The New Year is upon us, so how should your SME deal with late payments at the start of a new year?
It is the most exciting time of the year. With the festive season passing it is now a New Year, and we are ready to look forward to the year ahead.
Owning or running a small or medium sized business is non-stop, so you might not have had the chance yet to sit back and look at the year gone, and plan for the year ahead. Try leaving what you can in the previous year and move forward to new ideas and better results in 2022.
However, this isn’t always possible, especially when it comes to late payments. If you have had late payments that have tumbled on through the end of the year and brought themselves into the New Year this can be disheartening. It also might be impacting your cashflow and not allowing you to be able to look forward and plan for the future.
While this isn’t a nice situation to find yourself in, it isn’t uncommon. Many small and medium sized businesses face cashflow struggles throughout their years, as a result of late payments. You can always try your best to avoid this issue, but unfortunately it is often something inevitable and unavoidable.
So, then how can your SME deal with these late payments in the best way possible? Especially at the start of the new year when cashflow might be tight and business has slowed down for the period following Christmas, when it is the most needed.
One simple and effective solution is tailored invoice financing or invoice funding solutions from a non-bank lender. Invoice finance offerings are an excellent non-bank option to improve cash flow and help to avoid any detrimental cash flow issues around the New year period.
So, why a non-bank lender? Well often when SMEs are searching for finance options, they will struggle to find a big bank to finance them. The lack of bank finance options for SMEs can create more cashflow problems for this business, as there is no safety net or fall-back option for them to factor into their financial plans.
If you are looking for a non-bank lender who can help your business to deal with late payments in the New Year through a tailored invoice finance option, then look no further than Grow Finance.
Grow Finance specialises in providing a vast range of tailored finance solutions to SMEs. Their invoice finance offering is a safe and secure non-bank option for small and medium sized businesses looking for a way to deal with late payments, without messing with their cashflow.
If this sounds like the right move for your business in the New Year, then find out more by talking to the Grow Finance team today. Call 1300 001 420, for more information, or if you are ready to move forward then apply online now.
Your business’s New Year could be better than you’d ever imagined with the help of Grow Finance and their invoice finance solutions.
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