According to a press release from Close Invoice Finance a recent survey that they have conducted reported that a number of companies in the West Midlands admitted to being ill-prepared for the disruption that a bad winter will bring.
The local head of Close stated that “If businesses aren’t prepared for the worst, it can have a serious effect on cashflow which everyone knows is the lifeblood of all businesses.
“The key for getting through one of the worst winters we’ve seen for years is preparation. Failing to plan could have a serious impact on your business and result in it being unable to trade.”
He went on to state that his “advice to businesses would be to have in place suitable funding arrangements to ride out any potential cashflow problems associated with the weather. Invoice finance is one option. It enables businesses to access cash immediately, easing any financial pressure and allowing companies to get on with what they do best – running their business.”
So now we know, if it looks like it’s going to snow, contact your friendly factoring broker and get your factoring facility in place before it has time to settle.