Running your own business can be challenging and if you don’t have the right tools or enough business finance to help fund operations, the stress can take a hefty toll on your health and wellbeing along with your company success.
One of the main reasons many businesses fail is poor cash flow. This is unfortunate as it is an easy problem to solve if you have the right knowledge and take advantage of different funding options. Here we will provide you with some valuable information on factoring, a flexible business finance alternative.
A great way you can maintain your business finance is to use factoring to get instant cash upfront by financing your accounts receivable.
Improve your business cash flow in 3 simple steps:
By getting the cash upfront you can eliminate the stress of the waiting for clients to pay in 30, 60 or even 90 days. BCashflow Positive factoring service also provide account management and follow up of your outstanding accounts at no extra cost. This gives you peace of mind allowing you to focus on doing what you do best which is growing your business.
Factoring allows you to pay your staff on time, instead of having to try and get a business loan from a bank which can take weeks or even months.
You can use factoring to pay ATO bills, office costs, rent, supplier costs and any other expenses you may have in your business. It’s also a good idea to use invoice factoring for those unexpected expenses that pop up from time to time or when your business is experiencing rapid growth and require additional working capital.
If you would like to know more details about how you can use a flexible business finance option like factoring to improve your cash flow, complete our quick contact form or call 1300 884 100 to speak to one of our factoring experts.