Factoring to help business cashlow
More new businesses fail because of poor cash flow than for any other reason. If you have money owed to you, don’t let it turn into a bad debt. Do something about it before it’s too late: email your customer or, better still, call him or her and see if there’s a problem. He or she may be experiencing similar problems. Don’t be tempted to start losing your temper or making threats of legal action before you’ve tried resolving the matter on the phone or face-to-face. You’ll be amazed how much can achieved by just talking. Consider factoring to help business cashflow
If you need to borrow money, your bank will want to see your previous bank statements and you’ll have to make a strong case why they should take a risk on you. Make sure your current account balance matches the opening bank figure in any cash flow forecast you produce. Say exactly what you want the money for. A good business is a business with strong business cashflow
