My WordPress Blog Thu, 21 Feb 2019 17:07:06 +0000 en-US hourly 1 Find your business loan Thu, 21 Feb 2019 17:07:06 +0000 It costs money to make money. This applies to most entrepreneurs.


That is why many entrepreneurs work in a situation where they have little liquidity. Whether it concerns the exploitation of finances or investments in new machines, buildings, staff, etc. In such cases a business loan will help. However, it can quickly become an expensive business to borrow money. That is why has made a comparison of the market, making the search for the best and cheapest company loans in the Netherlands more transparent.

Compare and find the cheapest business loan

Most people who start their own business outside their comfort zone. You say goodbye to the safety of a fixed monthly salary and suddenly you only have a limited idea of ​​what tomorrow will bring. This is also the reason why the start-up phase is such a good learning period, this period brings both negative and positive experiences. The same applies when you search for the best and cheapest business loan for the first time.

That’s why has created a manual for you so that you can find the business loan that best fits your business needs for the right price.

This is how you find the cheapest business loan

Searching for the cheapest and best business loan – whether you are doing this for the first time or if you already have experience with this – is simply not something you can take lightly. A loan that has a low interest rate in the first instance does not necessarily have to be the cheapest.

The loan can still be subject to high rates, taxes and other hidden costs. A low interest rate does not automatically mean the cheapest loan.

  • Master the concept of the interest rate

The interest is the compensation you pay so that you can receive a loan. Normally, the nominal annual interest is specified in the loan agreement. However, the nominal annual interest rate can not include all costs, because interest can be charged on interest, or “compound interest”. In addition, the interest on a loan can also be variable or fixed. A better measure that you can use to compare loans is the effective interest rate, also known as the “annual percentage rate” or APR.

Read more about the different forms of interest and what they mean  

  • Check all rates and taxes

When you want to find the cheapest business loan, it is not enough to compare only the interest rates. A loan can have a low interest rate but high closure costs, advisory costs and / or other costs. Your business loan with low interest rates can easily turn out to be more expensive than a loan with a higher interest rate just because of the costs.

  • Annual cost percentage

The annual percentage rate (APR), also known as effective interest, indicates the total cost of a loan. When calculating the effective interest rate, any compound interest, various settlement moments and extra costs of a loan are taken into account, all elements that are not shown in the nominal interest rate. It is legally required in the Netherlands to include the APR in the loan agreement

  • Compare the total costs

Although the APR is an excellent indication of what the loan costs per year, if you want to compare the total expenses for different loans, you will also have to take the duration. The rule of thumb is, the longer the term, the higher the price will be for a loan. You can therefore save considerably if you opt for a loan with a shorter term.

  • Short term

The sooner you pay off your business loan, the cheaper it will be for you. This means that you can, among other things, benefit from a temporary loan if, for example, you have a short-term liquidity problem (such as when financing operational affairs or when starting up new companies). That is why it is important that you, while reading the terms and conditions of the business loan, examine whether you can redeem your loan prematurely at no extra cost. There are lenders in the industry that will charge you all the above costs, even if, for example, you repay the loan three months early.

Finally, the best advice is for anyone looking for a business loan: Never lend more than you really need!

If you can not repay your loan within the agreed term, the loan will become an expensive business. In that case, the lender has the right to charge you for delay fees and any collection costs.  

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7 Ways to Make Your Business Thrive in Hard Economic Times Tue, 19 Feb 2019 12:26:11 +0000


Decline in consumer confidence and falling sales threatens all businesses, but small businesses are particularly vulnerable, as they often do not have the reserves to help them turbulent times. Does your company, for example, have a plan for what you do when / if the next big financial crisis soon hits?

So how can you secure your business financially? Implementing these methods will help ensure the survival of your small business and even allow it to thrive in tough economic times.

1. Protect your cash flow / cash flow.

1. Protect your cash flow / cash flow.

Cash flows are the lifeblood of your business; To keep your small business healthy, money must continue to enter. Now, no matter how difficult times there are, having cash flow in your business is crucial to this.

As long as your business exists, you will have expenses. But the greater the setbacks, the harder it can be to continue the cash flow and thereby your company’s income and survival!


2. Review your inventory management practices.

2. Review your inventory management practices.

See what can be done to reduce storage costs without sacrificing the quality of goods or disturbing customers. Do you order for many specific items? Can a product be purchased somewhere else for a better price? Is there a drop shipping option that will work for you, eliminating freight and storage costs?

Just because you’ve always ordered something from a particular supplier or done things in a certain way doesn’t mean you have to keep them that way – especially when the other ways can save you money.


3. Focus on your core competencies.

3. Focus on your core competencies.

I have seen many articles on diversification as a strategy for the success of small businesses. (I’ve even written some of these articles myself!) But too often, small business owners simplify the concept of “diversification” to “different”.

Just adding other products or services to your offers is not diversification.

At best, it’s a waste of time and money.

Worse, it can damage your core business by taking your time and money away from what you do best and / or destroying your brand and reputation.

Delete the extras and focus on what you do best, which is most profitable for your business.


4. Develop and implement strategies to get your competitors’ customers.

4. Develop and implement strategies to get your competitors

If your small business wants to thrive in tough times, you must continue to expand your customer / customer base – and that means drawing customers from the competition.

How can you do this? By offering something more or something other than the competition does. Examine your competition and see what you can offer to entice their customers to become your customers.

Providing better customer service is often spied on as one of the easiest ways to expand the competition.


5. Make the most of the customers / customers you have.

We have all heard the old saying that a bird in the hand is better than 10 on the roof. The bird in hand is your customer and he or she is an opportunity to give more sales without incurring the cost of finding a new customer. Obtaining new customers is more expensive than servicing current customers.
He or she can be a loyal customer, giving you many more opportunities.


6. Continue marketing your business.

Get time for the family – even in financially crowded times – without working yourself half dead!

In lean times, many small businesses make the mistake of cutting their marketing budget into the bone or even eliminating it altogether. But lean times are exactly the times your small business needs most marketing.

Consumers are restless and seek to make changes to their purchasing decisions. You need to help them find your products and services and choose them rather than others by getting your name out. So don’t stop marketing. In fact, if possible, increase your marketing efforts.

Getting on the social media is a very economical way to expand your marketing.


7. Keep your personal finances and credit in good shape.

7. Keep your personal finances and credit in good shape.

Hard times make it more difficult to borrow and small businesses are often among the first to disappear. With good personal credit you will have a much better chance of borrowing the money needed to keep your business unattended if you need it.

If you are retired, keep track of your personal credit rating and your business and do what is necessary to keep your credit ratings in good shape.

There is absolutely nothing that will make your small business one hundred percent financially secure. But the implementation of the above-mentioned recession-proof proofing practices will help ensure that your small business survives hard times and may even make money from them.


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