We all know the phrase, "It takes money to make money", or "You have to spend to to get". When money is tight it is sometimes hard to see why you would spend it and how it expenditure can turn into income.
We have come up with the top reasons why you might need working capital to keep your business moving growing;
Cashflow flow assistance
Cash is King. What can be more to said? You need enough money to fund normal day-to-day operations, regardless of how well the business is doing. When gaps occur between funds out and funds in, help is sometimes required.
Purchasing new stock
If you are running a retails store its all about stock. You need the right amount of stock in the right place at the right time or help to buy larger amounts of stock at discounted prices on better terms.
Renovating or expanding your business
Once you have started to grow, that tiny office you started with in your spare room is no longer big enough. You will need to increase the size and capability of your business, open another location or diversify your business by selling new products or services.
Perhaps it's time to boost productivity, by automating some processes or replacing old equipment with the latest technology to meet current and future demands. This equipment all costs money but will inevitably mean you can produce more or churn through more work due in efficiency gains.
Paying suppliers for better terms
Making upfront payments to suppliers may generally improve business relationships and provides the advantage to negotiate better terms. Great business relationships with partners, supplies and contractors should never be underestimated. Its part of your brand and work or mouth travels fast.
If you need some help with working capital, give us a call.
We provide fast, unsecured business loans with 24 hour approvals and access to funds within 3 days*. For more information please call Directline Finance on 1300 851 816.
How can we help your business today? Apply online for funds in just 3 working days.