14 Feb 2023
With the official start of spring just around the corner (it’s 20 March, in case you’d forgotten), why not start thinking about how you could give your business the spring clean it needs? The longer days and warming weather gives everyone a much needed energy boost: here are some ways you could channel some of this extra drive into refreshing your business.
For many of us, this winter has felt particularly long.
But although the economy continues to pose uncertainty for businesses, spring is something to look forward to. It’s the time when nature renews itself and people give their homes a spring clean – so why not take the same approach with your business?
Make plans to declutter your premises this springtime, whether it's your home office, shop, warehouse or another type of property altogether. Decluttering can help you and your team feel more energised and productive; after all, you won’t waste time trying to locate things. It’ll also make a good impression on the customers or clients who visit your space.
You could go one step further by redecorating, or even refurbishing your premises this spring. Is your shop layout working? Could the interior benefit from a new lick of paint? Is your furniture looking a little worse for wear? Is there the potential for an extension?
A business loan could provide you with short-term funding to renovate your commercial property (there are loans available for both light and heavy refurbishments). Light refurbishments include fixtures and fittings, interiors and flooring, while heavy refreshments relate to structural changes that require planning permission.Fund a refurbishment
Outdated or inefficient equipment can threaten your business’ productivity and growth. If business critical equipment breaks down you might even end up having to close while you come up with an alternative solution. Old equipment in settings such as restaurants could pose a health risk to customers too. Think about the equipment you use: could a replacement or addition help you to reach your 2023 business growth goals quicker?
Replacing old equipment can be costly, and many businesses just don’t have the cash to buy the equipment they need outright. That’s where asset finance comes in.
Asset finance helps you access new equipment without having to pay for it upfront. You can spread the cost of the purchase or lease it. Hire purchase is a type of asset finance that enables you to rent the equipment with the intention of owning it at the end of the term.Fund an asset
Has your marketing strategy slipped down your list of priorities?
It’s easy to neglect your online presence when you run a business; after all, day-to-day operations can be so time-consuming. But it’s important to engage with your customers and keep up-to-date with the latest marketing trends. Consider taking the following steps:
Research current marketing tools and trends
Audit your online presence: how much engagement do you have?
Create a new marketing strategy based on your goals
Boost your marketing skills by taking part in a course or workshop
Many business finance types let you use the funding for any legitimate business purpose – including marketing projects. Whether you’re an e-commerce venture or a predominantly bricks and mortar establishment, finance can help you kickstart your marketing strategy.Fund a marketing campaign
Spring – or any season for that matter – is a good time to get to grips with how your business uses energy, and to work out how it could become more energy efficient. Energy efficiency is good for the environment and your business’ bottom line. In the current energy market it’s important to identify all the ways in which you could save money on bills.
Conduct an energy audit to see where you’re spending the most money. You can get a specialist to carry out an energy audit for you; they can also help you to identify areas for improvement, such as changing the way you heat or power your building.
From electric vehicles to eco-friendly products, green finance can fund sustainable businesses and projects. At Funding Options, we have a range of lenders on our panel who have an appetite to lend to businesses committed to reducing their carbon emissions.Fund a green project
Your business plan may have also fallen by the wayside during the winter, so now’s the time to dust it off and potentially make some changes. In fact, you should aim to do this at least once a year. Businesses change rapidly, especially in times of uncertainty, and a well thought out business plan can help you to stay agile and profitable in times of crisis.
Reflect on the last 12 months and ask yourself:
How is your business performing?
What are your goals?
How much capital do you need to achieve your goals?
What differentiates you from your competitors?
Who is your audience?
How will you promote your business?
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