The most important thing I’ve learnt from supporting thousands of businesses

Businesses globally get paid for the goods and services they provide and pay for the goods and services they consume. Payment for goods doesn’t always happen on the same day, with most trading often being subject to payment terms. These terms can often extend beyond 30, 60 or even 90-days which can become a challenge for businesses to manage.

It may seem fairly straight forward and obvious, but managing cash is not always as easy as cash in vs cash out. Business owners will be asking themselves all sorts of questions around the cash flow of their company:

• When am I going to get paid?
• Will I have enough to pay my staff wages?
• Will I have the cash to pay my suppliers on time?
• When do I need to pay HMRC?
• Do I have enough cash to take advantage of that amazing new opportunity?

Throughout my career I have worked with and supported thousands of businesses. I’ve been fortunate to play a role in the success of many businesses while others around have failed. The primary learning that I have taken from this is that in order for a business to succeed, they need access to liquidity. Businesses don’t fail because they become loss making, they fail because they run out of cash.

What many business owners and directors aren’t aware of is that they don’t have to wait to get this cash. They can accelerate the payment of their invoices, through invoice finance.

Invoice finance is simple and allows you to get on with running your business as opposed to worrying about when the next payment will be received. When you raise your invoice with your customer, you can share the details with your invoice finance provider and access cash straight away. Watch our short explainer video to learn how it works.

As we emerge from the current crisis, with government backed facilities being repaid and businesses getting back to the new norm, demands on cash will be greater than ever before. Invoice Finance is the solution that can put cash in your hands when you need it most. It can help thousands of businesses to access working capital far sooner than they expect.

I am proud to be part of the Senior Leadership Team of a fantastic specialist invoice financier that supports many SMEs with access to cash.

Whilst we aim to make delivery of funds as simple as possible using technology, automated payments and online platforms, we also recognise the importance of having a real person to understand your business needs and support the great work you do. That’s why we focus on excellent service, flexibility and understanding through our brilliant team. Our clients find this service invaluable and frequently recommend us to their friends and colleagues.

“We have been working with Optimum for the past 3 years and have found them to be truly flexible and a real partner to our business in some really critical times. In a very progressive world, it makes a ton of difference to have humans on the other side of the phone who understand your business challenges and work to make you successful. It’s been a good experience with Optimum and we hope to continue working with them in our growth journey.” Optimum Finance client.

We know that there can be difficult times for all companies. We’re passionate about easing the cash flow burden and allowing business owners to get on with the aspects of their business that they love.

Lynn-Marie Jameson is the Chief Commercial Officer of Optimum Finance. Find out more about Lynn-Marie.

At Optimum Finance, we utilise innovative technology to offer a range of flexible funding solutions, which grow alongside your business. Get an instant quote for the amount of funding you could access by entering your annual turnover into our web app. Products include invoice discounting and factoring that can boost your cashflow and give you access to a dedicated credit control team.

Email or call us to speak to our experienced team of experts and find out how invoice finance could help your business. We pride ourselves on getting things done quickly and providing access to cash within 24 hours of approval. We are passionate about finding solutions and delivering to clients’ needs.