Is your business being affected by cash flow problems?

For many small businesses across the country, these are scary times. The dramatic pullback in consumer spending is only the latest blow threatening to push some strapped small businesses out of existence. Customers are paying their bills late, cutting off cash flow, the lifeblood of a small business. Even healthy companies are being choked by the lack of credit lines and bank loans. Others are still reeling from several years of high raw-materials prices.

 

In a recent survey from the National Federation of Independent Business, more than a quarter of small business owners said the current economic downturn is threatening their ability to survive. Nearly half of respondents said slow or lost sales are their most immediate problem.

In the months ahead, “we are going to see small businesses that were marginal go out of business,” says William Dunkelberg, NFIB’s chief economist. “We’ve never seen sales trends as weak.”

Small businesses are a driver of the U.S. economy. In the past decade, small businesses — those with fewer than 500 employees — have created 60% to 80% of the nation’s net new jobs each year, according to the Small Business Administration. More than half of Americans are employed by a small business, and these companies are responsible for more than half of the nation’s nonfarm private gross domestic product.

 

Rates are between 2 ½ to 3% on the face value of the purchased invoices with the advance rate paid to the business owner of 75%.  Funding takes about two weeks with other conditions.  For more information simply send me an email:  info@andrew-rogerson.com

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