New clients, we all want them and we try everything in our power to find them. The internet along with social media has made it possible for almost anyone to get their message out to the masses at an extremely low cost. With an internet connection and a very small marketing budget you can create a web page, post content on Facebook, LinkedIn, YouTube and a variety of other outlets depending on your specific need or preference. Our position in the factoring business has always been to keep a lot of irons in the fire when it comes to marketing on the internet. As important it is to have a great website, it is just as important to create useful content to educate our audience about what we do and how our services can benefit their … [Read more...]
Archives for March 2014
Tax Time! Five Tax Tips to Benefit Your Factoring Business
No time of year puts quite the same amount of panic into a factoring business owner as tax time. Properly filing and paying your business taxes is one of the most important things you will do all year, and can also be one of the most complicated. With that in mind, we have five tips to keep your tax season running smoothly. Tip #1: Get the right person to prepare your taxes. (Hint: it may not be you.) It can be tempting to save money by filing your business taxes yourself – after all, who knows your factoring business better than you? Before you break out the pens and calculators, though, think about whether you have the time and the tax knowledge necessary to accurately report all of your earnings and deductions. Mistakes can cost you … [Read more...]
International Factoring Association Conference 2014
The 20th Annual Factoring Conference will be held April 9-12, 2014 at the Westin St. Francis Hotel in San Francisco CA. This convention is organized the by the International Factoring Association and attendance is on track to make this year's conference the largest gathering of Factors ever! Whether you are a Factoring Company, Broker, Asset Based Lender, Trade Finance Professional, Bank, or anyone that supports this group, join the top factoring industry professionals by attending this unparalleled networking and educational event. 2014 Factoring Convention Schedule and Speakers Sessions are designed to be educational, informative and entertaining. Speakers Dr. Christopher Thornberg - Economy Jeffrey Ma - Power of … [Read more...]
Should Your Factoring Company Also Offer Purchase Order Financing?
Recently, I have been writing articles about brokers who want to start factoring companies. As I have mentioned previously, the factoring field is very competitive, so you have to be highly selective when you choose your market niche. Some new factoring companies have taken this strategy a step further and differentiate themselves by adding niche products such as purchase order (PO) financing. This article discusses whether this is a good strategy. A brief purchase order financing tutorial Basically, purchase order financing helps companies that have a purchase order and need funding to fulfill it. In principle, the product sounds great. However, it has a number of restrictions. Specifically, it can be used only for transactions … [Read more...]
Funding Invoices With Fundbox
Invoice funding is not always factoring. We were reminded of this in February when we highlighted a case study on social media marketing in the article Is Invoice Factoring Becoming Mainstream? We were intrigued by the company with an innovative marketing approach and decided to dig deeper in this interview with Tomer Michaeli, VP of Business Development at Fundbox. A NY-based technology company, Fundbox is helping small businesses, freelancers and home offices grow by overcoming short term cash flow gaps. They also accept referrals from factoring brokers and are a new addition to the 2014 Directory. Is Fundbox a factoring company? Tomer Michaeli: No, Fundbox is a technology company that offers business owners and freelancers a … [Read more...]