Five tips for recruitment companies wanting to grow and expand using invoice finance:
- Create a cashflow forecast. Spend some time mapping out a realistic forecast of the forthcoming year, pay close attention to any potential gaps between when you expect to receive payments and when you have upcoming expenses.
- Use invoice finance to improve your working capital. Invoice finance can help you get access to funds before invoices are paid. This can help you to cover costs such as staff wages, marketing, and office expenses. Find out how much cash you could release from your unpaid invoices using our invoice finance calculator.
- Use invoice finance to invest in your business. Invoice finance can also be used to invest in your business. This could include things like hiring new staff, expanding your office, or investing in new technology. Investing in your business can help you to grow and expand in the long term. Speak to an expert adviser at Close Brothers Commercial Finance. This no obligation consultation will allow to you assess the merits of an alternative funding solution.
- Use invoice finance to improve your customer service. Invoice finance can also help you to improve your customer service. When you can pay your invoices faster, you can improve your payment terms. Consider a factoring solution if you wish to outsource the collection of payments to a third party. This will allow you to focus on the day-to-day running of your business.
- Use invoice finance to manage your risk. Invoice finance can help you to manage your risk by providing a safety net in case of an unexpected event. For example, if a client goes bankrupt, you may not be able to get paid for the work you've done. Our bad debt protection solution can help you to operate secure in the knowledge that you are covered should your customers get into financial difficulty.
