Every single year, there are thousands of hopeful people in this country who start off with an idea and register a business name and number. It is an exciting time for many people, and most people start with the seeds of hope with the intention of building a better and more liberated life for themselves. Sadly, most small businesses close down with a year or two.
Funding Your Business
The fact is that lots of people have great ideas for their business, so why does it so often go wrong? The fundamental problem is that successful business is about a lot more than a good idea. While a good idea will certainly drive a person to open their business doors and may even interest clients and customers, the heart of every business is capital. Without capital investment, very few businesses are able to stand up beyond one or two years at most.
So, where would you get the money to fund your new business? Most people would go to a bank or one of the big lenders, but many of these institutions are simply unwilling to look even consider new business loans for individuals and start-ups that don’t already have a good track record of success or other investments behind them.
This is perfectly understandable as a fragile global economy has certainly made these big lenders a lot more pragmatic and wary of lending out money. Of course, the end result is that many small businesses simply fail to secure the money that they need to grow.
The Easier Way to Secure a Business Loan
So, how can a new business in Australia find a lender that is willing to offer them the money that they need to grow and succeed? The really good news is that in the absence of money flowing from the traditional big bank sources, a number of smaller lenders have arisen in their place. In fact, many of these smaller independent lenders make it easy and convenient to source different loan amounts without the obvious hassle that accompanies the big banks and other institutions.
So, how might a small business use this extra money? Consider the following possibilities:
- Staff: Hiring new staff members is one of the biggest costs for any smaller business. By securing a loan, a business can afford to take on new staff or even pay third party contractors to do extra work.
- Graphic design: Many small businesses need flyers, T-shirts, and other things designed and created for them. How about a new logo for your new website designed by a professional graphic designer?
- Website: Your new business is always going to look more professional with a professionally designed website, but all of this costs significant money.
- Products: Maybe you have a great idea for a new product? The problem is that product prototyping requires significant initial investment before you can even take the idea to other investors. The seed money required for this venture could come from an independent business lender.
There have never before been as many people starting new businesses as there are now, but securing a business loan from a bank is more difficult than ever. This is where independent lenders can help.