Nobody likes spending money, but one of the realities of running a business is the constant outlay of cash you have to manage.
In order to keep your business operating, you need to have a steady flow of cash to meet various needs - and this can be particularly difficult if your customers aren't fulfilling their invoices on time.
Fortunately, debtor finance is an increasingly popular solution that can help small businesses stay on top of their cash flow finance. With fewer restrictions and requirements than traditional bank loans and overdrafts, such as the need to provide real estate as security, debtor finance can allow you to quickly get your hands on the cash you are entitled to.
Funds can usually be debited to your account within 24 hours - so what are some payments you can start making instantly?
Happy employees are the key to productivity and business growth, and workers will quickly lose patience if they are not paid the wages they deserve.
If you're constantly struggling to pay your employees, debtor finance is an ideal solution, turning your piles of accounts receivables into cash you can use to remunerate your staff.
Most small businesses will at some stage have a bit of debt to work off, and this can prove to be an extra burden if you are already strapped for cash.
Do you need that extra injection of cash to chip away at your debt? Arranging debtor finance can provide you with a source of funding to lower the balance.
As much as you expect your own debtors to pay you on time, you should also be making an effort to compensate your suppliers as soon as possible.
Many businesses offer discounts for early payment - by using debtor finance to quickly source cash, you can take advantage of such discounts to further grow your business.