Providing Bespoke Web Solutions to Business - Call: +44 (0) 1380 871 260
Providing Bespoke Web Solutions to Business - Call: +44 (0) 1380 871 260
In this present climate so many businesses are finding cash-flow a massive issue restricting growth and generally making life very tough.
The banks aren’t there to help either with more businesses being forced into expensive invoice discounting or factoring contracts to solve short term problems instead of being offered increased overdrafts or loans as they would have been a few years ago. Once drawn into a factoring or invoice discounting contract it is very difficult to get out of with the banks taking big chunks out of your profit margins.
Is there another way?
There is no quick fix to solving cash-flow but with a well structured business plan it is possible to reduce borrowing and cut ties with your bank. Basic actions may consist of:
- Moving to online sales where customers buy your products online allowing you to take payment before any goods are delivered
- Reviewing your terms and conditions
- Introduce or strengthen credit management procedures
- Improve marketing to grow your customer base and then reduce your payment terms with customers that are late in paying you
- Take deposits on any project work and have staged module payments
Insight Global working with our friends at the Collection House Limited through our Pegasus Business Survival programme are here to help you.
Contact us today, we can definitely help!