It’s no surprise that factoring businesses, new or old, rely on steady and abundant cash flow in order to be profitable. Being smart about how and where to efficiently manage funds can make or break the difference between flourishing and floundering in the world of factoring. Check out these ideas on how to cut costs so that you’re not overspending in areas that could be hurting your factoring company. Replace Print with Social Media It may not seem like a big deal, but the use of social media for marketing is no longer an option. Given that social media/networking is the top online activity in the US, small businesses can use it to capitalize on increased brand exposure, web traffic and even possible sales. Social media offers … [Read more...]
Archives for April 2015
Bending But Not Breaking In Factoring?
The factoring industry is unique. If we had to write a mission statement for what we do it would read something like – “To provide cash flow to businesses to sustain and expand their operations”. The cash flow that factoring companies provide is through the purchase of clients receivables at a discount which allows the client to utilize the capital for expansion, take advantage of vendor discounts or any other reason they may have to keep their business an on-going concern. Over the past several years many new factors have entered into the asset based industry, as traditional lenders constricted credit to new and existing businesses. The aftershocks of the great recession had a rippling effect that was felt from Wall Street all the … [Read more...]