From the outside it seems fairly simple, doesn't it? Your company appears to become a cash flow machine just by utilizing this type of financing for Canadian business. And what could be better than a financing strategy that brings no debt to the balance sheet and doesn't dilute your ownership either - that seems to be to powerful ' whats in it for me ' reasons right there!
But will this type of business financing benefit your firm. We'll say two things about that - it will, but, and it's a big but, only if you manage the whole process properly. Very clearly speaking it's a case of having a strong handle on your overall financial position at any point in time. Let's be honest also, any cash flow problems you have now did not happen overnight and your ability to both manage working capital and plan for cash flow needs is key to everything we are talking about here .
Clients are always asking about the benefits of financial factoring - those seem obvious - you can grow your sales revenues, purchase additional products such as key inventory requirements, and one other benefit that many Canadian business owners almost always forget. What is that key benefit?
Simply that you are now in a position to reduce the cost of this type of financing by utilizing cash to take supplier discounts as well as purchase your goods in a ' smarter and harder ' way . Imagine being able to say to your suppliers that you will pay them on delivery... if you can get a better price.
Canadian businesses that consider business to business financing comes in all shapes and sizes! The reality is that you can set up a facility to finance 15k a month or you can set up a facility for tens of millions of dollars. Larger facilities come with improved rates, as well as a day to day business model that you will find more accommodating.
So what about that cost of factoring - There isn't a day when we aren't debating that issue with customers. In Canada the cost of business to business financing and financial factoring ranges from 1-3% a month on balance - yet don't forget we've shown you how to potentially cut that cost in half when you utilize the cash flow generated in a positive manner.
As a business owner, if we had asked you these questions yesterday "Where will your cash flow be 6 months from now? what would have been your answer . We're betting that you would say that you just don't know the answer to that one - however if with accounts receivable financing you can now say with surety that if you will have sales you will have cash flow ! Simple as that.
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