In these times of uncertainty increasing your company revenues is essential, especially finding new avenues for profit from your existing assets and customer base. Using your access to business and commercial finance can help find the funds you need to improve your offerings and increase your turnover.
This all makes your business a more attractive prospect to new clients, customers and potential investors, suggesting that your market position is improving and you are doing more business overall.
What can commercial finance do to help you increase your revenue:
Increase your working capital
You might have the plans in place to take your business to the next level, but you don’t have the active working capital to push forward and also cover operating costs (maintenance, salaries). If you are looking bid for larger contracts needing more production capacity, increase the amount of equipment you have or operate on a larger scale in general, working capital finance will aid you in this activity.
Working capital finance usually comes as a short-term business loan to help you keep on top of business costs in the immediate period while making larger, necessary purchases to grow your business.
Expand to meet demand
If things are going well and you’ve got a lot of new customers/clients you might need to increase capacity to meet the demands of your business boom. Whatever your needs there are many different expanding business loans on the market with different repayment schedules and conditions to meet your expansion requirements.
Tool up with new machinery or equipment
Most expansions require new or upgraded equipment to help meet demand and there is a range of focused finance options to help you acquire the machinery, tools and equipment you need. Asset finance can, for instance, help you hire a fleet of commercial vehicles or industrial machinery.
Asset finance will allow you to finance these purchases within your cashflow and without making large payments upfront.
Grow into new premises
Having such an increase in custom that you need more space to manage (and keep profits growing) is an enviable position for a business. Maybe you can’t accommodate all the bookings you have in your restaurant, you need more storage space or larger warehouse for all the stock you are selling, or your team could have doubled in size to meet demand. Whether you need funds for buying premises or need finances to cover the first period of rent until the profits catch up with the outlay, there is a form of commercial property finance to suit.
If your business is ready to expand, develop or change to increase profits but you don’t have the necessary capital available to push the button, it doesn’t need to hinder your success. Business finance is available to cover you while you make the changes to increase your revenue and take your business forward.
With so many options available, and some less than favourable deals, it is recommended to speak to experts in the field to advise you and drive you towards the best finance options.