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Small Business Factoring
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If you run a small to medium-sized business, you might think that invoice factoring isn’t for you. After all, it’s easier to keep everything in-house, isn’t it?
Well, not necessarily. Sometimes, trying to do everything yourself can be a big mistake. When you run your own business, it can be tempting to try to ‘do it all’ because you have invested too much, both financially and emotionally, to want to delegate any aspect of the work. You might also think that by looking after everything yourself, including invoices, you will keep costs down. But the reality is that no one can specialise in all areas, and that sometimes trying to save money can prove to be a false economy. This is where small business factoring comes into its own, and where Simply Factoring Brokers can help you.
This is because matters such as invoicing can a) be time consuming and b) sometimes require a little diplomacy! When you need to focus on developing your small business, invoice factoring can take care of your cashflow so your great ideas are not held up by a lack of capital! Also, small businesses depend on good relationships with their customers, in terms of getting repeat business and also to get recommended to other local firms. Small business financing can therefore take potentially difficult discussions about late payment out of your hands, leaving you to build and maintain strong contacts within your local business community.
What are the benefits of small business factoring?
- It can help you manage your cash flow and pay wages
- It is a quick and easy way of releasing capital
- Small business financing can help you meet invoices more quickly yourself
- Some small business factoring companies offer additional services such as matching timesheets to invoices, processing payroll and producing payroll slips
- You can add bad debt protection to your small business funding, offering peace of mind
How can Simply Factoring Brokers help?
We realise that cashflow is a continuous problem for businesses of all sizes, including SMEs. We work closely with a range of specialist factoring companies and are experienced at matching the right funders with small businesses. You can therefore, rest assured that the funder we recommend will be able to tailor a plan specifically towards your small business, boosting its growth and development.
For more information on small business factoring and to see if it is right for your firm, give us a call and speak to one of our team of specialist brokers.
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Simply Factoring Brokers Ltd The Stables, The Estates Office 25-26 Gold Tops, Newport. NP20 4PG 02920863213