Tax payments causing headaches for small businesses

With tax deadlines approaching, a new survey has revealed that more than one in 10 small business owners are struggling to settle tax bills.

Research published on the Director of Finance website also indicated that 7% have missed a tax payment in the last 10 months as they simply haven’t had the accessible cashflow to be able to settle tax bills.

As the cut-off date for self-assessment tax returns creeps ever closer, business owners may find themselves with larger than expected tax bills and thus could require an external finance solution.

And with bank credit increasingly hard to access, small businesses may need to seek alternative funding solutions to help increase cashflow and stave off tax bills.

Invoice finance solutions

Many businesses are sourcing out alternative methods of finance to help keep cashflow high, with invoice finance proving to be one of the most popular choices.

Invoice finance includes invoice factoring and invoice discounting facilities, which work to increase cashflow by freeing up cash from unpaid invoices upfront.

Why not browse our website to find out more about how invoice finance could benefit your business, or give us a call today and speak to one of our experts about a funding solution tailored to your needs.