Many homeworker based businesses, both large and small, are turning to factoring as a method of solving their cash flow problems or to relieve themselves of the task of credit control. Factoring, or its sister method of invoice discounting, (known collectively as invoice financing) are ways of borrowing money on the value of your sales ledger.
Benefits of factoring for the UK homeworking community
Factoring provides a large and quick boost to cashflow. This may be very valuable for businesses that are short of working capital. A business that is owed £500,000 may be able to get £400,000 or more in just a few days.
- There are many factoring companies, so prices are usually competitive
- It can be a cost-effective way of outsourcing your sales ledger while freeing up your time to manage the business
- It assists smoother cashflow and financial planning
- Some customers may respect factors and pay more quickly
- Factors may give you useful information about the credit standing of your customers and they can help you to negotiate better terms with your suppliers
- Factors can prove an excellent strategic - as well as financial - resource when planning business growth
- You will be protected from bad debts if you choose non-recourse factoring - see the page in this guide on recourse factoring and non-recourse factoring
- Cash is released as soon as orders are invoiced and is available for capital investment and funding of your next orders
- Factors will credit check your customers and can help your business trade with better quality customers and improved debtor spread
The UK Factoring & Invoice Discounting Helpline
The UK Factoring and Invoice Discounting Helpline is one of the UKs largest independent invoice finance brokers, helping 1000s of businesses each year access the best solution for their business cashflow needs.
The team at the UK Factoring and Invoice Discounting Helpline are highly experienced factoring advice consultants specialise in providing cash flow solutions for businesses of all sizes and industrial sectors, ranging from manufacturing to recruitment.
The UK Factoring and Invoice Discounting Helpline is completely independent and works closely with a panel of over 50 different firms if factoring and invoice discounting firms.
The UK Factoring and Invoice Discounting Helpline carry out lengthy and detailed assessments before deciding which solution and lender is right for individual clients.
The UK Factoring and Invoice Discounting Helpline offer finance and recovery options to businesses based in the UK. The financial solutions they offer include
- Factoring
- Invoice Discounting
- Export Finance
- Stock Finance
- Trade Finance
- Asset Based Lending
- Account receivables finance
- Commercial Mortgages
- Asset Finance
- Company insolvency advice
For more information, call the Factoring and Invoice Discounting Advice Team on 0800 597 4757 or apply online at www.factoringhelpline.co.uk |
