Over the Christmas and New Year break a number of businesses operate on skeleton staff or shut down completely. For many, this means little or no sales activity over this holiday period, however there are solutions to help with cash flow.
In addition, debtors hold back on paying invoices, creditors are in a rush to be paid and staff wages must be met even if the office shuts down for any period of time.
Subsequently any, or a combination, of these can create headaches for business owners with working capital required to ramp up sales or purchase stock in the New Year.
We recently assisted a small business owner who reported a dip in sales activity coming into the Christmas period. We reviewed the trading activity of the business, along with its historical financial performance, and within three business days were able to recommend, apply for and have drawn down, a short term working capital facility for the business.
This cash flow injection enabled the business to trade soundly over the holidays, providing the business owner with peace of mind. Furthermore this gave us time to review the wider state of the business’s financial affairs and to structure a long term finance solution that replaced the short term facility with a secured business overdraft, suitable to the long term needs of the business.
So if you’re a business owner and experiencing tighter than usual cash flow in your business, please don’t hesitate to call us on 9442 0050 to discuss how we can provide both short term and long term cash flow solutions, tailored to your business.