Promising Business for a Beginner

Being a beginner businessman is not an easy thing. You must be able to compete with experienced business people and of course their products that are known to the public. The limitations of experience that you also have are also things that can hinder the business that you are running. For that, you must choose a business that promises to be able to obtain adequate benefits.
Strict competition and limited experience will certainly make you feel worried whether the business you are running will be successful or even have to stop in the middle of the road. Actually, it is a fear that is natural for a beginner, even experienced business people can feel it. Then you must try first because you will never know whether success can be achieved before you try it.
Here are some types of businesses that promise you as a beginner:


1. Snacks

Indonesians are famous for a variety of delicious and crunchy snacks and a lot of lovers. This can be a great opportunity to start a snack business. You can bring various snacks such as chips, crackers, and other snacks. If you do not have your own shop, you can leave it in people’s stalls or do promotions through social media. Try to package it with unique packaging and naming, because this can attract customers.

2. Culinary Business

Maybe you are good at cooking? Well, opening a food stall can be a mainstay for those of you who are skilled or skilled in cooking. You can serve various types of cuisine with delicious flavors and certainly affordable prices. Culinary is one of the promising types of business that you can try.

3. Selling Business Online

Online stores are now a business that is very much loved. Because besides being easy to run, this online business also offers promising benefits. You can sell anything on social media, from clothes, knick-knacks, pants, shirts, cell phones to food. Create your own brand so that your product is better known by many people.

4. Buy and Sell Merchandise Hp

The next promising business is selling cell phone accessories. Very many cellphone users want knick-knacks for their mobile cellular comfort and beauty. Now, this can be a profitable opportunity for you.

5. Laundry business

Laundry business now seems to have become a trend on the ground. Many people are busy working until they decide to bring their dirty clothes to the laundry. Well, if you live in an area where the number of people opening laundry clothes businesses is the right thing. This business is certainly promising, provided you guarantee the cleanliness, neatness, and fragrance of the customer’s clothes.

6. Online Services Business

Maybe for those of you who like the world and have creative talent, try to run an online service business. Some services that you can offer such as creating blogs, websites, articles, invitation cards, graphic designs and so on. You can do this promising business anywhere and anytime…

Small Business Funding Approvals Hit New Heights

Small business loan approvals have recently hit new heights in the US. Are you trying to get approved for business funding to grow your company? What’s the easiest way to get approved for low and high risk business financing? Where to find the most affordable rates and fees for small business financing? Just read below and you’ll discover.

Business Funding in the US

After the crash of Lehman Brothers and the start of the Great Recession, approval rates for small business loan requests at big banks fell to the single digit range during the ensuing credit crunch.

The past decade brought changes to the market. Technology gave birth to lots of advantages for FinTech companies and they started benefiting from these advantages. They started offering loans online.

Small business owners who needed access to working capital started using the Internet to find lenders who’s like to work with them. The Internet eliminated borders among countries. Non-bank lenders started offering online application for business financing. Banks’ market share decreased.

Today, applying for business financing online is no more a surprise. In fact, alternative online lenders have brought a real revolution in the field. Only, you should find a reputable business funding provider that offers the lowest possible rates in the industry.

Also, look for a respectable alternative online lender that works with merchants of any type and seize. Pay attention to whether the provider offers you the right business financing solutions for your own specific business needs.

 

Small Business Loan Approvals Are on the Rise

According to one of the leading business financing provider’s lending index, the loan approval rate across all lending categories is on the rise. Both banks and institutional lenders witnessed new highs in June 2018.

Specifically, small business loan approval percentage for big banks ($10 billion+ assets) was 26.1{f1f1e9958b7c01cd84687e0953c28fd24e5156f3a63cdbe4dc45ac16ef2f29f1}, which went on rising and hit a new height in June 2018. This rise represented 2/10 of a percent from May’s figure, which was 25.9{f1f1e9958b7c01cd84687e0953c28fd24e5156f3a63cdbe4dc45ac16ef2f29f1}, as the mentioned provider’s monthly report states.

