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Business Factoring

When you first dreamt of running your own business is this how you imagined it?

Unfortunately the reality rarely matches the dream, and many company owners are finding themselves having to waste more and more time dealing with administration issues.

Whether it’s chasing up invoices or dealing with accounts, it’s almost certainly not what you had in mind when you started your dream company.

Talent like yours shouldn’t be wasted on the phone listening to excuses for unpaid bills. You should be out there on the front line generating new ideas to grow your business and – to put it frankly – doing the job that you want to be doing.

What Choice do I Have?

Sadly, in these economic times, it can be difficult to see another choice. You probably can’t afford to increase expenditure by bringing in more staff to deal with your accounts, so you have do it yourself to save money.

This seems like the logical approach but really, if you think about it, it doesn’t make a whole lot of sense. Dealing with the issue in this manner leaves you in a catch 22 situation.

You may well save money in the short term by avoiding extra expenditure, but you are almost certainly going to be sacrificing extra profit and business growth if you are investing your precious time into menial tasks.

You should be at the helm steering the ship not crunching the numbers, so what can you do?

Introducing Factoring

The answer to your troubles could lie in debt factoring. This is a strategy by which you can transform your unpaid invoices into cash almost instantly.

By working with BusinessFinance.org, you can receive up to 95% of the cash tied up in your unpaid invoices within 24 hours.

You will effectively sell your invoices to a factoring service, who will then take responsibility for acquiring the cash from your customers.

You’ll save on admin and dramatically boost your cash flow. Take back control of your business today with this proactive approach that will stop you having to hold off creditors while you chase up late customer payments.

How Factoring Works

Factoring services effectively allow you to access cash before your customers have paid off your invoices. The factoring service can also take over responsibility for ensuring that any unpaid invoices are chased up – if this is what you wish. Here’s the usual process:

• You will generate an invoice for your customer. This will ask them to make the payment out to the factoring company (or to you if you do confidential factoring which means the customer doesn’t know that you are using a factoring service). You will then send one copy to the customer and one to the factoring company.
• You will then be able to draw up to 95% of the invoice value from the factoring company, as and when you need it.
• They will then take over dealing with the invoice. This will sometimes include chasing up any unpaid invoices and contacting the customer if necessary. They can do this as a representative of your company if you wish – this keeps the factoring arrangement totally confidential.
• Sit back and relax! Or use the extra hours that you generate to explore further business growth options.

The Next Step in Business Factoring

If you’re looking to take the next step to increasing your cash flow and freeing up your schedule, get in touch with BusinessFinance.org today.

We have access to an impressive network of trusted factoring partners, and will help you to choose the perfect solution for your business.

Rather than wasting your time contacting a number of different companies, leave the legwork to us. We’re happy to offer you free advice and help throughout the entire process. We operate a jargon free help service, so you’ll soon understand every little detail of the factoring process.

We also offer a varied range of other business finance options to give you access to the capital that you need. If factoring isn’t for you, perhaps something else is? Get in touch today to see how we can help you.

To take the first step or to find out more, call 0845 680 3015. Alternatively, hit the “compare quotes button” below.