Internet business is not uncommon term to most people nowadays. In fact, there are a huge number of people starting up their own internet business online due to the technology advancement during the last couple of years.Internet business compared to the traditional brick-and-mortar type generally required low capital, low business operating cost to start-up. Thus, many people seek any opportunities available to start-up their own internet online business due to the low entry barrier. There are many kinds of online businesses exist on Internet. There may be thousands or even hundred of thousands of online businesses providing services or selling products to their customers.Competition for internet business is very fierce. However, there are some online businesses that perform pretty well compared to others. Those who not doing well, might be due to the quality of services they provided or the products they promoting, but, there is one major factor that some internet business owner tend to overlook is to how successfully market and sell or promote their products. This could be the number one factor that most online internet business will fail in the end.Marketing your business effectively is very crucial in order to determine the success of your business. Successful online marketing campaigns will bring more customers to visits your websites thus increase the sales. Applying effective internet online marketing strategies will not only increase your presence on the Internet business arena, but also increase your business reputation, thus more people will know about your business.As for a start-up internet business owner, it is not possible to apply all the online marketing strategies available at one go. Some online marketing strategies would take times to implement and more fine-tunings are required. Below are some of online marketing strategies recommended that can be applied:a) BlogBlog is a great tool for marketing online business. There are more online visitors visit a blog compared to a website nowadays. Blog is a great tool for sharing useful information related to your products or a platform providing educational information to your website visitors. Eventually, more people will follow your blog and thus increase the online traffic flow to your website. More traffic, more visitors leading to more sales.b) PPCPay-per-click or PPC campaign is another great marketing strategy to promote online internet business. PPC allow online business owner to target their customers effectively by placing their business advertisement based on certain keywords on the search engine. Targeting the right keyword is the essential part of a successful PPC campaign.c) Video MarketingVideo marketing is getting more and more attention nowadays compared to a few years back. For this instance, YouTube has become the biggest video sharing platform on Internet. It has attracted millions of viewers every year. YouTube has become one of the most effective marketing strategies available online. Combining motion and visual; no doubt that, marketing your products or services through YouTube will increase the visibility of your website and attracts more visitors thus increase your online business sale.Implementing effective online marketing strategies play important role in the success of any internet business. Different marketing strategies will result in different impacts for the internet online business. High impact marketing strategy would have better effect on your business compared to low impact marketing strategy.Thus, it would be wise to come up a marketing plan for your online internet business in order to succeed. A good business coupled up with effective marketing strategy will eventually bring success for your online business.
Becoming a self-employed businessman is a great reputation in the society but the problems faced by the entrepreneurs from the day one of their business is enormous. It is a great challenge for a person to overcome all obstacles to become a successful businessman. The numerous problem faced by all is finance. Even great entrepreneurs of various industries have struggled a lot of financial crisis for setting up their business and to run their daily business operations. Thus finance plays a major role in the life of business people. Great ideas require the necessary financial support to bloom into a successful business.Introduction:
There are various sources for business people to raise capital for their business. The most trusted source is from banks. There are various reasons why people choose banks as the best source for raising capital for their business. Banks provide a lower cost of funds in the form of Business Loans. There are various types of business loans at differential interest rates to facilitate business people to solve their financial crises.Types of Business Loans:
Businesses are of different types and need finance at different stages of their business operations. The need also being different, banks help them in providing different types of business loans helping various small and medium enterprises to raise capital.New Project Loan – Banks are interested in funding for new businesses and also for new projects of existing business. There are various criteria for getting new project loan and differs from bank to bank. Project loans are approved against the collateral of the person like residential property, commercial property or empty land.Top-up on Existing Loans – These loans are issued for expansion, replacement, diversification of an existing business. These loans are approved for short term or long term basis to buy goods, machinery or any fixed assets for the company.Working Capital Loans -These loans are provided for the business to solve sudden financial crises and repaid within short durations. Banks are more interested in providing working capital loans against their inventories, stocks or receivable bills of the company.Secured Business Loan – Business loans in which companies raise their capital against any security for the bank. It may include plot, residential or commercial places, gold, shares, bills, insurance as collateral to get funds for their business. The interest rate is preferably less.Unsecured Business Loan – Every businessman cannot afford to pledge a security in getting the business loan, so bankers help them with loans without any security based on bank transactions and income tax returns. These loans are charged with more interest rates when compared to secured business loans.Requirements of the Banks:
There are various steps and procedures followed by banks to provide funds. The procedure and documents to be submitted to the banks as followsIdentity and address proof of the company – Address proof and identity proof of partnership or proprietor business.Statutory legal registration of the company – Whether the company is legally registered under government norms and have followed all procedures legally in setting business.Financial statement of the company – Every bank is interested in seeing the recent 1-year business transaction of the company.Income tax returns – ITR helps the bankers to check the business performance, efficiency level, assets and liabilities of the company and also tax that company pays from their current earnings. This also plays a major role in deciding the loan amount for the business people.Financial Security – It includes the fixed and movable assets of the company which helps the banker to consider providing business loans based on the asset value along with the business transactions. This also safeguards banks from the failure of businessmen that fail to repay the loan amount.Previous Loan track – This is a very important factor considered by banks which will help them evaluate the financial condition of the business and also to check on past repayments on loans.Litigation – It will help banks assess the character of businessmen before providing a business loan.Takeaway:
Though business loans are found to be a great source for raising capital, businessmen undergo challenge in getting timely funds from the banks. In order to help them in availing timely loans, even NBFC is also now prepared to help them with funds at various stages of their business. Banks & NBFC have also made the lending process easy, with all verification done in shorter time-span, doorstep assistance in collecting documents etc. Businesses with good cash flows & credit score can avail timely funds with much ease.