It’s often said, if wishes were horses, everyone would ride. But wishes are no horses; hence many are not riding. And one may be tempted to ask why all wishes are not attained. Anyway, part of the reasons may be that horses are costly to acquire and expensive to maintain, (home-stable, feeding, inconvenience of droppings, work-out), among others; and so are many other things in life difficult to access, depending on individual differences and family background. Be that as it may.
Meanwhile, our concern is targeted at positioning our businesses: Micro, Small and Medium Enterprises (MSMEs) for financial help: equity finance, loan, debt relief), among others. Being able to get financial help for our businesses will depend on many factors as the primary aim of every investor is to get back his money, make some profit from his investment, be happy to have helped someone’s business grow, make a name for himself or brand and raise his status bar, and so forth.
Accordingly, for any business to be able to attract the right financial help, certain things will have to be put in place. It is therefore, important that such a business lays a solid foundation from the beginning. Laying good foundation starts from getting experts in the business field for the right advice for the business structure during registration. In that case, the business will be saved from a shaky take off.
Apart, keeping good records of business proceedings will help. In this case, an intending investor can easily look into the books to make informed decisions regarding the particular business. Failure to maintain a clear financial record will make the business look unserious and unattractive to any investor.
Again, it is important that our businesses pay tax as a statutory requirement, correctly and as at when due. Failure to do so will translate to tax evasion which is punishable by the law and will accumulate penalties in future. Besides, no investor will feel comfortable to do business with any tax evader, for obvious consequences.
In addition to all the above, the banks also help to keep monthly financial statements. That means our businesses should be registered with the banks so they can help us keep our financial records straight. A good book-keeping will also require auditors to examine the books during a financial year, if we really want our businesses to grow. In this case, as professionals, they would be able to advise us on the financial health of the business, so danger can be avoided.
Concluding, personal packaging and self-presentation are very important; as well as business packaging. We should package ourselves and businesses to the level of financial help we expect to attract. When we do the right things, we get the right results. The capital base and financial transactions will determine the value of the business, which is the investor’s interest. It is one thing to raise capital for any business and another, to nurture the business to growth and success. It makes good sense when we struggle to raise equity for our business and also work hard to sustain it, rather than see it go extinct for what could have been avoided from the planning and formative stages. Getting the right financial help will, to a large extent, depend on the structures we lay down, in life and in business. We need to position our businesses in the right order so they can attract the needed financial help: capital, loan, investment, finance, and debt relief among others. The time to think and act is now; these are life and business essentials, so let’s keep thinking clearly. Thank you for reading and do have a beautiful day!
Your suggestions, comments or contributions are highly appreciated.
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