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All is well in the world of Small Business

Despite the terrible economy of the past few years, not just in the UK but across the pond in the USA, small businesses seem to be doing OK.

Why is this? Well one of the factors could be that companies made thousands of staff redundant to cut back on costs, but employ small businesses on an hour basis to complete the work their staff might have done, without having to pay a yearly salary.

In the USA Factoring businesses have seen and increase in their client portfolio and factoring is up by 27% compared to last year.  Small businesses find themselves in a spot of bother when it comes to large purchase or orders, so need capital to be able to pay suppliers and get on with the job. Luckily the option of factoring offers a quick and easy solution to these problems, releasing funds keep within invoices sent to clients. This type of money provides small businesses with capital funding for business growth, and unlike a loan, is a quick process and turn around.

This type of credit facility keeps small businesses away from debt and bankruptcy and puts them in a stable condition as they’re only receiving the same amount of funding based in their invoices.

So, there you have it, despite a restless economy and stories of woe with big companies closing their doors and loosing their staff, it maybe the small businesses that are doing the best out of this current financial situation. Factoring could be the solution to a lot of companies problems, yet it doesn’t really seem to have caught on, the spark has lit the fire now, keep an eye on factoring over the next couple of years, it may end up being the only solution left for funding.

 

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