Particularly, such growth in approval rates have been registered at regional and community banks. They granted 49.4{f1f1e9958b7c01cd84687e0953c28fd24e5156f3a63cdbe4dc45ac16ef2f29f1} of the funding requests received in May 2018. This has been the highest figure since May 2015. By the way, many of these borrowers represent the manufacturing, transportation, and construction industries.

As for small banks, they saw growth in approval rates as well. It made up 49.6{f1f1e9958b7c01cd84687e0953c28fd24e5156f3a63cdbe4dc45ac16ef2f29f1}. The figure has been the highest point since April 2015. As to institutional lenders, the rise represented only 1/10 of a percent to 64.8{f1f1e9958b7c01cd84687e0953c28fd24e5156f3a63cdbe4dc45ac16ef2f29f1}. Alternative lenders witnessed the same growth reaching up to 56.5{f1f1e9958b7c01cd84687e0953c28fd24e5156f3a63cdbe4dc45ac16ef2f29f1} in June 2018.

When it comes to credit unions, the situation was the same as with small and big banks increasing 2/10 of a percent to 40.3{f1f1e9958b7c01cd84687e0953c28fd24e5156f3a63cdbe4dc45ac16ef2f29f1} in June 2018.

The CEO of the financing provider mentioned above notes that the continued strength of the economy and optimism that small business owners have play an important role in these results. Entrepreneurs feel confident and are making investments in their companies’ growth. The markets show good performance, unemployment is just 3.8{f1f1e9958b7c01cd84687e0953c28fd24e5156f3a63cdbe4dc45ac16ef2f29f1}, and the small business optimism is extremely high.

Author Bio: As an account executive, Michael Hollis has funded millions by using alternative funding (or business funding) solutions. His experience and extensive knowledge of the industry has made him a finance expert at First American Merchant.

Starting a Small Business and Achieving Success

Beginner companies that turn into successful companies worth billions or even trillions, in the business world are no different from lottery winners. Putting all your money and hoping to get a jackpot, you will actually fall.

Here are 9 rules for starting a small business. This list is more to make you aware of the reality than to go crazy on pursuing your greatest dream of doing business.

More realistic.

When creating a business model, look around and find a successful example of the business model you want, then learn. If you can’t find, whether you’re an extraordinary genius, or your business model won’t work in the real world.

Don’t invest your own money.

Because most businesses are risky trips, look for partners. So, if everything does not work out all the plans, you will not go bankrupt because of the start-up fund, and not be pursued by debt.

Self-slavery.

If you are not willing to work hard, over time, forget about personal and health benefits, then entrepreneurship is not for you. At first, you will definitely not be able to pay employees, even if employees are cheap. So, your employees, are you.

Appreciate time.

Rate your money for your time, for example, IDR 20 thousand per hour. This will help when you have to make a decision: If a store charges Rp. 10,000 for shipping every week, and you need 2 hours to go to the store yourself, then pay for the shipping costs from the company, because it is cheaper. This may be contrary to the third rule, but even slaves also have economic value.

Recruit employees well.

Regardless of the size of your business, you will eventually recruit outside employees. For that, do the recruitment process carefully, without hurry, and treat it as important as when you start a business. It is unfortunate that the attitude of a business owner who has a vision for his business but recruits employees who actually prevent him from achieving that vision.

Sell ​​the excess, not the price.

When you start a business, it’s only natural that you are frustrated about marketing it. But, if you compete on price, you end up selling at mediocre prices or even below the capital. Master the skills of communicating with customers, to explain that the price of your product is higher because it has better value.

Know basic numbers.

Know how much money you need to run a business – from shop rental, electricity, employee insurance, to printer ink, paper, and tax prices. Then for all that with how many days a year you will open, and … that’s the basic number – the minimum amount of income you need every day. If you never think about basic numbers, think again.

Use the latest technology.

Newer technologies such as application and data storage with cloud technology are very cheap and make small companies can compete with large companies. Take advantage of the low-cost technology that is on the market.

Treat vendors well.

Treat your vendors and suppliers as best as possible, just as you treat customers. They can offer discounts based on the volume of your order, or even to maintain good relations, and hope there will be an increase in volume in the future. A good relationship can also make them understand the late payment, even giving free shipping.…