Tuesday, August 21, 2018

How Small Business Owners Are Investing Their Funds for Growth

Newsletter | August 21, 2018

Small Business Trends Newsletter
5 Most Common Ways Small Business Can Use Funding from Kabbage

Online lending continues to make a big impact on small business growth. A recent study conducted by NDP Analytics found that every $1 borrowed by small businesses produces $3.79 of gross output in local communities. It sums up to nearly $40 billion in economic growth across the United States, generating close to 400,000 new jobs and $13 billion in wages throughout local economies.

The study references companies like Kabbage, which has provided access to more than $5 billion for over 150,000 small businesses. Online lending simplifies the traditional lending process. With Kabbage, small businesses connect live data to the platform and can quickly qualify for a line of credit, which go as high as $250,000 and continually adjust to match the performance and seasonality of the business.

Growth, however, is not the product of idleness. Dollars only produce more dollars when they're appropriately put to work. So, what are these businesses investing in with these funds?

Here are five ways small businesses use the extra capital accessed by online lending to generate revenue.

#SBAchat: How to Market Your Business Online
Aug 28 - Online, Twitter
Do you have an online marketing plan for your small business? Take advantage of the dog days of summer to help boost your online presence. Join us for a Twitter chat hosted by the U.S. Small Business Administration (@SBAgov) as we'll be sharing online marketing tips and resources. Follow along with the hashtag #SBAchat.
Read More

Discover more events on the Small Business Trends event calendar or Submit your small business event for Free!
Spotlight: OpenPhone Provides Business Service Right on Your Mobile Device
The OpenPhone app is a mobile calling application for businesses. See how the company would spend an extra hundred grand in this week's Small Biz Spotlight.

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Motoring Africa Examines Business Opportunities in an Emerging Auto Manufacturing Industry
According to Edward Hightower in Motoring Africa, the sky's the limit for the right sustainable manufacturing ideas in Africa. Read More

Check out more books!
2018 - Loans Edition
Online loans for small business can be an alternative when other funding options fail to deliver. But getting the right funding for your small business is key. In the Loans Edition of Small Business Trends Magazine, find out the 7 most important questions to ask BEFORE applying for an online small business loan.

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