If you are thinking of establishing a business, or you’ve already started one and you are in the initial stages, here is one of the things you have realized. You will need money. Well, okay, this is something you knew already because nobody ventures into a business without having an initial capital and without setting enough money aside. The thing is, though, no matter how much money you have already set aside, there is a great chance that you are still lacking and that you could definitely use a financial boost.
Most startup businesses don’t start earning a profit right away, and it can take years before you begin being profitable. If you don’t want to give up on your entire idea just because you lack some money, you will need to think about the financing options that you have. Sure, you could always go to your friends and family and ask them to invest, but we all know that people are usually reluctant to do that. Plus, you could definitely damage some of your personal relationships if you start asking for money, and that’s simply not worth it.
Fortunately, there is another thing you can do. You can rely on those organizations that have actually been created with the aim of helping people fund their businesses, or practically fund anything else they want, even if they do not have enough cash on them. I think you can guess what I am talking about, but let me make it completely clear anyway. In the simplest words possible, you can get a bedriftslån for your oppstart, i.e. a business loan for your startup.
Given that you are here, it is safe to say that you’ve already given this idea some thought. You have become acquainted with the option of getting a business loan when starting or trying to expand your firma, but you are not completely sure if that is a good move for you. Well, I can definitely understand the hesitation, and it is a good thing that you aren’t rushing into any of this and that you are, instead, trying to get all your facts straight before making any moves.
What you need to do here is find out if getting a bedriftslån is a good idea for you. If you are looking for the short answer, I am afraid that you won’t be happy with it. Basically, this can be a great move for certain startup businesses and at certain stages, but it can also be a poor idea for other businesses and other stages. So, if you really want to figure out whether this is a good move for you, you’ll need to hear those longer answers to these questions, and you’ll find them below.
When Is Getting A Bedriftslån For Your Oppstart A Good Idea?
Let’s say you have already built up some experience as a manager or an executive in a particular business, and you are now thinking of taking things a step further and venturing on your own. You will already have enough knowledge on how to create a budget and stick to it, and how to properly handle the necessary expenses. This is a huge advantage to have when thinking of establishing a startup business. So, if you have all the knowledge, you will only need the money, in which case a bedriftslån could be the perfect idea for you.
You will have much lower risks of getting in debt and failing to run your business effectively if you already have prior knowledge on how things work. Remember that sticking to the budget you’ve created is of utmost importance because that will either make or break your business. Of course, knowing how to handle employee relations and various different business-related things is also extremely important, but if you have prior experience with that, you’ll have a much easier time doing everything correctly.
Thus, with such experience, you actually won’t be risking a lot if you decide to get a bedriftslån. Apart from this, it would also be safe and smart for you to apply for a business loan if you’ve already been successfully running your company for a while and you are now thinking of expanding your operations, of replacing and upgrading your equipment, of training new staff, of buying inventory, or of bolstering cash flow. Those are all some scenarios in which getting a bedriftslån for your oppstart makes sense. So, think carefully about what you need, and try to determine if this is the right move for you.
When Is It A Bad Idea?
It goes without saying that getting a bedriftslån can also be a bad idea in certain situations. To cut right to the chase, here is what you should know. If you have just now come up with an idea that you think is great, and you have no prior experience in managing and executive roles, it would be best for you to seek for other financing options. There are just so many unproven factors is such a scenario, and you don’t want to risk getting in debt without actually being able to make ends meet and turn your startup into a successful business.
Nobody is saying that you will fail, though. We are simply saying that you should use a different financing solution until you set everything up and until you are sure that the business model, the product, the management team and all the other important factors are actually working to your advantage. Once you do that and once your startup begins growing, you’ll certainly be ready to start thinking about a loan, should you wind up needing one.
What Are The Benefits Of Doing This?
If you are now wondering what the general benefits of getting a bedriftslån for your oppstart is, let me tell you a bit more than that. Sure, you now know when doing this is a good idea, but you could still be a bit confused about the benefits. Well, first things first, if you get a bedriftslån, you will manage to retain equity, which might not be possible with some other financing solutions, such as venture capital or angel investors. Retaining equity is important, since you’re the one who has come up with the business idea, and you are the one who is working hard to run it, so you want it to remain in your ownership.
Furthermore, if you retain equity, you will also retain control over your entire company, and over all the decisions that will need to be made. On the other hand, if you give away some equity, you will actually be letting investors have a say in certain decisions, as well as have oversight or control over the business. Once again, since you’re the one working the hardest here, you want to have all the control over your company, and getting a bedriftslån to fund your oppstart will allow you to retain the mentioned control.
How To Get It?
Chances are that you have by now understood the advantages of getting a bedriftslån for your oppstart, and you have also become acquainted with some of the disadvantages of doing that. In different words, you’ve figured out whether this is a financing solution you should use or not. In case you’ve decided to use it, you have to be wondering how to actually get your bedriftslån. Well, the good news is that the process won’t be complicated.
The most complicated thing to do here is to find the perfect lender because there are a lot of those on the market offering these solutions nowadays. Your task is to research them all in details and figure out who can offer you the best terms. After you do that, you can simply follow the necessary steps in the application process, and you’ll quickly get the cash you actually need for your oppstart.