Business service providers in the UK cover a vast array of industries, including security and IT, industrial cleaning and design.
Although the sector is diverse, all business service providers have one thing in common: they do business with other companies to whom they offer credit terms. With payment terms commonly stretching to 60, 90 or even 120 days, it is inevitable that cash flow may be put under pressure trying to meet the credit terms demanded by their own suppliers as well as meet overheads for staff and offices premises,
Businesses which lack a professional internal credit control function can be particularly hard hit when customer terms are extended. However, there are a number of commercial finance products, such as invoice factoring and invoice discounting, which can be attractive to business service companies both of which bring cash into the business faster, some within 24 hours of an invoice being raised. This approach also benefits from there being no security required, and credit ratings are neither scrutinised nor affected as this form of business services funding is secured on your unpaid invoice values.
The Finance Exchange has worked with a wide range of businesses in this sector each of whom have sought to mitigate cash flow issues. As a result of the financial comfort they have received through the various funding solutions we have negotiated for them, many have gone from strength to strength with a new found confidence to pitch for and take on the larger contracts which they would not have considered prior to securing funding via The Finance Exchange.
However, there are a myriad of options offered by lenders, so it is really important the business seeks advice from specialists who have deep experience of business services, who can guide them through one of the most critical business funding decisions they will ever make
Our funding solutions provide upfront working capital, helping businesses to fulfil orders - even when their biggest customers delay invoice payment.