3 New Year's resolutions to improve your clients' cash flow
Brokers can help clients unlock their cash flow in 2016, and here are three New Year's resolutions to allow them to do just that.
While people are making their personal resolutions for 2016, businesses may want to do the same to improve their business health and financial prosperity. In fact, many of the resolutions made by individuals can be the same for business owners.
Here are three examples, including ways you can help your clients to a prosperous new year.
1) Stay Fit & Healthy
A whopping 37% of respondents had committed to staying fit and healthy in the New Year. Here are two ways a business can achieve the same thing:
Pay off ATO debt and reduce stress
Carrying ATO debt was once perfectly normal but is now fraught with risk, as the ATO is becoming rapidly less tolerant. Raise capital with Classic Funding Group against Debtors or existing equipment to stay fit and healthy.
Refinance to avoid restrictions
Refinance to avoid restrictive covenants, excessive security requirements and processing delays. An efficient funding structure is a healthy one and Classic Funding Group can assist with refinancing with both working capital and term debt.
2) Spend less, save more
Make your clients’ cash flow work for them. Putting cash flow to good use is the key to financial survival and according to Nielsen, 19 per cent of people will attempt to improve theirs in 2016. In the world of business, that should be almost 100 per cent.
If your clients spread payments on large asset purchases through a rental or secured loan agreement they will preserve cash flow.
In a Rental agreement, the need for large up front deposits is avoided as well as giving tax benefits and an easier upgrade path.
3) Be more organised
Wouldn't we all like to be more organised? According to Nielsen, at least 18 per cent of us have put this as our New Year's resolution.
For businesses, it's even more critical to do so. Sometimes getting organised involves having a good look at which tasks are time consuming and onerous, and how they can be removed from the business. If monthly reconciliations for a Debtor Finance facility is one such task, perhaps 2016 is the year for change. Switching to a low maintenance Confidential Debtor Finance facility with Classic Funding Group can be just what your client needs to free up internal resources.
And, if you are like 14% of the respondents, travel is something you have on your new year’s resolution list for 2016. With the Classic Star Rewards program, this is a new year’s resolution you can keep!
Here's to a prosperous 2016 - for you and your clients.