If you are in the process of setting up a brand new business and you are looking to secure a start-up business loan, you’re likely feeling a little overwhelmed by how much work and red tape is involved. Not only that, but you’ll want to ensure that you go above and beyond to increase the chances of your loan application being accepted – so as not to waste your time. In that light, should you include SEO in your business plan when applying? Is this something that lenders want to see? Let’s have a closer look…
What are prospective lenders looking for in a new start-up to invest in?
When applying for a start-up business loan, your prospective lenders are going to want to see a number of different things. One example is they’ll need to see that you are responsible with money (e.g., have a solid personal credit history, etc.).
However, the main thing that they are going to be concerned with is the viability of your business. This means that you must be thorough when putting together your business plan. If a prospective lender can see that you have done your due-diligence, and that your business (based on the plan laid out for them) will have the greatest chance at succeeding in such a competitive marketplace, then they will feel far more confident in parting with their money and putting their faith in your ability to pay it back.
It can also help you have a detailed plan on how you’ll manage and maintain your monthly expenses. Frugality as a new business owner will go a long way when attracting investors!
Every great business plan needs a marketing strategy
The key to any great business plan is a comprehensive marketing strategy. It’s all very well having a snazzy business name and a well-designed logo, but what lenders want to know is whether or not you actually have a plan to attract new business!
As such; yes, mentioning SEO in your business plan when applying for a start-up business loan is definitely worth considering. But not just SEO; a broader digital marketing strategy.
Because it proves that you understand the value in digital marketing and have a solid plan in place to build your online awareness and start driving relevant ‘ready to spend’ customers to your website once things are up and running.
Not only that, but it demonstrates that you have a plan for how and where to allocate your start-up business loan once you secure it. It’s all very well saying: “Give me money so I can start a business” – lenders want to see where their money is going and what it will be invested in.
Research digital marketing agencies in advance
As part of your business plan, you’ll be conducting extensive market research, competitor analysis, and building a customer profile. In addition to all this, you should also shop around and start looking at the various marketing agencies that can help you achieve your long-term goals.
So, if you’re setting up a new business in Dubai, you can look for a marketing agency in Dubai that has a solid reputation for delivering superior results and include them in your SEO plan when applying for a start-up business loan.
Of course, you’ll struggle to find a marketing agency that will be willing to put together an extensive and detailed digital marketing strategy until you are ready to invest, however, it’s almost certainly worth knowing who you will choose to work with when the time comes.
In order to have the best possible chance at securing a start-up business loan, you need to be thorough in your application – and that means putting together a detailed and comprehensive business plan with long-term marketing strategies in place.
Leave no stone unturned and go above and beyond to make your application stand out from the rest; this is the key to securing the appropriate funding and getting off to the best possible start when opening for business.