Small businesses often seek additional capital while expanding or when they anticipate a sudden boost in sales. It is recommended to have all the required information handy in such a situation. Such information can be the registered business number, your legal paperwork, the history of your business and its dealings, and much more. There is so much to do and much more to sort, so here is a list of all the information that you need to have quick access to in these situations to help you remember all you need.

1) Keep your legal paperwork in order

A business often has its own identity and a whole set of paperwork that goes with it. So it is vital that you always have your legal paperwork sorted and ready to go whenever there be a need. This includes documents like ownership, business permits and certificates of incorporation. Other documents like income tax liens, business license, registration number, article of association should all be in order.

And this information is essential for your business and its working and should be kept safely. To keep such sensitive papers safe document management software should be used and Docupile’s software not only has easy to use interface but also encrypts your file to keep it secure.

2) Type of business and associated information

Depending on the type of business, different information is needed. So there should be clear information on the type of business that is being run, who all are shareholders and by what percentage. In the case of a sole proprietor owning the business or a partner owning more than 50% share, their identity proof like a driver’s license should be stored safely and securely along with their social security number and resume might also be needed. This information is very personal and sensitive and hence, should be stored securely and responsibly and should not fall into the wrong hands. Docupile’s document management system allows user-level permission so no unauthorized person can have access to your sensitive information.

3) Financial Information

Knowing a business is knowing its finances, and managing a business is managing its finances. This in itself says how important a business’ finances are so, you definitely should make sure that your financial records are clean.

Financial information like credit history of business and owner, bill payment history, debts, loans, residence etc., should be available at the user’s fingertips as it can determine whether or not the business is capable enough to handle additional funds at this stage.

4) Other information

Now, mind you that though such pieces of information cannot be categorized, they are just as essential and often trickier to handle. It includes information like your business’ location, employee records. It will also help to have your financial statements and revenue sheets prepared for the meeting to ensure that you are ready to tackle anything that comes your way in the capital acquisition hunt.

Managing this information efficiently and securely.

Tools like document management systems and software should be available for this purpose. The document management system is the best way to handle all this information. It will keep your document organized and accessible, which can be very handy when you need it most. The more organized and accessible your document management system is, the more prepared you will be.

So try out Docupile, which has all the features you need to document your business and help you handle new capital. It comes with multiple top-notch security features and yet remains easy-to-use for the clients. Contact our team at (281) 942-4545, or visit our website for more details on the nature of our services.

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