Do I Send My Client to Collections? The collections process for small businesses is a major resource drainer. It takes time, effort, and consistency to get paid on-time. When clients are waiting longer than a few days to pay open invoices, it will hurt your company’s cash flow and growth. Delinquency averages around 7 to […]
Business Essentials: Collections Read More »
Working capital is the lifeblood of small businesses. You may be making sales and growing revenue, but how does that translate into profit? This is where your working capital and ability to grow without cash flow problems can translate to profit. Having more liabilities than assets on your balance sheet can harm your business in
What is Working Capital? Read More »
I’ve been in the industry for almost 30 years like my guest, Kris. I can honestly say we’ve been through a lot of recessions before, but I don’t think either of us have ever experienced an overnight shutdown of the economy quite like this one. I think the knock-on effect is going to be felt
Overcoming Current and Future Small Business Challenges Read More »
Now more than ever, it is so important that you increase your working capital in order to protect your business. A recession and global pandemic means that every business is shaken up. It is definitely possible that some of your customers will be unable to pay your business if you sell on credit terms. This
Understanding Credit Risk Read More »
If you have customers looking for you to grant credit terms, they’re going to typically want 30 days or more to pay. That can be a big drain on your cash flow if you have to wait for them to pay, but more importantly, you have to look at whether that customer can actually be
How to Negotiate Credit Terms with Your Customers Read More »
CEO Ian Varley discusses how to build your business credit score in this episode of #TheMoneyFactor.
Build Your Business Credit Score | #The Money Factor Episode 14 Read More »
Cash flow issues affect nearly every small business. To address them, there are numerous small business tools that allow for the influx of capital to cover the cash crunch, but don’t saddle the business with debt. One such tool is factoring. Within factoring, there are Recourse and Non-Recourse factoring arrangements. If you’re considering working capital
The Difference between Recourse and Non-Recourse Factoring Read More »
Invoice factoring and the amount available for funding relies on your company’s sales rather than the time you have been in business, personal credit score, or business credit score. Only 46% of businesses received the full amount of financing sought according to the 2017 Small Business Credit Survey. 44% to 90% of small businesses reported
Business Credit and How to Get Funding Read More »
Due to the disruption of small, medium, and large sized businesses in the wake of the COVID-19 response, the Small Business Administration is offering Economic Injury Disaster Loans. These loans are working capital injections that aim to help business owners pay debts, meet payroll, accounts payable, and any other overhead that is disrupted due to
How to Get an SBA Economic Injury Disaster Loan Read More »
We have entered into uncharted territory. There have been many predictions of some form of recession happening at some point, but we’ve never seen such a rapid shutdown of so many businesses. We don’t yet know what the full impact will be on our economy long term, but with some degree of optimism, we have
Keeping Your Business Going During COVID-19 Pandemic: 6 Tips on How to Get Paid Read More »
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