A problem we see, particularly within our perm recruiter clients, is bridging the payment gap between candidate delivery to actually getting paid, which can take up to 90 days! However, 90 days is unacceptable particularly to the small business.
Going into the temps supply market on a weekly or fortnightly payment cycle from your client can help with the low periods and your margins from this can at least cover the fixed monthly costs.
Running your business from home (tax allowances available) can be useful particularly to start-ups until you can afford to scale up your business with staff and external premises.
Software packages such as Fluidly can help you automate the Cashflow planning process.
Ever thought of asking for a regular retainer fee?
Outside financing, whilst it can be expensive for those on low margins, can be a great help in financing the growth of your business and most offer Bad Debt Protection as well to ease your Carillion type worries!
Should you wish to contact us to expand on any of the above points, or see if our solutions can help transform your business, request a 10 minute chat below.