The element of speed is vital for your business in 2024

Posted: 31st January 2024

‘Blink and it will be gone’ is the response we’re hearing at the moment as people answer the question ‘What do you think will be different in 2024’.

As 2024 gets underway and we attempt to shake those dreaded holiday blues, there is no escaping the main news headlines; from the uncertainty that Brexit is casting, to Donald Trump’s Presidential victory, one thing is for certain - a lot of change is looming.
But, what does this mean for you and your business?

Well, the forecasters believe that the element of speed will become vital as we progress through the upcoming year. We are set to see an influx of technological advances which will change the course for business in most sectors. Competition within industries will grow rapidly, more new start businesses will look to flourish, and the internet will play an increasingly important role in business.

If the forecasts are right, these changes could result in growth for many businesses which will have an effect on cash flow. So does your business have access to the right finance to help support this growth?

Response times
The average response period that a customer expects to wait after enquiring with your business, either through an online form or a phone call, is constantly decreasing. With competition growing and the ease of accessing competitor’s information becoming so easy, you need to be ready to respond instantly to new customer opportunities with everything they need to make a decision, so they choose you over your competitors.

Handling customer enquiries quickly and effectively is one thing, but can your business support the forecast growth this year and what effect will it have on your finances?

Your cash flow is essential during growth periods and choosing the right invoice finance solution will enable you to adapt to the peak trading periods in your financial year without the pressures of trying to source last minute finance.

Cash flow
Opting to fund your business with an invoice finance company may be the best decision that you make this year. Businesses will need to be able to embrace fast changes and the increased workloads. An essential element in growth this year is to ensure you have the ability to maintain a steady cash flow. There are a wide range of invoice finance facilities which will help you to achieve this and are designed to be flexible and tailored to your individual needs.

Credit control
As your company grows and your time is spread further afield, it might be worth considering outsourcing your credit control function to a dedicated and experienced team. If you decide upon an invoice finance facility with Macla, you will maintain the same Client Manager and Credit Controller throughout your time with us.
Your Manager will take the time to understand you, your business and your customers. This not only gives you peace of mind but frees you up to focus on growing your business in key areas.

So if the predictions for growth are right and whatever your plans are for the year ahead, it is important to look for additional support to achieve growth projections.

If cash flow forecasts indicate that you could encounter a cash flow gap, invoice finance may help. We offer a wide range of options and finance is agreed quickly. If you are would like to know more about the flexible options available, please do get in touch and speak to our friendly experts today on 020 3555 4545 or contact us here.