As you start preparing for the coming year, it’s important to take a close look at the trends that will impact your business in 2019. In order to satisfy your customers and stay ahead of the competition, you should identify the developments that will make the most difference to your business and are affecting your industry. The following are three broad trends that may have great bearing on your business success in 2019.
Many businesses are seasonal and experience spikes and valleys during different times of the year. For example, if your business depends on summer tourist traffic, sales may be slow during the winter. On the other hand, you may have a business that depends heavily on holiday sales. In such cases, it can be tricky to maintain healthy cash flow during the slower periods.
There are many tactics to help offset cash flow problems. For example, you might introduce new products or services that are popular during your off season. Another very effective way to enjoy steady cash flow is to use invoice factoring, a type of financing that lets you collect payment up front for your invoices. Read more
Many question the difference between purchase order financing and invoice factoring. Here we will explain the difference and when each form of financing is used.
Purchase Order Financing
Purchase order financing is for importers, wholesalers, and distributors of goods who receive a purchase order (PO) from another business, and need financing to pay their supplier or manufacturer for the finished goods. As an example, we’ll use a toy company that is selling to a big box retailer. The toy company receives a PO from the big box retailer. Read more
If you have a business it’s a good idea to keep your personal finances separate from those of your business. This helps you avoid personal liability regarding any debts or lawsuits connected to your business. It also simplifies your taxes and helps you better understand the state of your finances. There are several ways you can keep these two aspects of your life separate. Read more