Find a cure for your cash hangover

Find a cure for your cash hangover

Everyone starts a new year with a renewed sense hope and excited about the prospect of what is to come in the next 12 months. But what if the tail end of the last year left you with a bit of a cash flow headache?

As January gets off to a sluggish start, and businesses that have overspent in December due to increased orders, Christmas Parties and Bonuses and increased stock purchases for retailers; are often also deprived by late payment of invoices due to the cash pressures of their customers. All this combined means that January can be a pretty dark time for business owners collectively.

Help is out there…

Whilst cash flow may be an issue for business, it is important to note that there is a plethora of cash flow solutions out there from a whole host of lenders looking to ease the pressure for businesses at these critical times. Look at the ways in which the commercial funding market can come to your rescue if you are struggling; you are not alone;

  1. Invoice Finance – Release the cash locked in your invoices and bridge the gap between issue of invoice and receipt of payment. Invoice finance covers a range of products to suit a variety of different businesses, it’s not a one size fits all approach. From construction to professional services there are businesses using these facilities to maintain a steady level of cash flow.
  2. Business Loan – If you need a quick cash injection a business loan could be the best option. Again, there are different loans for different situations; so depending upon your business and whether you need the money quickly or for the short term or long term make sure you take advice and finds the right loan for you and your business.
  3. Refinance your assets – Yes, you can refinance your current business assets. If you have earth moving plant, machinery, printing presses, a fleet of vehicles or engineering equipment then there is a good chance that you have cash tied up in these assets. Many businesses use asset finance for a cash injection into the business or it may even be worthwhile looking at this option to reduce your monthly payments.
  4. Collect in debts quicker – Sounds simple but it is often an area that is overlooked when a business is suffering from cash pressures. If you are not chasing payments effectively then outsourcing your debt collection activities can help recall some of the outstanding payments owed to you positively impacting on your current cash position.
  5. Strategic commercial finance planning – Get advice from a commercial funding expert. Have a review of your business finances against your goals and see what funding options are available to relieve pressure now and throughout the year ahead.

If you are looking for commercial advice around cash flow or structuring your businesses funding for the next 12 months contact ABL Business on 01274 965356 or email me