After the singing of “Auld Lang Syne,” ball dropping and much noisemaking celebration, the year 2014 is now upon us. Many of us are getting a footing in the New Year as the pace of work, business and life returns to post-holiday normalcy. Though New Year’s Day has come and gone, 2014 is still fresh and green with plenty of time for goal setting and planning, particularly when it comes to your business finances.
Like many small businesses, cash flow issues may negatively impact your business. Though the economy may be picking up according to some experts, slow growth can mean customers take longer to pay you, which could leave you in a rut. Businesses with poor cash flow or working capital may not be able to seize a business opportunity when it presents itself or take advantage of savings from bulk purchases. It is no secret that if your business is operating within tight, inflexible limits as a result of poor cash flow you will probably experience a fair amount of headaches and stress as a result.
Better Manage Cash Flow with Accounts Receivable Factoring
So empower yourself to leave your cash flow problems behind in 2013 by taking advantage of a range of tools now available to small businesses, such as accounts receivables factoring (often called invoice factoring), working capital loans, small business loans, purchase order financing and more. By taking control of your finances, you can manage your accounts instead of let them manage you.
Take Action and Gain Control with Small Business Financing
With factoring receivables, for instance, you collect on your invoices right away (in a matter of days instead of weeks) so you can pay your bills on time. When your customer does pays you, that money goes to the invoice factoring company (minus a percentage for the expedited processing). This way, you stay on top of your finances rather than being at the mercy and the whim of your customers. Today, many third-party accounts receivables factoring companies offer other small business financing options so you can choose the one that works best for your company.