Our client a sole trader provides an emergency hydraulic hose repair and replacement to the construction and engineering sectors, achieving a turnover of c£100,000.

The problem: Our client spends most of his time on the road travelling between customers providing an emergency call out service. Being a sole trader, his outstanding account debtors were not chased regularly due to time constraints, with some debts remaining outstanding for up to 90 days, causing cash flow problems.

The solution: We introduced a factoring company that provides a full credit control function, which immediately released funds against outstanding invoices and improved the collection rate resulting in all outstanding invoices being paid within 60 days.