How to deal with the “out of office” phenomenon and a slow start to the new year…

One of the major downsides that comes with dealing with a lot of small businesses is the waiting game that business owners are forced to play every January. Many entrepreneurs take an extended period off work at this time leaving you with nothing but a “gone fishing” sign and unpaid invoices.

Not only is it frustrating having to wait weeks for invoices to be paid but it can often mean that January is a write-off in terms of business growth. Thankfully, invoice factoring services like the one that Nova Business Finance offers are available to small business owners who can’t afford to wait for their payees to get a tan.

How does it work? At Nova we have a range of finance and factoring options that can help small businesses during this time whether they need quick cash to keep them going or they are looking for a more stable cash flow that will help their business grow.

Invoice factoring
This is for those of you who are waiting on payments from clients who are either still on holidays or are just having a slow start to the new year. We understand that waiting on invoices to be paid can impact on a business in many ways and cause so much unnecessary stress, particularly at this time of year when so many of us are facing the financial hangover from Christmas.

Invoice factoring can help your business meet payroll, take advantage of supplier discounts and provide capital to purchase new equipment. We do this by advancing 80% of the invoice value to you within 24 hours of approval and allowing you to pay this back with fees when you are paid by the client. Nova is able to provide this service on an “as needed” basis for those of you that only require funds advanced for a short amount of time or for a few clients. However, most businesses find it extremely helpful to use our “full ledger” service which means that we advance on all invoices all the time and provides stable cash flow for your business year round.

In addition, invoice factoring can be used to finance a start-up. At Nova we know that the beginning of a new year can signal a period of hope for the ambitious among us and can be a great time to focus on growing a new business. By using invoice factoring you don’t need to put a crazy amount of capital on the line like you do with a bank. In fact, if you have an invoice that we can advance on we can help you!

Assistance in credit collections
Unfortunately, for some businesses the slow holiday period is not the only reason that they are waiting on invoices to be paid. In fact, sometimes as small business owners we are forced to chase those who owe us money. This can get to a point where outside assistance is required because it can be a drain on the resources of business to continue this follow up and it can create unwanted hostility. Go into the new year with no old invoices waiting to be paid by letting Nova help you retrieve what you are rightfully owed.

Contact us now to become a part of the Nova family!

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