If you're a small business, you are likely always looking for ways to improve your cash flow. Here are some great tips from Tweak Your Biz:
1. Factoring and Invoice Discounting – Both are, according to the article, simple and straight forwarded processes that allow companies to leverage their invoices to raise case and get paid earlier than they would otherwise.
2. Company Growth Loans – These types of loans are designed to support small businesses that need funding to help grow their operations.
3. Asset Refinance – The article states, “With banks and traditional routes to finance drying up as a means of securing loans, a growing number of businesses are finding ways to leverage any assets they have to raise cash. Ideally, using assets to access loans would not be necessary but when it is, the option can provide much-needed and highly valuable flexibility.”
4. Asset Finance – According to the article, asset financing can allow small companies to target growth in key area by allowing them to get tools or technologies that might make a big difference, but are otherwise unaffordable.
5. Bridging Finance – This can provide companies the money they need on a short-term basis, holding them over during tough times.
Do you have any cash flow tips?
To read the full article, click here.