Did I hear a resounding: YES? Steve Strauss, in his latest article: Using Capital to Grow Your Business, says "The fact is that without financial capital, the ability to grow your business is severely restricted." Yet finding funding seems often to be illusive. We read posts almost daily, asking how to obtain funding.
After reading this article and perhaps taking some notes for our small business - let's share this great read with others who are looking for some funding advice.
Growth is an important factor to most, if not all small businesses. And having the tools to support that growth with funds is equally important. After reading this article, let us know what spoke loudest to you, as you go about acquiring funding.
Thanks again to Steve for another great article!
There is really no single answer to the question how you would use the additional capital in your business. It depends on the stage in which your business is in. Some businesses could do well by spending money on marketing, while others could expand by developing new products. The fact that the answers to the survey were evenly distributed amongst several categories attests to this. All are valid uses of additional funding.
BTW, interesting survey and nice article.
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