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If you obtain loan to run your business without the skills and competence to manage the money you will be in real trouble. Debt can be ruinous, and like you know, 80% of every new business fails within 5-10 years. So, where do you go if you want get loan to fund your business? What skills do you need to build before seeking loan? At what stage will your business be before aspiring to use loan to advance your business?
Banks and lending institutions have genuine reasons why they turn down over 70% of loan applications from micro and small business entrepreneurs. Why do loans fail frequently in the hands of new business owners? Despite availability of money in many lending institution and agencies, why do majority of potential entrepreneurs still find it difficult to meet the criterial set by these grant and lending sources? Are there other creative ways to raise money to finance your business ideas without entangling your business in loans? What are the various categories of loans and which of them is most beneficial to your small and startup business interest? How do you understand the hidden terms and conditions that make certain loans a no go for new businesses?
This book provides answer to the questions and show what to do to overcome such challenges. There are financial disciplines, setting business structures, management capabilities, and lot of commonsense practices that enable borrowers to multiply the loans collected, pay back promptly, and enjoy the huge cash flow thereafter. It teaches you the very business management techniques to organize and firm up your business practices. You need to bring your business operational methods to standard. It could be as simple as keeping records of all cash flow and financial transactions, having a mentor or realistic budget plan. The book will help you with basic knowledge in loan management in case your business may need one. Besides that, there are other funding opportunities from which budding entrepreneurs can cheaply raise capital for their startup only if they know how to look and explore such possibilities. This book identified such realities, and provide action steps to utilize them.
Ucheka Anofienem- Director, Skill Development Information System Ltd. helps business owners and organizations to expand their capacity to make money by using overlooked marketing and leveraging strategies. An Idea Creator; Breakthrough Thinker; Human Capital; and Business Development
consultant. A highly sought-after value-oriented business development strategist, an innovative marketer and impactful career trainer. Ucheka is skilled in knowledge and information transfer, and a delight as keynote speaker in seminars, conference and workshops. He is an excellent teacher that gives much more value for money paid. He helps those that need concrete money-spinning, and cost-saving ideas to move their business to higher levels.
Since 1998, he has worked to create capacity building value for organizations and clients. Ucheka is a Document Development Specialist, Research Writer, Business Coach, and Author with over fifty published works. His first degree is in English and Literature, Master’s degree in International Law and Diplomacy from the Universities of Benin and Jos respectively. Contact: 234 (0) 8164746117, Email:email@example.com