So Christmas is here once again! We hope you’re able to take some time off and relax with some festive food and fun. If you’re already thinking about the coming year and what your business will be aiming to achieve, then we can help you get on track to achieve those ambitions with invoice factoring and invoice discounting services that have been proven to help in a variety of situation.
So what would your Christmas wish be for your business?
… to solve late payment problems?
Is your business constantly under pressure from delayed payment from customers? This is a common problem for businesses, and despite government efforts to curb the issue it’s still ongoing, with small UK businesses owed over £36 million in funds due to late payment. Invoice finance allows you to unlock the cash tied up in unpaid customer bills, letting you get access to funds within 24 hours, rather than waiting for months.
… to solve cash flow issues?
Tight cash flow can be a death sentence for any type of small business. High overheads, unexpected costs, low sales, overdue payments, bills – everything puts added pressure on your cash flow. Invoice factoring allows you to solve this problem with flexibility: you can choose which invoices to factor with selective factoring or construct a full programme of factoring. This instantly injects cash into your business so you’re not kept waiting around.
… to streamline your invoicing procedures?
Small businesses are often unable to implement a well organised infrastructure due to a lack of resources. You probably won’t have a dedicated credit department and invoicing can be pushed down the priority list. Factoring services can take the strain away – the factoring lender will take on responsibility for payment collection so you can get on with the important job of running your business.
Invoice factoring is a great way to make any number of Christmas business wishes come true. If this festive period has been a stressful one, be sure to get in contact with Select Factoring to see how we can help. And finally…