Month: June 2020

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Buying an Existing Business

5 Tips to Consider Before Buying an Existing Business – Our Guide

One of the best ways to start the road to becoming an entrepreneur is to purchase an already existing business. This way, you can avoid the hurdles of starting a business from scratch, such as doing market research, product development, customer profiling, and branding.  While buying a prospective business from the get-go is an enticing…
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SMEs in Australia

SMEs: A Significant Contributor to Australia’s Booming Economy

There is no denying the value lent to an economy by massive corporations. However, SMEs (small and medium enterprises) have since risen to become a third of Australia’s Industry Value Added (IVA) sector and contribute to nearly half of the total employment in the country. Australia’s most agile and innovative entities have been smaller companies,…
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business loan

5 Challenges New Businesses Face & How to Overcome Them

The giant companies of today were once startups. Every business starts somewhere, and your future Fortune 500 company won’t exist if you don’t first persevere as a small business first. The challenges can indeed be daunting, and many new companies often burn out before even getting off the ground because of inadequate planning and execution. …
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Surviving Peak Trading Season

Surviving Peak Trading Season: A Guide for Business Owners

The holiday season might be a fun and enjoyable time for many people, but this is not always the case for most owners of small and medium-sized enterprises (SMEs). This time of the year is the peak trading period for various businesses. Because of this, instead of taking some time off to bond with their…
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Unsecured Business Loans

The Advantages & Disadvantages of Unsecured Business Loans

When talking about business loans, many people first thing about having to put up collateral. This is mostly the case when borrowing a significant sum, causing borrowers to worry that their assets might put at risk. However, some loans do not require any type of collateral at all. These are called unsecured loans. If you’d…
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secure business loan

Unsure How to Secure a Business Loan? Here’s How to Get One

Starting a business is often difficult when it comes to the funding aspects of it. Figuring out what you want to sell or offer to the local market is the simpler part. What gets complicated is how to get it rolling off from an idea to a sale-ready product or service. The easiest solution to…
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Financial Budget

How to Make the Most of Your First Business Loan – 4 Practical Ways

Every business gets confronted with financial challenges. Whether you’re starting a small business or something unexpected comes along your way, obtaining your first-ever small business loan can help you out. You secured all the paperwork, submitted your loan application, and got approved in just a matter of days. As the fund is finally released, it…
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person holding credit card

Credit Scores: What Are They & Why Are They Important for SMEs

As businesses prioritise what they earn, they sometimes tend to overlook what they spend. Credit scores can mean more to an SME than you think, as securing funds in accordance with the changes made by the Banking Royal Commission is becoming increasingly difficult. If such is the case for your business, having a good credit…
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