Running your own business can be stressful
enough without the worry of cash flow. When your sales are healthy,
this can be a huge barrier to your continued success.
This is where factoring could help you…
Factoring makes available up to 90% against unpaid sales invoices
(less a small service fee) with the remaining balance made available
when your customers settle their outstanding invoices.
Business management can be a juggling act, managing staff, deliveries,
negotiating with new and existing customers – all of which
take management time. This precious time can be increased through
the provision of professional credit management. Statements and
reminder notices are sent to your customers as part of a factoring
facility, in a format agreed with you at the outset.
Most factoring companies provide comprehensive electronic links,
to ensure you are kept fully updated on who has settled their invoices
and enabling you to draw down money when you require it.
New customers will probably play a large part in increasing your
turnover. Without knowledge of their credit standing, this could
turn the excitement of a new order into the disappointment of a
bad debt. Credit reference information gathered by the factoring
company can be shared ensuring that a sound decision can be made
whether or not to extend credit to a new trading partner, or to
increase credit to an existing customer. |
