#LegalTipsWithOlukayode #FundingForYourBusinessII

Dear Client,
Before taking that decision to raise money from external sources for your enterprise, you should ask yourself the following questions and provide satisfactory answers:
1. Is this money really necessary?
2. What is the expected yield of such external finance?
3. What's the proposed return period?
4. What is the interest rate before and after the legal due date
5. What rights are exclusively stated in your agreement

For a small enterprise, the proprietor must be very careful to ensure that only needed funds are sourced externally. This is because it is becoming a trend that entrepreneurs feature in personal needs into their business needs and borrow such money which because such amount cannot reasonably be gotten back, they have lost their businesses.
Also, the questions raised above must be properly answered and the agreement thoroughly scrutinized by your solicitor. You must know that you have a right to vary cumbersome conditions.
Do not stiffle your business, let your solicitor properly advise you.

Have a productive day!
Cheers,
Olukayode Olugbemi

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