“Factoring is for struggling businesses”
Incorrect! Factoring is now one the main sources funding for growing businesses
“Factoring is expensive”
- The cost of factoring is often less than operating a normal bank overdraft.
- It is more flexible, grows with the business,
- It can include credit control services and credit protection to safeguard businesses against debts.
“Everyone knows when you are factoring invoices”
Incorrect again! Factoring invoices can be operated in the background and remain confidential.
“Factoring will always require commitment long term contract”
For the final time, Incorrect! Notice can be given at any stage with no strings attached. Companies are able to offer a no-notice, six month trial period at the start of agreements. Following this, a three month notice period is applicable, proving that flexibility and transparency are the keys to products
Seymour Hicks are delighted to offer clients a free audit of all existing factoring contracts. Please contact a member of our team for further information on 01252 722 397.