Working Capital for small business … avoid getting painted into a corner!
May 26th, 2011 | By Ernie Brown | Category: Uncategorized
Working Capital for Small Business needs to be organized whenever a company has evolved on a shoestring and the owner has “patched” their business capitalization needs together using anything they can get their hands on.
In saying this we also need to respect that this happens more often out of necessity than choice … but it happens every day and it will keep happening!
FIRST: My hat is off to these entrepeneurs! They are the true spirit and driver of our national economy and when I get to meet them I often times sit in awe of them as they tell me how they ‘put it together.’
SECOND: Nothing will make a loan officer’s eyes roll in two directions at the same time than when they hear the following:
- “I am not sure where my records are.”
- “My business money is mixed with personal money.”
- “I really didn’t keep any records.”
Face it: It’s not easy being human but some of us have to do it … Right? Think your bsuiness capitalization out carefully or like our friend here you will “finance’ your way into a corner!
Best off? If you are selling via open invoice terms you have a lot of choices to find a way out so why not use it? Selling accounts reeivable is a simple solution that let’s you run your company almost on a COD status: So why not use it?
One of the great factoring questions we get asked is “What are the value added outcomes of factoring?” and one of the benefits of the factoring process is sorting out records regaring how a business is capitalized.
A second value added is that often times credit card loans and/or small unsecured loans either get paid off or at least the payments get made on time. Worth while? Paying on time and reducing debt are two things banks love to see so this is definitely a good move!
Want more? Give me a call @ 1-978-256-8634 or contact me via this blog. I have clients nationwide that i have helped capitalize their business and become bankable and if i can help you I’d be happy to!
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Setting up the blog is pretty east. WordPress is good. Google offers a program as do others.
The challenge? Keeping it fed and making the postings regular. In the beginning I would spend hours as in 6 – 8 hours writing a sound article. Now I do it an hour or less – or try to.
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EB
Hi –
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EB
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But they would never do that.
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The blog is done on WordPress. Site by Dave MacDonald http://www.techfix.com.
Hi –
But yes borrowers do paint themselves into corners and the reason? Many believe that “cheap money” is the best money but if it’s not enought to run your business and let it grow? It’s trouble … thoughts?
EB
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E
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