The run up to Christmas and first few weeks back in January are one of the hardest times of the financial year for businesses struggling with cashflow.
Manchester, UK (PRWEB UK) 18 December 2012
“The run up to Christmas and first few weeks back in January are one of the hardest times of the financial year for businesses struggling with cashflow” warns Nick Cookson of Target Business Assist one of the UK’s leading invoice finance brokers.
Due to increased enquiries for invoice finance solutions prior to the festive period Target Business Assist has been made aware of an acute problem with financing solutions for business as January fast approaches.
Based on enquiry data received over the December period Target have noticed that many UK businesses are struggling to get invoices paid on time which is leading to potential cash flow problems for January.
Already staff are using holidays to give them an extended Christmas break, sickness is rife and this leads to finance departments shutting down, signatories being absent, cheques not being signed so invoices are not getting paid.
This often leads to the only option being expensive and costly overdrafts and sometimes worse still payday loans or the use of the company credit card. Quick short term fixes of course, but short term gain leads to long term pain and a stressful and taxing start to the new year.
Nick explains “Taking proactive steps now before the festive break kicks in rather than burying your head in the sand until after Christmas could be the make or break of any business”.
By using a facility such as invoice factoring it enables invoices due to be turned into immediate cash which helps with daily running costs and growth. The lender effectively “buys” the invoices in exchange for advance payment. This bridges the gap between invoicing and payment and helps to keep the cashflow healthy. The lender then collects the payment and pays back the balance less their fees which often work out a lot more cost effective than other options available.
There are currently many banks and lenders offering this type of funding facility. Target Business Assist are one of the UK’s leading independent brokers who offer free and impartial advice to businesses to help them find the best deal on the market and the right provider for their specific needs.
Business owners should look ahead and make plans for a productive and successful new year rather than a worrying one. Knowing you are fully prepared you can finish for Christmas, enjoy the break and look forward to hit the ground running on your return in the new year.
Target Business Assist Ltd can help your business secure the vital finance that it needs to survive over the winter months by arranging Invoice Factoring, for more information on how they can help you please visit http://www.targetbusinessassist.co.uk/ call Nick Cookson on 0844 846 7475 or email info (at) targetbusinessassist (dot) co (dot) uk.