Can You Afford Office Space?

Putting your dream into reality and starting your own business is an exciting time filled with planning and decision making. One major decision to consider is just exactly where your business will be located. For some, retail or office space is a must, but for others almost any space can work.

Wi-fi, laptops, Google Voice, and cloud storage, among others, make home offices more doable than ever and may be a great place to begin. Meeting space can be a challenge, but most communities do offer solutions. The public library often has meeting rooms wi-fi available. Call in advance to reserve a room to ensure it is available for your appointment time. Community centers are another option. Even hotel lobbies can work. Some lobbies have tables and wi-fi making a small meeting possible.

Another option to consider is shared space. There may be a local business with more space than they need who would be willing to rent the space out or even barter for the use of the space. There are also office suites specifically established for business owners to rent time/space and are equipped with computers, wi-fi, phones, printers, fax, etc.

If these options are not for you or if you have outgrown them, then renting or buying office space may be what you need. Speak with one of the business consultants at National Business Capital to see if one of our financing programs can help fund your space.

Isn't It Bad To Use Credit?

With the economic crisis our country has faced during the past few years, there has been increased urging to stop the use of credit. If you can't pay cash, don't buy it. While this may be good advice on the personal side, it usually is not prudent on the business side.

Nowadays, it is hard to be successful in business without utilizing credit. A business needs cash flow in order to meet payroll, pay taxes, and cover scheduled payables such as mortgage, electric, etc. Therefore a certain amount of liquid reserves should be on hand at all times. But what if the cost to expand operations depletes the reserves? You do not want to turn business away and at the same time you don'twant the worry of not having the cash on hand to meet the scheduled payables.

Unlike personal expenses, paying for business expenses when you do not have the cash on hand can be a smart move because it may expand your business and increase your revenue. A business loan can afford the opportunity to pay for capital expenditures while leaving cash reserves available for scheduled payables and incidentals. Business can expand, loans can be repaid, and expenses can be met.

Traditional bank loans can often be difficult for small business owners due to the fixed monthly repayment plan. Monthly revenue often fluctuates greatly for retail and small businesses. A more prudent and less worrisome option might be open a line of credit or take out a loan based upon the business's receivables. The repayment plan is structured upon a percentage of the monthly receivables so that it fluctuates along with the income.

National Business Capital has expert business consultants on hand to discuss your specific situation. Give us a call to learn what options are available for you.

Is NOW the Time to Expand Your Business?

The beginning of a new year is often an exciting time filled with motivation and big goals. As a business owner, one goal for 2013 may be to expand your business. How do you know if this is the right time?

• So far, so good. You implemented your business idea and have had success. Before expanding, it is important to look at the structure of your business. The expansion should bring increased business. Will your current structure be a successful model to handle the increase? Will you be comfortable delegating work to employees? Can you restructure to streamline operations? What factors need to be considered before the expansion?
• Look closely at the reasons you are considering the expansion. Has there been an increased demand for your product or service? Has this increase in demand been over a meaningful period of time? A short spike in business overall or from one particular customer may not be reason enough for the expansion. Look for clues that the increased demand will continue for the long run.
• Take a look at your competitors. Will your business be able to compete with larger businesses that may be able to offer more competitive pricing? 
• Is bigger really better for YOU? How will you measure success in owning your own business? Is it by the number of customers and employees that you are responsible for? Or is it the personal relationship and traits of a small business that will bring you pride and happiness? Increasing your business may mean that your responsibilities now lie in administrative work when your real passion is actually doing the service your business provides.

After careful consideration, do you feel benefits outweigh the risks? If so, call National Business Capital and speak with one of our expert business consultants to learn about our financing options.