If you have a fluctuating cash flow, perhaps you provide a seasonal product or maybe you are experiencing a growth spurt and need finance to fund growth, then maybe you should consider an Invoice Discounting Facility as a safety net.
Cash Resources Invoice Discounting is a very flexible financial tool. It can be turned on or off like a tap. It allows you to take advantage of an unexpected opportunity, or meet a financial commitment when a promised payment does not arrive.
With Cash Resources there are no locked in contracts, no set volumes, the facility can be used when required, and there is no need to enter into long term contracts with a bank.
When you send out invoices, how long do you wait after receiving confirmation of receipt from your customers? If you take too long, you could actually be helping to cause your customers to pay late. A survey has shown that 11% of businesses wait 14 days or more after delivering a product or providing a service… is your business one of those lagging behind?
If you need help to improve cash flow, contact your nearest Cash Resources office.
Every year new successful products hit the market and we commonly see and know about those successful products. While these successful few are the result of effort and focus, these products and many failed products all started with good ideas. As a product innovator, you may believe all that is required is a good idea but there is much more required for commercial success.
Commercial success is not defined as a good idea, but as the ability to make a profit on the idea. Your early efforts to bring an idea to market must be focused on answering that key question of “can my idea make money?” For an idea to make money, a sufficient number of customers must be willing to pay a high enough price (when compared to the cost of producing and selling that product).
How do some small businesses manage to grow and thrive while others perennially struggle and miss opportunities that come their way? It appears the most successful business owners display some clear patterns and habits.
Here are 8 secrets for achieving growth even in a poor economy:
Grow to survive – Many small or local businesses assume it’s best to reduce offerings to survive tough times. While this seems intuitive, sometimes the answer is to do just the opposite – to grow. Before cutting back and shrinking your business, consider first whether additional funding might help.
Check your ego – You know your business inside and out, but that doesn’t make you an expert at running it. Smart business owners only know what they know. Don’t be afraid to ask for advice and then, take it.