Does your staffing business have a cash flow management plan in place?
According to John Reed, senior vice president for Robert Half International in Dallas, companies control costs (salaries, benefits, training and retention) when nervous about the economy by hiring more temp workers.
What if your temporary staffing agency gets unexpected opportunities and you need to capitalize on them – quickly? Will your cash flow management strategy allow you to pay your increased staff as you take on new clients?
If the answer is “no” – or if you’re uncertain – then consider invoice factoring as your business funding solution.
Invoice factoring will free up your cash flow so that you can meet payroll and payroll taxes, even when adding new clients.
It’s an unfortunate fact that you need to pay your staff every two weeks, while your clients won’t pay your invoices for 30 days, or maybe even 45 days. So, you need the type of business funding that will allow you to pay your expenses and effectively manage your cash flow in the meantime. That business funding is accounts receivable factoring.
Discover how MP Star Financial was able to help a nurse staffing company that needed to meet daily payroll through accounts receivable factoring.
Choose MP Star Financial as your accounts receivable factoring company. MP Star Financial is the factoring company that understands your challenges.
What’s even better is that we have the time-proven strategies that will boost your cash flow management so that you can take advantage of terrific new business opportunities, even in less than ideal economic times.
Apply for business funding from your invoice factoring company online today or call us at 1-800-833-3765, x. 150.