Rising Star in Commercial Finance

Invoice Factoring company Uk

Simply Factoring Brokers enjoyed more media coverage this week when our MD was featured in the Business Insider ‘Rising Stars’ feature.

Far from enjoying the limelight, our managing director Steve, prefers putting his head down and working for quantifiable results and actively avoids traditional PR exposure. Ironically, working hard towards a goal is the very act that produced perfect PR material.

Recent Exposure Following Business Growth

Much of our recent coverage in the press focuses on our growth. Such as the piece in the South Wales Argus regarding our new offices and new members of staff, myself included. This then, is a welcome change.

Simply Factoring's Rising Star in Business Growth Top Forty List. The fastest growing commercial finance broker in the UK.

Simply Factoring’s Rising Star in Business Growth

Not only is the coverage an affirmation of where Simply Factoring is heading, it is also a confirmation that the decisions made to grow staff and operating locations is positive.

Speculating to accumulate is a well-worn phrase, but it is particularly relevant to our situation. Ultimately, growth must positively impact the business’ bottom line. The rapid growth we are experiencing is thanks to significant investment and a vision that is anything but myopic. The question is, when do you grow your business and how do you know what risks are worth taking?

Commercial Finance Funding Growth for Your B2B Business

Growth has a direct link to working capital, especially when you operate in a B2B environment. It’s common for some businesses to get paid in Q2 for work completed in Q1. Even operating on 30 or 90 days terms can put a strain on your business.

So how do stop turning away business? How can you expand your customer base and see good growth numbers while minimising risk? The answer is to streamline your operations.

If you own your own business, then you probably know how much time and effort is put into chasing payments. Even when you employ an accounts receivable department, you are adding a cost, which still limits your growth. You are at the mercy of your customers and the speed at which they settle invoices. The simple solutions is invoice finance.

How Invoice Finance Fuels Growth and Limits Risk

Invoice finance is essentially selling your sales ledger, but there are many advantages to your business if you use this form of alternative finance.

  1. Quick cashflow as up to 90% of invoices are paid within a day of you raising the invoice and sending it to the customer. The remaining 10% (minus fees) is released when your customer pays your funder.
  2. Accounts receivable actions are the responsibility of your chosen funder, which means they will chase payments for you. This is not like a debt collection service, where there are negative connotations. Your funder will even provide this service confidentially in a white label fashion if you prefer.
  3. You have options of bad debt protection, which means you protect the value of your invoices and avoid your customer’s financial problems becoming your problems.

The three points above, make a convincing argument for the use of invoice finance to fuel growth. That’s not to say that invoice finance is right for all businesses. Where better options exist, we advise on the right product to suit your business. The key takeaway here is that growth is possible in all financial climates when you are able to manage risk and exposure properly.

If you would like to know more about our services or how we can help you secure the right commercial finance cash injection for your business, give us a call on 0333 772 1558

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