UK Economy – The growth that could cause your business some major problems - Image

UK Economy – The growth that could cause your business some major problems

Researchers believe that the UK economy is soon to be back on track to before recession levels. If you want the stats, the National Institute of Economic and Social Research (NIESR) estimate that 2014 will see a 2.9% growth in GDP with 2015 showing a 2.4% growth.

What this means for your business is increased spending and increased demand. This is not only for consumers, but also from businesses, such as manufacturing and construction which are two of the industries to see fairly significant growth of 1.4% and 0.6% respectively over the past quarter.

Why could an increase in demand for your business’s products and services cause problems?

Having an increased demand for your business’s services may seem an exciting prospect. And that’s because it is – more demand means more supply from your business, and an increase in supply means your revenue can grow. But before all of this happens, you need to plan for the added productivity; ensuring you have enough supply and resources including materials, components and staff to cover the extra boost in demand.

The problem is – and this is particularly evident in the B2B sectors such as recruitment, manufacturing and wholesale – the credit terms which come with a sale. How can you fulfil future orders if you are waiting 30, 60 or 90 days for the cash you need to arrive from the clients you have already supplied too?

What if you could advance the cash you are waiting for?

One of our favourite products for helping businesses grow is something called invoice finance. You have likely heard the term, or terms associated with invoice finance such as invoice factoring and invoice discounting. It works by advancing the cash you have tied up in unpaid invoices.

1) You raise an invoice with your customer, explaining payment terms of 30-120 days.

2) You send a copy of that invoice to your invoice finance lender. They will then provide you some of the value of the invoice as a cash sum within 24 hours.

3) You now have the cash 29-119 days earlier than you would have typically received it by. This can now be used for fulfilling your next order or project so you can start making money sooner.

Learn more about invoice finance and speak to an expert at Touch Financial for free, today –

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