the feet of the banker. But this need not be the case.

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Competing with small businesses

15 August, 2012

Competition is good because it gives you the opportunity to learn from each other and further expand your business. However, overtaking competition can be a warning sign that you are doing something wrong, or that someone else is doing something different that is attracting customers. You, as a businessman must view competition as a time to introspect and investigate. The good thing is that you know who your competition is. So, you can study them and their activities and see how you can improve your already existing business.

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How to ensure your credit history stays clean

8 August, 2012

Your credit history determines your credit score. Your credit score, in turn, allows lenders to determine if you are eligible for future loans, and if you are, how much interest you will have to pay. Credit scores play a major part in lenders verifying whether you are capable of repaying a loan or not, especially with large loans where security isn’t involved, such as most common loans for business, or unsecured personal loans. Therefore, you should ensure that you always have a healthy credit score. But how do you ensure that your credit history stays clean?

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What is needed to start a business?

3 August, 2012

In order to start a business you will need an idea! It all begins with an idea and you may already have one. Next you will need to sit down and plan out how you will realize that idea. You will definitely need finance and some help form family and friends, perhaps you will need a business partner or the expertise of a person who will help your business idea grow. However, the most important point is planning and preparation.

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Tips to Getting Finance to Start a Business

25 July, 2012

Times are quite hard in terms of economy and starting a business could be a problem. The biggest problem is that the most capable minds at times do not have enough money to invest and they desperately need to get finance. However, you cannot just go to anybody and ask them to lend you some money as there are thousands of young minds having big dreams in their eyes and hoping to get finance. You have to show them that you are ahead of all of them and therefore you deserve to be financed. After all, they too need to be paid back along with the interest. Below are some tips to getting finance to start business.

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How to get a Business Loan

20 July, 2012

Starting any business needs investment and you can arrange the investment money by taking a loan. Unfortunately, lenders are becoming very cautious in giving loans as most businesses are not able to survive these days. Obviously, the lender should have confidence in your business otherwise s/he will deny your loan application. So what can you do to earn his trust? Here are some tips that will help you in getting loans for business.

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Tackling Business Issues The Appropriate Way

13 July, 2012

Many people go into business hoping to ascend to the top echelon smoothly and with no much challenge. This is the most dangerous expectation to have before starting a business. Any hopeful business must have a way of dealing with business issues that may arise in the course of conducting their businesses. Business issues have many sources. They could spring from the system, government authorities or legislations, employees or the general business environment. The unexpected will always come; the difference comes in dealing with it. Those who make it in business have one thing in common; they are always prepared for the unforeseen well in advance. Develop the attitude of looking at challenges as stepping stones and difficulties as opportunities.

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Dealing With Business Issues

6 July, 2012

Why do you face problems in your business?

Running a business is easier said than done. As the age-old proverb says “the grass is greener on the other side”, the same logic applies to running businesses successfully and for long periods of time. There are a number of things which must carefully be considered and evaluated, before going in for any business activity, big or small. The market is becoming extremely competitive and as per statistics and studies, it has been found that almost 5 out 10 businesses are not able to move into their second year. Furthermore, only 2 out 10 businesses are able to run successfully after 3 to 5 years of their commencement.

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Where to get loans for a small E-Commerce business?

4 July, 2012

Those who wish to start a small E-commerce business must have faced the trouble of getting loans for their business. Usually the interest rates of banks are quite high and not affordable. Approval conditions are also very strict and online businesses usually do not qualify it. Luckily, alternative methods of obtaining small business loans in Australia are available.

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The Viability of Small Business Bank Loans

29 June, 2012

Many potential entrepreneurs are hampered by one major factor, insufficient funds. There are several viable options that one can resort to raise funds to set up a new business. Some common alternatives include floating personal savings into the business, borrowing from a few friends and family while relying on the existing trust that you will repay once you start recording profits or significantly, knock on the doors of banks for a loan.

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