Small and medium enterprises, entrepreneurs and start-ups are often the targets of myths – especially when it comes to accessing capital. Remember, funding is vital – but so are facts. Here, we bust some common myths SMEs around the world run into, which can, in turn, help you create a bespoke strategy to spot the “fake” and get the funds.
Myth #1.
You cannot get funding for your business if you don’t have a financial track record; a specific amount of money in the bank; and proof of previous successful transactions.
BUSTED!
You DO need to be credible and have a robust, viable transaction or deal in hand. The Funder needs to be able to trust your repayment agreement. But how do you build a track record if you’re a new business? ProfitShare Partners gives you the capital to create that track record. We’re not focused on your balance sheet or financials – our focus is on the transaction you have negotiated.
Myth #2.
My savings should be used to fund purchase orders.
BUSTED!
There are many ways to fund a Purchase Order that doesn’t involve using your savings.
PSP recommends using other people’s money to fund the Purchase Order and keep your savings for unexpected expenses. If you can do this, you can grow your business faster because you won’t be limiting yourself to only your savings.
If you are a business seeking funding, we can help you get the funding you need without giving up a share of your company. PSP simply takes a share of the profit per transaction that we agree on at the beginning of the transaction. Our business model is based on a profit share approach – thus the name of our company – where we take a pre-determined share of the profit for that transaction.
Myth #3.
Funding means giving away equity in my business.
BUSTED!
Not with ProfitShare Partners. We work on a profit-sharing model where we take a share of the profit per transaction. At the start of the transaction, we agree on what that percentage will be. We have the funding to help your business grow, but unlike traditional investors, we do not ask for a share of your company – just an agreed and equitable share of the profit.
Myth #4.
Business owners often don’t believe they have enough capital to go after the big orders because they only have a small amount of operating capital, and don’t want to lose credibility by taking on orders they can’t deliver on.
BUSTED!
Enter ProfitShare Partners – brining you the capital to support a big order that you couldn’t ordinarily fund yourself. Don’t limit yourself by only bidding for small orders. Our job is to help your business grow so when you get those big orders, we can back you up with the capital to fund and fulfil them.
Myth #5.
Only Big Businesses can access funding.
BUSTED!
Funding is not only for big businesses. No matter the size of your business, you can access funding if you have a credible transaction, a company with integrity, you can prove that you can pay back the money that you’re borrowing as well as execute on the underlying transaction.
Funders like ProfitShare Partners can help you access capital – no matter the size of your business. In fact, thanks to the variety of funding sources out there, startups and small businesses can get funding as easily as large businesses can. It’s all about who’s got your back.
We’ve busted a few common myths that are holding people back from starting their own businesses or growing their businesses. Hopefully, we’ve given you some new information to help you along your journey towards your goals.
So, who you gonna call? PSP MythBusters!
If you’re ready to try out easily accessible funding, visit our website and try our simple application process. If you have the will and the dream, we have the same for you. Click here now… https://profitsharepartners.com/
