2020 was a challenging year for everyone. Many businesses saw closures, furloughed staff and the need for more support than ever. One of the biggest factors businesses across the country saw change was an increase or decrease in demand. Whether it was a logistics business working with supermarkets experiencing a sudden increase in demand, or a small printing business experiencing demand come to a halt, all businesses have been somehow touched by the ongoing pandemic. With what appears to be another challenging year ahead, many businesses will be looking for better ways to manage their expected changes in demand, now in the position to forecast these changes following 2020.
If you are looking to unlock cash tied up in unpaid invoices but are also worried about meeting the funding requirements due to fluctuations in demand, Invoice Finance may be a great option for your business. Many businesses will experience some form of change in demand for their products or services throughout the year. The main example of this is seasonal fluctuation where most businesses will see a surge in demand over the Christmas period and may find this difficult to manage. As with seasonal changes, the effects of the COVID-19 pandemic have meant that many businesses are now seeing fluctuations in demand in periods where they may not have previously expected. Invoice Finance is a great solution for businesses who experience these fluctuations as your facility grows with your business. With our flexible solutions, your facility can increase as your sales increase and vice versa. This means that you can begin to manage expected changes in demand and amend your facility as you do so.
Why is managing demand important?
Many businesses will have experienced a quick and unprecedented variation in demand over the last year, with one client disclosing a 652% increase in sales in 2020 compared with the same period of 2019. This can result in lack of stock, being understaffed as well as lack of funding due to a decrease in sales. By having a plan in place is more important than ever and by having a facility in place which grows in-line with your sales, you can continue to run your business smoothly and without the worry of cashflow restraints.
How we can help?
At Skipton Business Finance, we offer a range of flexible solutions, including Invoice Factoring and Invoice Discounting, which can help businesses gain access to money tied up in unpaid invoices. Imagine the benefits of not having to wait 30, 60 or even 90 days for your customers to pay you for your hard work. Our solutions are flexible to meet your needs and can grow as your business and sales ledger grows so that you are always able to manage your demand.
Find out more about our Invoice Finance products below:
- Invoice Factoring
- Invoice Discounting
- My White Label
- Disclosed Invoice Factoring
- Recourse Invoice Factoring
- CHOCS Invoice Factoring
- Skipton Select - Interest-Free Invoice Factoring
- Confidential Invoice Discounting
- Disclosed Invoice Discounting
- Recourse Invoice Discounting
- Invoice Discounting for Small Businesses