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Seasonal Staffing Issues

Ahead of the festive period, if you’re a manufacturer or a producer of products that will be in high demand for the festive period you may be considering taking on seasonal staff to help the flow of business and cover any holidays your current staff may have requested over Christmas.

Hiring staff for the festive period, is a great way to keep business going, keep your clients and customers happy and you may discover some staff who are so fabulous, you would like them to stay on a permanent basis.

But the question is, how do you fund this venture, where will the money come from to pay seasonal staff, as well as current staff who are on a holiday break enjoying the festive season?

Invoice Factoring is a great solution which allows you to take the money tied up in invoices and have the funds way before the payment is due on the invoice. So if your payment terms are normally 90 days on your invoices, that’s no use to you, yet if you speak to a Factoring Lender, they can take on board your invoices, and as long as your clients are credit worthy, you can have up to 85% of the total funds of your invoices within 24 hours.

Then you have a few options, you can continue to chase clients for payment nearer the date or you can hand everything over to the Factoring Lender and have your hands free to get on with any other important business.

Once all the payments have been collected you’ll receive the rest of your funds minus a small fee for using the Factoring Lender.

This is a great way to have an amount of cash available for the festive period, which in some cases can tighten the purse strings, but there is no need with the flexibility of Invoice Factoring.

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