Almost time to say, Happy New Financial Year!!! And the question is, do you have a new year’s resolution for your business?

There is no better time to take a look at your business than today. It doesn’t matter what day today is, you should be evaluating your business every day.

In fact, that is one of the biggest challenges for small and medium-sized businesses. The initial plan and goals are lost along the way as simply running the business takes up all of your time. But, if you forget your goals then the business is simply surviving instead of thriving. It is time to step back and revisit your initial goals. That doesn’t mean these should be your new goals! It is just the perfect starting point to decide where you would like your business to be in a year, five years, and even ten years.

The Challenge with Goal Setting

The challenge with goal setting is that it can seem like an impossible task to get from where you are to where you want to be. That is why the big goal needs to be broken into viable smaller goals, allowing you to achieve the big goal one step at a time.

Of course, once you realise that you need to delegate more and focus your time on directing and expanding the business, you will quickly see that finance might be the next biggest barrier.

In order to increase market share, productivity, and your bottom line, you are going to need to invest. Let’s face it, most small and medium-sized business owners don’t have free cash to invest. But, you can turn to an online business loan specialist and get the financial boost you need.

Online Business Loan with Lumi

Lumi.com.au specialises in offering competitive finance deals and online business loans for SMEs. All you have to do is prepare a few documents before you apply.

In fact, Lumi.com.au offers the opportunity to apply for an online business loan in just five minutes. You simply follow the instructions, give the provided details and necessary documents, and wait 1-2 hours for your approval. Impressively, the funds can actually be in your account on the same business day!

If you need any convincing, here are three ways in which an online business loan can help you reach your business goals.

1. Availability Of Working Capital

If you already have the facilities in place but need to increase production and advertising to boost your market share, then one strategy could be to apply for additional working capital.

The larger your working capital the easier it is for you to pay for extra materials and staff costs, allowing you to produce the additional products and target the necessary markets. If you don’t have working capital it can be very difficult to react to market changes and opportunities, because you simply can’t pay the staff extra.

An online business loan gives you instant extra working capital, allowing you to pursue your business goals effectively. Best of all, it can be arranged as a short-term loan as boosting productivity and sales will likely quickly increase the cash coming into the business.

What are you waiting for?

Apply for an online business loan of up to $300,000, with the option to receive the funds on

the same business day.

lumi.com.au

2. Marketing Opportunities

Modern Marketing revolves a lot around social media and keeping it up to date for your business is time-consuming. You need to be on top of the latest trends, developing effective campaigns, and staying in touch with potential customers to raise the profile of the business.

It is not something that you can do part-time or in line with running and directing the business. You need to pay staff to do this properly and you need to be able to invest in campaigns.

An online business loan gives you the finance you need to raise awareness of your business and reach new markets. In short, it can be essential to the evolution and growth of your business.

3. Boosted Efficiency

The efficiency of your manufacturing and supply systems makes a big difference to your ability to supply high-quality goods when needed and adjust to changes in the market. However, in most cases, the systems were established when the business was first created and haven’t necessarily evolved with it. This often means they are not the most cost-effective or productive.

It is relatively easy to free a little time and talk to your employees. You will find they have plenty of ideas on how to improve the systems. You need to consider these and the latest technological advances. Incorporating them into your process will improve your efficiency, cut costs, and is likely to make your staff happier.

Of course, it takes money to improve systems, equipment, and even your premises. An online business loan can give you the money you need to transform the way your business operates and reach for the stars. It doesn’t just reduce costs and boost profits, evaluating and improving the systems allows you to adapt faster, capturing additional market share when the opportunity arises.

Final Thoughts

Taking an online business loan from Lumi.com.au is easy and a great opportunity for any business looking to expand and grow. It’s important to evaluate where your business currently is and where you want it to go. Providing you put in a little planning you will find that an online business loan could be a viable option and could help you to reach your business goals.

Don’t forget, a business loan should be used to ensure your company is more efficient, which includes freeing up your time to focus on the direction of the business, not the day-to-day details.

* *This content is not intended as legal, financial or investment advice and should not be construed or relied on as such. Before making any commitment of a legal or financial nature you should seek advice from a qualified and registered legal practitioner or financial or investment adviser.