Business expansion is not only a necessity for big companies but also for small businesses. I am certain you have heard of the saying ‘don’t put all your eggs in one basket.’ It is no wonder expanding one’s business into new profitable markets is something that innovative entrepreneurs think about all the time, and you should aspire to.
Why think of the expansion
There are several advantages that business expansion can bring:
- One of the significant reasons is to find and attract a new customer base.
- Expansion allows you to enjoy economies of scale. Think of business expansion. When your business grows, you will be able to attract discounts from vendors and suppliers because of your bulk orders.
- An expansion gives you multiple streams of income/revenue.
- Your business will have greater brand recognition if it is allowed to feature in different markets.
Don’t let your current success be the peak of your income when you can expand and enjoy all of the above.
Where can you expand to
You have probably seen business tycoons who have invested in textile, agriculture, finance, and health at the same time right? So why not you?
If you are a startup with a few extra coins to spare, the best way to use your profits is not to save in a bank but to reinvest in another person’s business in the form of a microloan. Microloans have become quite popular. More so, many startups are turning towards blockchain based microfinance for funding.
Expanding into microfinance will give you a chance to secure your asset because of the low probability of loan defaulting in the industry. The success story of Zopa, a microlender, suggests that most borrowers in microfinance have high average salaries hence are not seen as being risky borrowers.
Become a Lender
Thinking of becoming a lender? Imagine that in the U.S alone, 534,000 new startups spring up every MONTH! And one thing all these startups require is funding. Moreover, they turn to microfinance platforms for these funds due to the convenience offered compared to traditional banking institutions. Majority of up and coming microcredit platforms’ main job is to bridge the gap between lenders and borrowers. However, they don’t provide the loans themselves, and this is where you come in.
Like Zopa, AssetStream was created to provide a conducive environment through which lenders like yourself can offer loans to borrowers for SMEs and business loans. If you are looking to expand but don’t have the funds, you can also turn to AssetStream as a borrower to get the finances you need to expand into new profitable markets. AssetStream provides you three different ways through which you can benefit from it.
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- Become a lender and invest in other people’s business
- Get microloans to expand your business into new profitable markets
- Act as a local agent
Don’t wait for the trading bell
There is no doubt that business expansion provides a clear path to invest your resources profitably. Fortunately, platforms such as AssetStream have streamlined the microfinance industry thus providing with an excellent opportunity to expand your business through microloans either as a lender, borrower or local agent. Join AssetStream and enjoy their amazing platform.
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