March continued to be busy with a number of new clients joining us across a range of markets and varying in the size and nature of the facilities. Below are some examples of the more interesting deals:
Market Sector: Car BodyshopSales turnover: £1.5mFunding Line: £150,000Location: Midlands
Requirement: Selective Invoice Finance.
TIPS TO IMPROVE YOUR CASH-FLOW
1. Think of your cash flow as the most valuable part of your business - every time you give credit terms to your customers it is costing you cash flow (as well as real money)
2. Try to negotiate extended credit terms with your suppliers to improve your cash flow (and save you money).
3. Wherever possible ask customers to pay on invoice.
4. If you have large customers who expect longer payment terms, ask them to pay in 14 days, before you go to 30 days.
At the recent Recruitment Expo in London we had a buzzer game on our PayFactory stand. This was one of those wire contraptions that you have to complete without touching the wire..I know what I mean.
Personally I couldn’t even complete the thing and most people took a few goes and completed it in a couple of minutes. We thought that the best time would be about 60 seconds.
But we hadn’t reckoned on the superhuman powers of Tim Dare (son of Dan?!).
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