Make Your Money Grow
By Marlena Stoddard
Running a business is not just a walk in the park as many people think. It becomes even trickier when you do not have enough capital. This is why you should start small and grow your money before considering that huge business venture of your dream. Here are some small investments that can help grow your money.
Consider a Dividend Reinvestment Plan
A dividend reinvestment plan is a great option for small business investors. It gives investors the opportunity to purchase stocks directly from companies without involving a broker. In these programs, the investor qualifies for participation as long as they can afford to purchase at least one share.
Put Your Investment in Individual Stocks
Individual stocks could be the best option for you in case you have little money to invest in stocks. You can purchase individual stocks for as little as ten dollars per trade through brokerage firms such as Scottrade, Trade king and TD Ameritrade.
Pick Mutual Funds
Even though most mutual funds will require you to invest a minimum of thousands, there are those that can allow you to invest with as little as $500. Better still, if you want smaller investment, there are about three hundred mutual funds from TD Ameritrade that need a minimum investment of only $100. Also, more than 250 mutual funds do not require any minimum investment at all.
Go for Exchange-Traded Funds (ETFs)
Exchange-Traded Funds is another sound option for you. It is similar to mutual funds because both have different investment options. However, what makes it different is the fact that it is traded just like stocks on a stock exchange, and its cost of entry is relatively low. Since an investor can buy an ETF for the cost of one share, it is an appealing option for someone in need of stress-free investments.
The Best Hires for Small Business Owners
Your employees are very crucial when it comes to the growth of your business. They can contribute either negatively or positively towards it. You need to critically consider every hire to make sure they fulfill the right role for which you hire them. Among your hires, make sure to have a few people with degree in business-related courses—even an online business degree can be valuable to the company. You need employees who can bring new ideas and challenge the direction the business is taking. Employees with relevant knowledge are known for their competence and brilliant ideas that can take your business to the next level.
To sum up, there are numerous investment options for you regardless of how much you have. The important step is to find one that suits your needs and ideas. Make good use of some of these tips and watch as your money grows.
Marlena Stoddard is a freelance writer who received her BA from the University of Georgia. She currently resides in Atlanta with her husband, two kids, and puppy Molly Belle.”