For many business owners, funding can feel like the magic solution to every problem. It can help solve your cash flow problems, reignite stalled growth or restart delayed expansion plans. But the wrong type of funding, taken at the wrong time, can quickly turn into a liability. But before you accept a loan, investor offer, or
Access to finance is one of the most persistent challenges faced by small and medium-sized enterprises (SMEs) in emerging economies. Even though they are the backbone of local economies, funding options for SMEs in emerging markets often remain limited. The World Bank estimates that the global finance gap for SMEs in developing countries exceeds $5 trillion.
What is bootstrapping? In business, bootstrapping is the art of self-reliance. It means growing your business without relying on external funding, loans, or investors. Bootstrapping isn’t just a financial strategy. It is a mindset that champions creativity, resilience, flexibility and strategic focus. It combines a commitment to increased profits with a dedication to efficiency and
Many small and medium businesses have cash flow problems. One of the reasons why this happens is because there is not enough money flowing into the business. This could be because the business isn’t selling enough products or services to customers. It could also be because expenses have increased while income – sales – have
Are you struggling to get your cash flow under control? Consider taking a look at your inventory management. Inventory management is a key – but often neglected – area that affects your cash flow. There are many other ways to increase the cash flow in a small business. Making smart moves in inventory management will
Today, I want to talk about how to do the best possible preparation for a loan application. You will need to have a good business plan and good financial records. You also need to know how much money the bank may be willing to lend to you. And you should be aware of the additional
In a previous post, I showed you how banks calculate what they are willing to lend to you. I also showed your how how to do your own calculations so you can have an idea of how much money you will be able to borrow. There are also other factors that determine if a bank
When they are deciding whether to give you a loan, there are 2 main things banks want to know: Does your business have enough cash flow to repay the loan every month? Will you be able to do repayments on time? In a previous post, I gave you an overview of the various sources of
Banks are not the only place to get money. Today, I will discuss 12 sources of funding. I will start with those that are of interest to small businesses and finish with those that are of interest to larger businesses. In another post, I will explain how banks decide how much money to lend to
In previous posts, I talked about the official and the alternative approach you can follow to start a business with limited funding. There is one more topic I want to cover at this time. I want to give you examples of businesses that do not require a lot of funding to start. This list can
In a previous post, I wrote about one way to start a business when you have limited money available. That approach, the official way, consists of the following steps: Find out the gap in the market Look for a business that does not require much money to start and operate Maximise your sales and give
First of all, I just want to say: WOW! I am overwhelmed to see almost 1000 people responding to Guide My Growth asking for advice in just a few days. Thank you for your trust in me. Many of you are asking me how to start a business with limited funding or how to get
