Business is just another part of life that waits for no one and is unaffected by circumstances or convenience. When you own the business, you are on the hook for everything that goes awry. And there are countless things that can go awry in the course of a business day.
You might also find that a traditional business loan will not serve every business emergency that comes up. There are times when you need an infusion of cash right away for the kinds of things you never considered when you first set up your business. When you start your first business, you don’t even know all the little things that could sideline your efforts. Small cash advance loans can easily get you over the hump. Don’t let the following issues leave you unable to move forward:
You would be shocked at how easy it is to get yourself into tax trouble as a small business owner, especially if you do it yourself. Personal taxes are difficult enough. Business taxes are more difficult by an order of magnitude. Try as you might to follow every rule to the letter of the law, you can still find yourself on the wrong side of an obscure regulation.
As a general rule, you still have plenty of options after getting a nasty-gram from the IRS. Take out an emergency loan if you have to. Then call a certified tax professional to help. It will usually cost you a lot less money to pay someone who can help you out of the mess than you will pay if you try to push through it on your own. When you make a marketing error, you will lose some business. But running afoul of the IRS can cost you the entire business, and a whole lot more.
It is easy to underestimate how much you will need to spend on marketing and overestimate the value of word of mouth. Many swear by word of mouth. But they also swear by lots of things that don’t actually work. Counting on word of mouth is a lot like counting on luck. You never know who is going to do business with you. They might enjoy their experience. But they also might not have any influence or care to talk to others about their experiences.
What you need is a proactive marketing plan that gives you more control over your message. You might comp a dessert for a patron one time. They might tell all their friends. Suddenly, you have a bunch of people spreading the word that your restaurant gives out free dessert. That message could hurt rather than help. You are not in control of that message.
Marketing costs money. When there are issues, one of the best things you can do is market your way out of it. You can’t do that if you have no marketing budget. Emergency marketing is a worthy use of a short-term loan.
Bad things happen to good retail businesses. Storm, fire, vandalism, and burglary are just a few. Because you have insurance, these costs will be covered after you pay your sizable deductible. There might also need to be an inspection of the property as a part of a full investigation by the insurance company before they cut you a check for the damage. You can wait for all that to happen. Or you could get a same-day loan so that you can get back to work in days instead of weeks.
There are countless opportunities that don’t come around everyday. If you have no money on hand, you will miss out on those opportunities while your competitors take advantage of them. When the right opportunity comes around, it is going to cost some money. If you don’t have it, get a quick-turnaround loan. The opportunity cost of not having a source of money at all times is a lot higher than you think.
In business, things happen that you don’t expect and for which you have no contingency plan. Sometimes, it is tax trouble, property damage, or undefined opportunity. Reputational damage is another big one that can happen faster than you think. Reacting too slowly to any of these moments of crisis can be a breaking point for your business. A quick loan can be the temporary fix to hold you over until more permanent solutions can be applied.