For all kinds of firms, cash flow is a huge issue, with tens of thousands of companies in the UK going bankrupt due to such issues every year.
Often these cash flow problems are created when customers do not pay their invoices on time. A recent survey carried out by Sage Pay, shows that nearly two thirds of businesses in the UK experienced late payments of 90 days or more. Consequently, many firms just do not have enough cash in the bank to stay in businesses, sometimes even when they have full order books they end up folding.
Fast decision financial products
In the past there was little that firms could do about this situation. However, this is gradually changing. Today, companies of all kinds can quickly access finance before they run out of money, which results in them having to let skilled members of the workforce go or shut their doors completely.
Many providers of alternative finance products such as peer-to-peer lending and asset financing make decisions very quickly. There is usually no need to provide a business plan, which makes the application process quick and easy.
Flexible financial products
As the name suggests, these products have the advantage of being flexible. Firms can often pay off their loans early or borrow more to take advantage of a business opportunity.
We can help
At DJB, we provide financial products that can solve many business cash flow problems. To take advantage of our expertise all you need to do is to get in touch today.