I gave up on New Years Resolutions years and years ago, as none have ever been kept passed the 4th January!
Many people start the year with such good intentions to do something differently and change their life for the good. But how many do the same for their businesses?
Whilst some of us will wake up from our Christmas lunch-induced slumber, half way through a James Bond film, with one bleary eye on the last remaining mince pie and “the diet will start next week” grin... how many of us actually take stock of our businesses during this period?
Many businesses will be entering the New Year with a severe hangover and in need of a few resolutions themselves.
Slow sales, holiday shutdowns, wages and VAT to pay can all cause headaches in the first few days back after the festive period. Especially with customers taking longer to pay for goods or serves, the cashflow gap only seems to get bigger when everyone returns to work in the New Year.
Traditional bank facilities can often prove restrictive during such periods when you need a little extra help, constraining your cashflow. Maybe instead you should be considering an alternative, to really kick-start your business in a brand new calendar year.
Factoring and invoice discounting facilities offers a dynamic funding solution which grows with your business and doesn’t normally require putting your house or personal property on the line. It can generate twice as much funding when it is needed and is suitable for businesses who may be in turnaround or highly geared and feeling a little unloved by their bank.
Why not make a resolution now to sort out your finances in a more flexible way and get the New Year off to a great start in both a personal and business sense!