Recruitment - Releasing cash tied up in your invoices
Credit Gaps
The recruitment industry will often have cashflow issues at the heart of any financial problems. With payments not received from clients for anything up to 90 days while needing to maintain a regular financial outgoing, either to ensure temporary staff receive their weekly pay, or for regular company expenses, this can cause huge gaps in credit. In turn, lack of cashflow can also stunt growth as finances are tied up and not resourced for fuelling business development.
Start-up recruitment companies can also find it tough to receive financial assistance. Many lenders are wary of the high dependency on one or two customers included with start-up companies, which diminishes the equity available for lending.
Industry Specialists
However there are many solutions to raising finance for the recruitment industry. There are specialist financers who deal with the industry and understand the difficulties faced. Solutions that are available can release cash from assets that may not always appear to have value. For example, as timesheets are a valuable asset, Invoice Financing can be drawn from them.
Specialised lenders know the problems faced within the recruitment industry and can offer finance packages based on the assets available. This can include:
Recruitment Finance
Finance packages can also include back-office assistance, to help smaller and start-up companies with invoicing, PAYE, orders and most back office based work. These packages are specially designed for the recruitment sector to assist in the management of the back office.
With Touch Financial’s strength and depth of it lender panel, it is perfectly placed to know which lenders are right for each customer in each situation, and can help with everything from the complete back office solution to the right financial deal, so why not talk to us today
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Every month Touch Financial help businesses improve their cash flow with invoice finance. Request a quote to find out how much extra cash you could raise.
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