Problems on the horizon
Problems on the horizon
Most businesses, regardless of how successful they eventually may become, will face looming problems at some point in their lifecycle. In some cases, competitors close in on the market much more effectively. In other cases, businesses don’t keep up with changing trends.
Detecting problems early on may be the difference between a turn-around and insolvency. You would also be in a far better position at securing your business financial needs as soon as you realise that there may be trouble ahead.
See the below key tips, self-assessment tools and possible routes of finance if you find yourself facing problems on the horizon.
Key Tips
Below are what are commonly referred to as ‘red flags’ when assessing whether your business is close to insolvency:
- Have reliable and realistic processes in place to know how your business is comparing to the market in general. If you find out too late that your business is heading towards a downturn, it may then be very expensive to take corrective measures.
- Try and pinpoint what has changed since the last time your sales and profit were good.
- Are you in tune with what your customers/clients want? When was the last time you checked?
- Can you change your product or service in a way that makes it more relevant?
- If you are having problems with extending or renewing your bank facilities, have you considered alternative sources of finance?
Self Assessment We will soon be adding our self-assessment tool that may help you look out for warning signs. Watch this space.
Search for Finance Finance that specifically relates to accelerating cash receipts from your customers, in order to settle payments to suppliers, is only one form of finance that might work for your company. Take a look at what else might be on offer by going through our
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Specialist Finance
Informed Funding largely covers types of finance and suppliers of finance that you may not have heard of. We do not cover high street banks which, by and large, are easy to find and have broadly similar offers – particularly when it comes to risk assessment. Therefore, have a look at the various categories of finance we offer here.
