These days, it seems that any product you can think of can be found for sale over the internet. But that doesn’t stop thousands of people every day around the world from embarking on their own business ventures doing just that.
Do your planning
There are many advantages to setting up a new enterprise and basing it around a website. Firstly, it is easier than ever to develop a website to showcase a product. So provided you have done a good deal of research into what you intend to sell, and are satisfied that there is demand for it which you can help meet, it can take a matter of days, or even hours, to get yourself a virtual shop from which to start selling.
But before you get to even this stage, you will need to consider how you will source and buy the products you want to sell. No one owes you a living, and so you may have to devote considerable time and efforts to tracking down a source for the products you intend to sell which can offer them to you at a price which makes it worthwhile for you to go into business selling them on.
This situation is different when you have a product which you have devised and intend to produce yourself, but in both instances, it is likely that you will need an initial injection of capital funds to help get the process of setting up your business rolling.
Most of us are well acquainted with dealing regularly with banks. And even more so, to the fact that, as a result of myriad flaws in the finance sector, they are now much more cautious about the circumstances in which they will lend people money to help start up a new, unproven business.
This, in turn, is meaning that people are having to become more creative in their searches for funding which can help them take the first steps to realising a business dream. Many may have possessions which they can sell to help them on their way. But when it comes to meeting a number of unavoidable expenses which have to be incurred even before any income has been received, then a flexible, short-term financial solution is probably what’s required.
Changes on the horizon
Thankfully, this sector of the finance market is itself undergoing something of a revolution. Businesses are being formed with the express aim of providing an initial boost of funding which will help meet some of the expenses of taking those first steps into business.
Among the items or services for which such funds could come in useful are: early marketing activity, such as the production of that initial website, or an advertisement in a local newspaper; the purchase of the first batch of stock; obtaining legal advice about what form the business should take; and any adaptations needed to make premises suitable for their intended use.
These will all be considered sound reasons for wanting to borrow money, yet still may not be enough to satisfy many mainstream lenders’ strict criteria. So if approaches to these fail, there is no need for that to permanently put an end to any business dream – alternative sources of finances and advice are out there, and it may simply take the use of a little business nous to find the right one.
- License: Creative Commons image source
This guest blog was contributed by Jane Willis a freelance finance blogger who wants to help you get the best deals on an unsecured business loan.