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Over the past few years, banks have considerably reduced the number of loans they issue to small businesses. According to The Wall Street Journal, this is due to the weak demand, high costs, and tighter lending standards that followed the 2008 economic crisis.

For many years, businesses have been utilizing invoice factoring companies to secure an immediate solution to their cash flow needs. Through this financing tool, businesses can quickly sell their unpaid invoices and receive an advance of capital.

While a great vision and business plan are crucial, obtaining sufficient funding is one of the most important elements a startup needs to succeed.

Every oil and gas company across the nation – the globe – will remember 2020 as the year that changed everything. Industry leaders began the year in a state of urgency, faced challenges that have been building for years, and finished it with more questions than there were at the start.

To say the global oil and gas industry is large would be a gross understatement – it is massive. The oil and gas drilling sector alone makes up around 3.8% of the global economy.

Invoice factoring is a financing tool that allows your business to use its outstanding invoices to generate cash quickly and avoid waiting up to 90-plus days for customer payments. Essentially, your business is selling its accounts receivable to a factoring company at a discount.

For many people, moving into a new year involves taking stock of where they have been, where they are going and, most importantly, what makes up the in-between. If you are one of the many interested in maximizing yourself and your business, the first place to start is your mindset.

If you are a small business owner overwhelmed with a growing stack of outstanding accounts receivable, you are not alone. According to a report by New Sage, 13% of small and medium-sized business’ invoices are paid late.

The relationship between manufacturing companies and their customers is being revolutionized by various marketing and customer experience trends. Gone are the days when word-of-mouth marketing practices and a firm handshake were enough to win new customers and seal the deal.

In a capital-intensive industry like manufacturing, planning is everything.