As 2019 winds to a close, many businesses are trying to position themselves for a robust start to the new year. Some want to improve cash flow to reduce gaps in revenue from customer payments. Others want to achieve growth and reach their projected goals without relying on debt-based loans. All of these are attainable, and there’s no better time like the present to start.
Improve Cash Flow for 2020
Many businesses that make sales at the end of 2019 will not see revenue from their customers until 2020. Invoices with staggered payment schedules of 30, 60, or even 90 days could find themselves waiting until January, February, or March to see revenue for their sales. This could force businesses to put plans on hold or enter the new year in a financial position that is less than ideal. The best way to improve cash flow is to use invoice factoring. Invoice factoring converts unpaid receivables to cash within 24 hours, so businesses can stop waiting on staggered payment schedules and greatly increase the amount of revenue coming into their accounts.
When your clients are making payments on invoices according to staggered payment schedules, accumulating the capital necessary to roll out growth projects can be challenging. Businesses are forced to move internal goal posts, stalling what would otherwise be rapid expansion. As shown above, invoice factoring can improve cash flow, but it can also help businesses achieve growth. As the rate of cash flow improves, businesses can build up capital reserves to take advantage of growth opportunities without relying on debt-based loans to reach the next big milestone.
Make 2020 a Lucrative New Year
Invoice factoring can help your business start off 2020 with a big advantage. At New Century Financial, we specialize in invoice factoring solutions to help businesses improve cash flow and achieve growth. Our comprehensive invoice factoring services are fast and transparent, with no contracts or hidden fees. We also place control in your hands, so you can choose which invoices or parts of invoices get factored. Contact New Century Financial today and make the upcoming year a prosperous one.