When the end of financial year rolls around 30 June each year, it’s the perfect opportunity to get your business finances in order and make the most of available tax deductions. Small business loan provide a quick cash injection to support small business growth. Here are 4 ways a small business loan before 30 June will help your business.
1. Take advantage of sale prices
No doubt you’ve been seeing end of financial year sales on everything from regular stock items to large, one-off purchases such as machinery or IT equipment. Take advantage of reduced prices to buy the items you need to help your business grow. Avoid disrupting your cash flow, a small business loan can give you the cash you need now.
2. Make the most of the $30,000 instant asset write-off
If you purchase an asset (new or second hand) costing less than $30,000 and it is used or installed ready for use from 7:30pm AEDT on 2 April 2019, you can claim a deduction for the business portion. Here’s how you can make the most of the $30k instant asset write-off.
3. Market your own discounts or promotions
Customers are often on the lookout for bargains as 30 June approaches. Consider opportunities to attract new clients or customers to grow your business. A business loan can be used to fund a marketing campaign to generate immediate sales and secure long-term clients.
4. Invest in essential tools for business growth
Business growth doesn’t happen by accident. It takes planning, strategy and execution. If you’re looking to take your small business to the next level, a small business loan could enable you to buy or make the most of the 3 essential tools required for small business success.
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