We noe should also be looking at short term finance, 6 months to two years with some lenders to obtain a little breathing space and allow the business to recover. Invoice discounting and asset finance are fast becoming tools that we may consider to ease cash flow, or to replace ageing machinery.We now have choices that we may not have looked at in our previous life when money was there on demand, and we did not have to dig too deep in our box of financial tools as the banks were falling over themselves to lend. Times are now a little different and we have to work that much harder to get that extra bit for our clients at the right price.
It does mean that we will have to think outside the box and consider products that we would have dismissed out of hand, but business needs cash flow to survive, and we now have to use all the tools in our financial box to help our clients to grow in this very difficult market.
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