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How to overcome challenges with a business loan alternative

Small business owners will constantly face a variety of challenges and obstacles to business growth, and the way these challenges are dealt with is crucial to business success. We’ve outlined some of the many challenges that your business could be facing right now, and how a small business loan alternative can help you overcome these obstacles.

Cash flow

Having healthy cash flow is essential for any business. To help keep your cash flow in check, carefully analyse previous statistics and any upcoming events. If you don’t manage your cash flow effectively it can have a knock-on effect, limiting plans for expansion, extra staff or resources and potentially causing irreversible damage to your business.

A small business loan alternative such as a merchant cash advance can help give your company a quick cash flow boost when you need it the most.

Stock management

Business owners need to understand their target market and any seasonal trends to ensure that stock levels are kept manageable. If you do not correctly manage your stock the expense of storage, transport, insurance and cash flow issues can outweigh out the advantage.

Unexpected expenses

It’s important to plan to make sure you can afford any sudden equipment breakdowns, damage or unexpected bills without causing major disruption to your business. Merchant cash advances are really useful to cover unexpected expenses as funds are accessed quickly and repayments are so flexible that you’ll hardly notice them.

Seasonal peaks and troughs

A range of different factors such as seasonal holidays, weather, celebrations and political issues can influence or disrupt a company’s trading cycle, which can lead to cash flow issues. At present around a quarter of UK businesses fail to plan financially to see them through any potential seasonal disruptions to trade.

Applying for Quick Capital’s business loan alternative is so simple that it can be completed over the phone in a matter of minutes, you don’t need to provide a business plan or wait around for the approval of a bank loan.

Business improvements

There’s always room for improvement in any business, whether it’s expanding your premises, updating your technology/systems, or adding vehicles to your fleet.

With the help of a merchant cash advance from Quick Capital Keith from Fulflood Gallery and Framing was easily able to transform his company. “I found Quick Capital’s service straightforward, everything was done over the phone and the funds reached my bank account quickly which was really important at the time.” Maybe use a picture of Keith within the blog at the side of his statement?

Tax bills

The amount of businesses in corporation tax arrears is continuously growing as many companies have less cash to pay their tax bills. Small businesses are particularly at risk because of their unstable cash flow.

Economic uncertainty

With the confirmation of Brexit and the announcement of a general election, economic uncertainty in SME’s home market is see as the largest threat to their business. Over one third of SMEs based in the UK have also identified uncertainty in their European export markets as a leading threat to their business performance. The recent business rate revaluation has seen rates soar in some parts of the country for business owners. With a merchant cash advance, repayments are flexible in line with your card turnover. If you’re uncertain about finding a large fixed monthly repayment you don’t need to worry – you only pay back as you earn.

 

Quick Capital provides a simple and hassle free small business loan alternative to overcome the challenges you might be facing when trying to grow your business. If you are facing any of the obstacles mentioned in this blog, a merchant cash advance could be the right solution for you.

You can talk to one of our advisors to discuss how a merchant cash advance can help your company on 0800 3777 402 or visit www.quickcapital.co.uk

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