5 biggest invoice factoring myths dispelled

Embed Size (px)

Text of 5 biggest invoice factoring myths dispelled

PowerPoint Presentation

Invoice factoring myths dispelled

5

Asset based finance now supports 15% of all UK company turnoverAccording to ABFA

Asset based finance now supports 15% of all UK company turnover

But age-old misconceptions around invoice factoring still exist, scaring businesses away from utilising the facilityAccording to ABFA

So, here we dispel 5 of those myths and show how factoring could be a viable funding option for your business

Its a sign of trouble1

MYTH

Historically, factoring was commonly associated with struggling firms or those in financial distress

BUT THE STIGMA

Historically, factoring was commonly associated with struggling firms or those in financial distressHAS GONE

*According to ABFANOW more than17,000 businesses* use invoice factoring to:

*According to ABFANOW more than17,000 businesses* use invoice factoring to:

BOOSTWORKINGCAPITAL

*According to ABFANOW more than17,000 businesses* use invoice factoring to:

GROW THEIR COMPANYBOOSTWORKINGCAPITAL

*According to ABFANOW more than17,000 businesses* use invoice factoring to:

GROW THEIR COMPANYREPLACE BUSINESS OVERDRAFTSBOOSTWORKINGCAPITAL

*According to ABFANOW more than17,000 businesses* use invoice factoring to:

GROW THEIR COMPANYREPLACE BUSINESS OVERDRAFTSNEGOTIATE SUPPLIER DISCOUNTSBOOSTWORKINGCAPITAL

Customers dont like it2

MYTH

In reality, most companies have no issue with suppliers using factoring

In reality, most companies have no issue with suppliers using factoring

Those that do often have theworst payment practices

PLUS factoring can be provided confidentially so your customers dont need to know

In reality, most companies have no issue with suppliers using factoring

It locks you in3

MYTH

Flexible options are available so you can use the facility as needed

Spot factoring gives your business the power to:

Spot factoring gives your business the power to:FINANCE INDIVIDUAL INVOICES

Spot factoring gives your business the power to:KEEP CONTROL OF YOUR DEBTOR BOOKFINANCE INDIVIDUAL INVOICES

Spot factoring gives your business the power to:KEEP CONTROL OF YOUR DEBTOR BOOKAVOID LENGTHY CONTRACTSFINANCE INDIVIDUAL INVOICES

Its expensive4

MYTH

Value is often more important than cost

Whilst factoring will most likely cost more than a loan or an overdraft it can have better benefits.

With invoice factoring you can get more than just funding

CREDIT CONTROL EXPERTISE

With invoice factoring you can get more than just funding

FLEXIBILITYCREDIT CONTROL EXPERTISE

With invoice factoring you can get more than just funding

FLEXIBILITYBAD DEBT PROTECTIONCREDIT CONTROL EXPERTISE

With invoice factoring you can get more than just funding

Its confusing5

MYTH

Invoice factoring can seem complex

Invoice factoring can seem complex

BUT IT DOESNT HAVE TO BE

As a specialist invoice factoring broker Hilton-Baird Financial Solutions could help you find the best facility for your needs

We will:

GET TO KNOW YOUR BUSINESS, GOALS AND NEEDS

We will:

FIND A FACILITY TAILORED TO YOUR SPECIFIC REQUIREMENTSGET TO KNOW YOUR BUSINESS, GOALS AND NEEDS

We will:

FIND A FACILITY TAILORED TO YOUR SPECIFIC REQUIREMENTSCONTINUE TO SUPPORT YOUR BUSINESS AS IT EVOLVESGET TO KNOW YOUR BUSINESS, GOALS AND NEEDS

We will:

Click here to request a call back FIND A FACILITY TAILORED TO YOUR SPECIFIC REQUIREMENTSCONTINUE TO SUPPORT YOUR BUSINESS AS IT EVOLVESGET TO KNOW YOUR BUSINESS, GOALS AND NEEDS

www.hiltonbairdfinancial.co.uk

For more business news, tips and guides please visit