Read the latest news about alternative business finance.
A report has shown that nearly a third of independent business owners are losing sleep due to concerns about how to improve business cash flow.
The report by Hitachi Capital showed that these concerns were caused by a variety of problems facing independent businesses, such as late customer payments and unexpected bills.
It is important for independent businesses to improve business cash flow to keep afloat, and it appears that the owners of companies are using a range of means to keep their business running.
The research also showed that 30% of companies have improved business cash flow from their personal funds, 16% have used overdraft facilities and 7% have received money from their family or friends.
However, only 21% of those surveyed had received funding from external sources, including both traditional and alternative financing methods.
It is vital that independent business owners are aware of the range of different funding options available to them. A traditional bank loan may not be the right solution to improve business cash flow due to the complex application and length of time it takes to receive funds. Alternative finance methods such as a business cash advance could work perfectly to improve business cash flow due to the speed of receiving funds and flexibility of repayments.
We are able to offer an instant cash flow boost to independent businesses who take card payments. The application process is quick and easy, and funds can be with you in as little as 72 hours. We typically advance up to one month’s card sales and repayments are flexible, moving up and down in line with your daily card sales.
To find out more, get in touch with one of our friendly advisors, who will tell you how much you can raise to help you improve business cash flow.