Top 3 reasons to use finance in your SME business…

The wide variety of finance options available to SME businesses reflects the diversity of businesses and a need for finance options to meet these specific needs.
Additional sources of finance can help businesses grow but at the same time help when things get a little tight.
But what are the top 3 reasons for SME businesses to use finance?
1. Timely access to your cash
You no longer need to wait 30, 60, 90 or 120 days for the payments to hit you business account and then clear.
The finance options available to you can provide you with the cash in 24 hours. This is a finance option that will grow with your sales meaning you’re never waiting for cash to come in again; combating the effect of late payments and non-payment on your business operations.
2. Purchasing Power
When running a business you are often required to make large purchases to complete projects or win new contracts. Although whatever you buy will always be an asset, you don’t always have the cash ready to buy.
Having a funding line in place for if you need extra machinery, vehicles or plant can make running a business much easier. Capitalise on those new opportunities without the expense or upfront outlay.
3. Peace of mind 
A bad debt or non-payment of an invoice can have a substantial effect on the cash flow of a small business and has often meant the business has to fold. This doesn’t have to be the case. When applying for any kind of finance, particularly cash flow finance the finance company will look into the financial history of customers. As a result of this the finance company could identify potential issues way before you would normally know anything about them.
There is added protection available if you feel it would be required and you can take out credit insurance that will protect you and your business in the short and longer term.
Why not think about the ways your business would benefit from additional access to cash.
We’ve created a cool cash flow planning template to help you. Good luck!
Cash Flow Planning Template - ABL Business Ltd