Explanation
Assets are classified into two main categories:
- Current Assets: Cash or assets expected to be converted into cash within a year (e.g., inventory, accounts receivable)
- Non-Current Assets: Long-term investments that cannot be readily converted into cash (e.g., property, machinery)
A strong asset base provides security and borrowing power for business growth.
Practical Example of Assets
A digital agency’s assets may include laptops, office furniture, cash in the bank, and receivables from clients.
How Bizcap Can Help:
Looking to invest in new assets? Bizcap’s secured and unsecured business loans can provide the funding needed to strengthen your business infrastructure—even if you prefer not to pledge assets as collateral.