Although the small business owners surveyed by Forbes, 500 in total, do reinvest in their businesses, they’re too quick to rule out outside financing as an option.
Most of the entrepreneurs in the study by Forbes say they needed working capital to grow at a certain point. Specifically:
- In their first year, 38% of companies borrowed capital.
- In years 2-4, 29% of companies borrowed capital.
- In years 5-9, 17% of companies borrowed capital.
- Years 10-20-plus, 14% of companies borrowed capital.
If you assume you can finance your business growth needs from cash flow, you may be in for a rude awakening. Instead, be prepared to seek financing from outside sources if you need it.
If you are in need of finance for working capital, get in touch today by emailing This email address is being protected from spambots. You need JavaScript enabled to view it. or calling 085 197 5326.
