06 19 2014

06 19 2014

4 Ways To Increase Your Cash Flow

If there’s one challenge most business owners face, it’s cash flow. Even as profits increase and business expands, the costs of doing business in an increasingly competitive environment are significant, leading many to financial troubles and negative impacts on daily operations. Improving cash flow may not be easy, but it is possible with the right tools in hand. Here are four tips for increasing your business cash flow:

1. Plan for the future

Every business owner should plan for both the short and long term, focusing on the most feasible routes to success. As an entrepreneur, it’s unlikely you started your business without clear goals in mind – keep that perspective and never stop planning for the future. Consider tweaking products, launching new ones, improving consumer service operations to retain clients and, perhaps most importantly, finding ways to improve cash flow.

Map out 12 month cash flow projections, including potential product performance, client retention rates, overhead expenses, loans and other costs you may incur. Once you have your projected plans in place, set monthly, biannual and annual goals for yourself and your staff. You may want to hone in on product development, design, expansion or improved budgeting. No matter the goal, the first step to improving cash flow is understanding your business and planning for the months and years to come.

2. Research the competition

There’s no such thing as a business without competition. Even if you’re ahead of the market and have released a product no one has seen before, you can bet that there are other entrepreneurs looking to capitalize on new opportunities.

More realistically, you have competition that is already in place, ready to take your clients. Stay ahead of the competition by doing some research on your own. Check out the competition’s pricing and rates for products you also offer and adjust accordingly. You may also want to consider staying ahead of the curve by developing new products and services. As always, the goal is to stand out from the crowd.

3. Get organized

Organization is key for any entrepreneur. A desk full of receipts, invoices and notes reminding you to follow up with a supplier is simply not conducive to business. Instead, get tech savvy and track these items online or through programs that help you organize your business.

Regarding suppliers, for example, divide them into those you regularly use and those you do business with only around the holidays. This will give you the freedom and transparency to conduct business more efficiently. And as any company leader knows, transparency and efficiency are essential to improving business and improving cash flow.

4. Consider a small business loan

While proper planning, research and organization all contribute to smoother operations, in order to make money you have to spend money. Or, in this case, gain access to business capital as easily and as soon as possible.

Small business loans can help a company not only stay afloat in tough times, but also thrive in new and exciting ways. If you’re in need of financing, consider approaching National Funding today to explore your small business loan options.

Find Out How Much Funding You Qualify For

Fields marked with an * are required
By clicking this button I agree to all terms and conditions.

Terms & Conditions

General Acceptance

Any applications submitted electronically shall have the same force and effect as if the application bore an inked original signature(s). The above information, together with any accompanying financial statements, schedules, or other materials, is submitted for the purpose of obtaining credit and is warranted to be true, correct, and complete.

 

US Patriot Act:

To help the United States Government fight terrorism and money laundering, Federal law requires us to obtain, verify, and record information that identifies each person that opens an account. What this means for you: when you open an account, we will ask for your name, a street address, date of birth, and an identification number, such as a Social Security number, that Federal law requires us to obtain. We may also ask to see your driver's license or other identifying documents that will allow us to identify you.

 

For Loan/Merchant Services:

The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.

 

For Equipment Services:

I hereby certify: (1) the information provided is true and correct, (2) you are hereby authorized to investigate all bank, credit, and trade references, and said references are hereby authorized to release any requested information to you or your nominee, (3) such authorization shall extend to obtaining personal credit profile in considering this application and subsequently for the purposes of update, renewal or extension of such credit or additional credit and for reviewing or collecting the resulting account, (4) this information may be transmitted by us to you and by you to underwriter(s) for the purpose of granting me credit, either electronically or manually, and that by submitting this application, I take full responsibility for transmission thereof, (5) I am over 18 years of age, (6) I acknowledge my rights under the Fair Credit Reporting Act, (7) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (8) this request is for business and not for consumer purposes.

The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status or age (provided the applicant has the capacity to enter into the binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. If for any reason your application for business credit is denied, you have the right to a written statement of the specific reasons for the denial. To obtain the statement, please write to National Funding Inc., 9820 Towne Centre Drive, San Diego, California 92121.  Funding amount and credit approval is subject to a full credit profile review.