A new year is upon us
As every year wraps up, we look to our past to propel our futures, and we evaluate how our current year went so we can improve on the next. Some will focus on a culture change, others on a marketing shift, and others on new products. But what all have in common is a desire to improve revenues. More money doesn’t mean more problems, it means more job creation and more innovation.
So what are some simple ways to make more money in 2015? No matter your business size, be it a solopreneur or a growing brand of over 400, Evan Singer of SmartBiz offers three simple, but easy to overlook ways to do just that.
First, Singer tells us to do something that many of us will cringe at, but he’s right. “If you want to borrow capital for your business and had a good 2014, file your taxes early.”
But why, Evan, why? Taxes are a thorn in our sides, so why? “Most banks will look at your tax returns to determine if your business has adequate cash flow for your loan,” Singer notes. “If you can use 2014 tax returns – that can help you get approved.”
Well that makes sense, despite the high pain level associated with not procrastinating.
Secondly, Singer asserts that “You can refinance your higher interest business loans just like you can refinance your higher interest consumer loans.”
He suggests finding an SBA lender, like SmartBiz, that allows you to refinance your higher interest debt. Professionals often make the mistake of not taking a second look at this type of option, but it can be a huge money saver for any brand.
Lastly, Singer suggests laser-like focus. “Don’t let the negative articles scare you from investing to grow your business. The economy is picking up. Unemployment is going down,” Singer said. “Now is the time to build your business!”