Growing a small business means continuously finding ways to improve. Whether it’s investing in better equipment or training your staff, these kinds of improvements can take your operations to the next level. But as any business owner knows, upgrades require funding, and that’s often where things stall.
The right funding, used wisely, can help you grow faster and operate more efficiently. Maya makes it easy for you to borrow money even if you’re just starting out or in the process of growing your business. You can use Maya Personal Loan to access up to PHP 250,000 while enjoying flexible repayment terms and low fees. Choose from loan terms of 6, 9, 12, 18, or 24 months, and enjoy add-on rates starting at just 0.77% per month. Another option is Maya Easy Credit, which is a virtual credit line that you can use to supplement the funds for the upgrade you want to acquire. You can borrow up to PHP 30,000 and pay up to 30 days, all for a small service fee of as low as 3.99%. Maya also offers the quickest and easiest way to borrow money online in the Philippines, as you can apply for both of these options on the Maya app.
With these tools in your pocket, you can confidently invest in the upgrades that matter most to your business. These small business upgrades are certainly worth the investment:
1. Upgraded Equipment and Tools
Using outdated tools or machinery can slow down productivity and affect the quality of your output. By investing in better tools and equipment, you can make sure that your business is capable of operating more efficiently and serving your customers better.
A loan or credit line can help cover the cost of new equipment, which might otherwise feel too expensive upfront. With the right equipment, your business can increase its output and improve efficiency, likewise increasing its revenue. These gains, in turn, can help offset the cost of the loan, making the investment both manageable and worthwhile over time.
2. Professional Staff Training
Your employees are a key part of your business success. Refining their existing skills or adding a new one to their repertoire can greatly enhance their performance and the way they interact with customers. You can do this by encouraging and supporting them in their pursuit of professional development. Even something as simple as a one-day workshop on handling digital payments or inventory systems can boost their productivity.
3. Inventory Expansion or Better Suppliers
If you’ve ever run out of your best-selling items or been stuck with unreliable suppliers, you know how much it can affect your bottom line. With extra funding, you can buy in bulk or stock seasonal products in advance. You can also explore switching to better-quality suppliers who may require larger upfront payments.
4. Digital Marketing Campaigns
If you’re not investing in digital marketing, you're missing out on valuable traffic and leads. Marketing, be it in the form of SEO services or a short-term ad campaign, is an area where small investments can lead to big returns. With borrowed funds, you can fund social media ads to promote your events and limited-time offers or boost your online presence.
5. POS or Payment System Upgrade
If you're still operating with a manual register or don’t accept digital payments, now is the time to modernize. A new POS system or integration with digital wallets can speed up transactions, improve accuracy, and give you better data on sales performance. In addition, modern customers appreciate multiple payment options. The ability to accommodate cashless transactions can also make your store feel more modern and trustworthy. You can use borrowed funds to fund this upgrade, as POS systems often require hefty upfront costs. Once you implement the system, you’ll be able to accommodate faster, more streamlined transactions and boost customer satisfaction and sales. The increased revenue, in turn, can make it much easier to pay the loan in full and on time.
6. Business Licenses and Permits
Sometimes what holds a business back isn’t a lack of customers, but incomplete paperwork. Investing in proper permits and licenses can open up more opportunities for your business. The same can be said about building a relationship with a trustworthy accountant or knowledgeable business consultant. Their input can be especially important if you want to scale or work with larger clients who require documentation. Funding these legal necessities through a loan ensures you stay compliant and credible.
7. Packaging and Branding Enhancements
Looks matter, especially when you’re trying to stand out in a crowded market. With better product packaging, you can catch the eye of potential customers. You can also strengthen the way customers perceive your business by using branded uniforms or improving your store signage.
8. Workspace Improvements
A clean, organized, and comfortable working environment isn’t just for show. It affects employee performance and customer experience, too. Does your brick-and-mortar shop need better lighting, more seating, or a quick renovation? With some borrowed funds, you can schedule and fund these improvements without having to delay operations for months while saving up.
Invest in Your Growth, One Step at a Time
Every small business has its own path to growth, but the need for timely, strategic upgrades is universal. With financing tools like Maya Easy Credit and the Maya Personal Loan, you don’t have to wait years to build momentum. Rather, you can start upgrading your business little by little, on your terms, and have no second thoughts about funding opportunities that can help you attain your objectives.
