Busting Five Common Myths About Invoice Finance
As spiraling inflation, tax rises and the war in Ukraine slow the post-pandemic economic recovery, the UK’s recruitment consultancies will need to explore different financial options to survive and thrive. Many business owners turn to invoice finance — a service where a lender purchases unpaid invoices from businesses who need an advance on their payments — because billions of pounds are tied up in unpaid or late invoices every year. Last year, research published by IGF reported 27% of businesses have used this service to plug their cashflow gap. Invoice finance is becoming crucial for the recruitment sector because without a steady stream of cash, agencies can’t operate at their full potential. Unfortunately, misconceptions have put some off this useful source of funding. It’s time to dispel five common myths about invoice finance.
For more, read this article by our Co-Founder and CEO, Richard Prime.