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12/05/2017

Small loan, big impact

by Heather Abrahams

A small loan invested wisely can provide a significant boost to your company. Whether it is £5,000, £15,000 or £50,000 micro business owners can make a big impact on their profit by investing in the right areas. Getting value for money is key, so here are a few ideas to help:

Diversify

Diversifying is an excellent growth strategy, it allows you to have multiple streams of income that can often fill seasonal voids and, of course, increase sales and profit margins. Investing in complementary products or services (however small initially) can help make a big difference at the end of your financial year.

Free up your time

No one is more passionate about your business than you. Hiring someone you can delegate admin jobs to can free you up to concentrate on the essentials of promoting and enthusing about your business to others. Even part-time support can help you drive your business development forward.

Ramp up your local marketing

You don’t need six figure budgets to promote your business and increase sales. Whether its press, paid advertising, online or events you can achieve great results on a relatively small budget by running local campaigns that focus on niche groups. If you don’t have the in-house resource then remember small marketing agencies or consultants are out there at affordable fees.

Online/offline make over

First impressions always count. If you run a shop then refurbishing your premises can help you stand out on the high street and attract more customers. Similarly, online you need a decent website to impress potential customers. A slick and easy-to-use website will help generate more leads or increase online sales.

Finance Wales can help make your micro business mighty range of loans from £1k to £100k!. Click here for more information.