Get the Tata Capital App to apply for Loans & manage your account. Download Now

Blogs SUPPORT
Loans For You
Loans for Business
Investment
Insurance
Apply

Quick Links for loans

Quick Links for Insurance

Investment

Offers Quick Pay
Back

Equipment Finance

Avail Digital Equipment Loans
up to Rs. 1 Crore

  • Attractive ROIs
  • Customizable Loan tenure
Know More
Back

Equipment Leasing

Avail Leasing solutions
for all asset classes

  • Up to 100% financing
  • No additional collateral required
Know More
Back

New Commercial Vehicle Financing

  • First time user
  • Retail and strategic Clients
Know More
Back

Used Commercial Vehicle finance

  • Repurchase
  • Refinance
  • Top up
  • Balance Transfer
Know More
Menu  
 
Apply Now

Tata Capital > Blog > How to Scale up Your Sole Proprietorship Business in 2021?

Loan for Business

How to Scale up Your Sole Proprietorship Business in 2021?

How to Scale up Your Sole Proprietorship Business in 2021?

Sure, your sole proprietorship business started as a one-man show. But this doesn’t mean it doesn’t have the potential to scale quickly and expand. All you need is some strategic business and financial planning.

If you’re looking to grow your sole proprietorship company, here are some rules of thumb every entrepreneur swears by. Use our top tips to scale your business in 2021.

Take In a Partner

One of the primary advantages of having a partner to your business is the division of labor. At present, you’re perhaps juggling multiple roles – daily operations, marketing, invoicing, and what not. With a partner or a co-founder in the team, you can evenly distribute work in these areas. In fact, you will see many startups get more than two partners on board. Some even have up to 10!

With a partner to share the responsibility of running and growing a business, you can even start tackling other areas that you haven’t explored. Of course, your scaling plans will need a good and stable source of funding. Worry not, you can always apply for business loans for sole proprietorship to fund your growth plans.

Additional Read: Which types of businesses are eligible to opt for a business loan?

Invest in Marketing

To scale your business, it’s important for the market to know about you. Thus, you need to get started with your digital marketing activities to get the word out. To begin with, you can start working with freelancers and agencies. If you have the funds for it, you can even build a small in-house team of marketers. Again, both routes will require a decent capital investment on your part. Instead of borrowing from friends and family, look towards business loans for quick and easy funding.

Additional Read:  What Should Be Your Business Growth Strategy for 2021?

Increase Your Rates

Most businesses in the initial stages try to play the price game to win customers. However, providing competitive rates does not always put you on the road to maximizing profit. If you increase your rates while keeping your sales and marketing activities going, you will certainly see a positive impact on your profits. The good news is that you can then re-invest this money back into business and scale faster.

Hire smart

Toscale your business, you need the right set of people working for you. Thus, it is key to invest your time in getting the right people onboard. Certainly, this needs you to have a steady inflow of cash. If you are struggling in this department, you can rely on sole proprietorship funding to addresses your financial woes. 

These are only some ways to grow a business from steadily but surely. Employing one or more of these strategies in tandem will undoubtedly give you results, but it will also need a good monetary investment. Come to Tata Capital for smooth funding to scale your sole proprietorship. Choose us for attractive business loan interest rates, flexible repayment terms, and quick loan processing!

Do not let financial obstacles keep you from unlocking your potential. Start using our business loan EMI calculator to understand your monthly payments today!

Apply Now

Give Your Business the Right Boost: Apply for a Business Loan Today

Apply now
Popular Searches
business idea udyogini scheme hsn code full form low investment business ideas top 10 most successful businesses to start transport business import export business in india mineral water plant cost collateral free loans
Disclaimer

Most Viewed Blogs

Trending Blogs

Calculator

Personal Loan EMI Calculator

Personal Loan EMI Calculator
Home Loan EMI Calculator

Home Loan EMI Calculator
Business Loan EMI Calculator

Business Loan EMI Calculator
Used Car Loan EMI Calculator

Used Car Loan EMI Calculator
Two Wheeler Loan EMI Calculator

Two Wheeler Loan EMI Calculator
Loan Against Securities Calculator

Loan Against Securities Calculator
Loan Against Property Calculator

Loan Against Property Calculator
More Tools
Our Subsidiaries
Our Other Websites

Useful Links and Resources

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Policies, Codes & Other Documents

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Tata Capital Solutions & Services

Uh oh, something went wrong

Please try again later.