The festive season presents an opportunity to catch up with clients, reflect on past achievements and make goals for the year ahead. However, financial stresses can also be at their strongest with higher expenses and in the case of businesses, cashflow challenges.
In professional services, for example, invoices not paid by mid December are often not paid until late January and early February, by which time WIP is lower than usual due to staff taking their annual holiday leave.
We’ve recently helped multiple clients secure additional working capital and take the pressure off their cash flow. We secured finance for our clients either without recourse, or significantly limiting the personal recourse for the directors and company owners. The key to finding success is to workshop the problems together and look for multiple financial solutions to the core issues the business is facing.
