Accurate forecasting and business planning is obviously key, but there are also a number of finance options available to you.
The most commonly used sources are…
A business loan provides you with a set amount of money that will need to be re-paid over a set period of time for a set interest rate. These are a traditional method of funding but lack flexibility.
An overdraft is another option, and they can be perfect for covering unforeseen eventualities. However, this is also an unsustainable and potentially expensive way to fund your business.
One of the most popular options, commonly used by temporary recruitment agencies is invoice finance. This works perfectly to cover the funding gap that exists as businesses can release the value
in their unpaid invoices within 24 hours of them being raised. It also provides credit control support and the amount available to you grows as you grow.