Financing for SMEs and other useful tips to undertake

Undertaking is a path to achieve personal and professional fulfillment; However, factors such as the lack of financing for SMEs and the lack of education aimed at the creation and development of companies are some of the obstacles that the panorama presents, according to data from the study Radiografía del Emprendimiento en México.

Learning to undertake: the five basics

Overcoming the difficulties that can be faced when starting a company requires planning that considers, among others, the following aspects:

1. Carry out a market study

This is the starting point of any successful venture. This is due to the fact that these studies offer valuable information throughout the different stages in which the business is developed, allowing, for example: to analyze the supply, demand and potential of a product or service.

The foregoing will be very important when developing the appropriate activity according to the opportunities that can be detected and succeed in the future.

2. Review the credits to start a business

Analyzing financing sources, such as personal loans, crowdfunding, business incubators, seed investments or loans to start a business, is essential to start, as well as to maintain and grow over time.

In this regard, one of the most important aspects is related to evaluating the financial state of the business, its characteristics and opting for a financing option for SMEs according to the real needs of the company.

3. Create a financial plan

In addition, to undertake it is essential to be trained in tax issues, because even if you have experience in the matter, the responsibilities that come with having a business are usually greater than those that in principle can be foreseen or managed on your own.

In this sense, it is convenient to be very realistic and delegate financial planning and SATa procedures to an expert on the subject.

4. Learn about marketing and sales

Like market research, a proper marketing strategy can boost the growth of a business. Some of the ways this occurs are through:

• The identification of customers with the brand, the emergence of conversations and a culture around it with consumers.
• The construction of a reputation based on competitive advantages, the reliability that the company communicates and the loyalty of the market.
• The visibility of the project on social networks and the breadth of scope that this entails.
• The ability to respond to the sales strategy and positioning of the competition.

5. Know the market trends

To make informed decisions, companies must monitor market activity through data analysis. Learning to undertake is also about this: not only to innovate, but to stay current, something that is more related to the ability to adapt in times of uncertainty.

This has been evidenced by the phenomenon of digitization of a large number of businesses between 2020 and today, as well as the significant increase in the digital presence of SMEs of all categories.

Consistent with the needs of a new reality, at Pymes Capital, we provide Mexican companies with online financing alternatives that respond to the characteristics of their operation, through a fast, simple and tailored process, such as the Merchant Cash Advance (MCA) or cash advance of future business sales.

Visit us and get the financing you need to boost your business and make it grow.