Expanding Your Business

Commonly a business will require more capital to expand. There are few ways to do this, most common are a bank loan and debt and equity finance.

The Bank Loan

All lender’s have certain criteria which need to be met before a loan is given:

§Character – this is your business performance, skills and abilities (assessed by bank manager) §Cash flow – this shows whether sufficient funds can be generated to cover loan repayments §Collateral – security against potential loss

In many cases applications for loans fail because borrower has not presented relevant or sufficient information to enable lender to understand intentions of borrower and viability of business venture.

Debt And Equity Finance

Debt finance is money borrowed by business, from an external source. This is most common way a small business raises additional funds. Equity finance is capital provided by owner or investors into business.

Planning For The Future

Some develop a business for lifestyle reasons, some use it as a means for creating income, or wealth creation in long term. Some options for future of your business include:

§Evolve – business evolves to complement changes in industry §Leave home – move to commercial premises §Sell – work to create equity §Close down – plan your exit, notify clients, suppliers and be professional about it.

I hope this article has set you on path to create your own home based business and empower you to reach your financial destiny. In next article, I will cover some of ins and outs of growing your small business from home.

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I Am Making As Much Money Part Time From My Home Business As I Was Working Full Time In My 9-5 Job. Want To Hear My Story? http://www.parttimeincome.org

Now you are ready to commit to your goal. By this I mean tell any one that will listen to you what you are going to accomplish. Stand outside and shout it in air, write it in sand at beach, put a big sign on that says I am a Goal Setter and a Goal Hitter. Don't be scared of what other people think of you, people love to pull other people down to their level. Make your goal known and strive daily to move closer and closer to achieving great success.

"I am not judged by number of times I fail but by number of times I succeed and number of times I succeed is in direct proportion to number of times I can fail and keep trying"-unknown author

Strive to set goals and hit goals. You are captain on your vessel to financial freedom, where you take it is up to you. Use your goals as a compass and you will always be heading in right direction.

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