Printing and Publishing 101: Why Invoice Financing is the Hot New Kid on the Block
Printing and publishing are highly specialised industries, and this means they have highly specialised financial needs. As with almost every commercial sector at the moment, the recession has occasioned a cull of businesses, so that only the leanest, meanest, and most ambitious have survived. Those trading in such an environment simply can’t afford to stand still, and this means that borrowing has become something of a necessity for the average enterprise.
The invoice financing industry, like many lenders, has responded to this demand by creating a number of specialised packages to meet such a need. Enterprises like Touch Financial have devoted themselves to creating offerings that complement your business needs, and this is great news for competitive and ambitious companies.
So how could printing and publishing finance help you?
Invoice Financing Improves Cash Flow
In the world of business, maintaining a sufficient cash flow is a constant challenge. Clients rarely want to pay in advance, seeking instead payment terms that allow them to cough up one, two, or even three months down the line. This causes a serious issue for many companies. On the one hand, granting such terms means that you don’t have the money you need in your account when you need it; on the other, refusing such a request means that your clients might begin to look elsewhere.
This is where invoice financing comes into play. Advancing the cash you need upfront, these specialised financiers lend you money against your outstanding invoices, meaning that you’re only ever relying on money that you already have ‘in the bank’ in order to grow. This means that you can cover your costs as and when they arise, leaving you room to pay your staff wages, spend money on fulfilling your contracts, and invest any surplus back into your business.
Invoice Financing Allows You to Invest in Your Company
As we mentioned above, the invoice financing industry works by advancing you any money that you’re owed up front. This is great news for your business, as it means that you always know exactly how much you have in the bank. With an accurate picture of your financial standing, this leaves you a lot of room for investment, and we all know that investing in your business is the ideal way to guarantee its growth. If you want to hire more staff, purchase new machinery, or increase your business standing, invoice financing is probably your best hope of achieving these goals.
Invoice Financing Can Be Tailored to Suit You
As we stated earlier, the invoice financing industry offers a number of packages specifically tailored to the print and publishing sectors, and these make it an ideal choice for those looking to invest in order to stimulate growth. Many lenders will include ‘equity release’ options alongside their traditional offerings, meaning that if you need a lump sum of cash, they can realistically assess the value of your business assets, and use these as security for providing you with a one-off loan.
If your printing or publishing business needs a little boost, why not consider invoice financing today?