Start-up businesses, especially in the recruitment, business and professional services sectors often struggle to raise finances as lenders are wary of providing support to firms without a proven track record. This is especially true in the current economic climate. A lot of lenders are also wary of business models that depend on one or two large accounts.
Also, while many new start-ups are experts within their sectors, they may not have the same level of experience in setting up back office functions such as invoicing, order processing and PAYE.
There are various financial solutions available that are designed specifically for helping businesses to get started and manage their cash flow effectively from day one. There are also lenders that are willing to invest in establishing and running the administrative functions to help new businesses grow, even with limited initial investment. By utilising invoice financing, whether factoring or invoice discounting, lenders can provide start-up support for most new businesses.
IFB are specialists in finding a tailor made policy to match your business need. Whether you are a trading SME with a proven track record looking to improve cash flow, or a start up business looking for funding, we can help you.
Please call us on 01582 394809 or click here for a quotation on start up packages.