Only a few weeks ago the stock markets had a bit of a wild time, with total capital value losses approaching £3 trillion, so, quite a lot. Quite rightly it received a sizeable amount of press coverage. Lost in this, as it really is the preserve of large corporates, was how it will affect small businesses moving forward.
Well, as seen with aftermath of the collapse of Carillion, much greater emphasis is being placed on payment terms and how large businesses sometimes use ‘bully-boy’ tactics to short change their smaller suppliers. In time, controls will inevitably be put in place to not let this happen, but what to do if you’re still having issues with being paid on time?
You’ve got a few options available to you. You can take out finance to help liquidity on a general scale or you can use invoice financing to ensure that monies are coming in every month.
Either way, if you focus on your business, and get paid on time, there will be opportunities for growth. And if you’re on thinking about expanding your operations or thinking through your finance options, it’s faster, simpler and better to use a broker.