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Four strategies to strengthen your start-up after launch

After the first few months of (we’d expect) frantic activity starting up, it’s useful to take a breath to assess what went right and what you need to tweak going forward. It’s also recommended to secure the initial success of your business by switching from ‘start-up’ to ‘existing business’ mode as fast as you can.

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Sources of small business funding

Once you have determined how much funding you will require to start your business, decide how you will raise the capital.  Choosing the right source depends on what you intend to use the money for, how much you need, what the alternatives are and matching the source of the funds for the use.  

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An overview of SBA loans

The Small Business Administration’s (SBA’s) loan program is designed to help small business owners get the financing they need to run their business. While many small business owners likely know about the most common loan, the 7(a) loan, there are other SBA-backed loans available for small businesses.  

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Calculating the cost to start up

It’s often a good idea to determine how much money you’ll need to start your business, long before you intend to launch. Think of it as a reality check, as even if your business seems like an amazing idea, it’ll only succeed if you can find the funds to get going.   

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Improving your profit margin

Increasing sales might make more profit for your business. You could open new locations or target new regions or spend time on selling more to your existing customers.

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Understanding and improving working capital

Working capital is the cash you have each month to cover any expenses. If your overheads are $100,000 a month, and you want 3 months in advance at all times, then your working capital requirement is $300,000.

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