Monday 26th November, 2012

More and more UK businesses are turning to invoice factoring as a tool to improve their cash-flow. However, cheap deals aren't always the best deals, it's important that before anything is signed you have read and understood the small print. Something that is often overlooked and before they know it  - many businesses are tied into a contract that was not as it had seemed. One of the ways around that is to use a broker who is fully experienced in the business and able to explain it to their client as well as answering honestly any queries or uncertainties they may have.

Nick Cookson, Business Development Manager, Target Business Assist explained “As a factoring broker we are always made aware of our lenders latest deals. We gain an understanding of our client’s business, identify their needs and help them to make an informed choice from a selection of competitive rates”.

As an indication of the precarious nature of the economy, invoice factoring is a fairly key barometer. Howerver, it's probably true that it's been instrumental in reducing the number of insolvencies over the last year as more and more organisations look to increasingly innovative ways to do business and supply oil to their supply chain.

However, there is another way, and those who are already some way down the financial automation route, dynamic discounting offers an attractive alternative.