It’s 2019 already. Chances are you’re sitting on this plane because you’re going on holiday (lucky bugger) or coming home from one (we sympathise). Either way, it’s time to start those new year’s resolutions. But wait – hello barbecue season, with your five hundred excuses standing in the way of the gym entrance.
Factoring and invoice discounting are both financial services that can be really helpful when you're having cash flow issues with your small to medium-sized business. Both services can help to free up funds tied up in unpaid invoices and they also can involve a provider like buffer who agrees to lend money against outstanding invoices. Essentially, the difference between factoring and invoice discounting lies in who takes control of the sales ledger and who has responsibility for collecting payments. It will come down to the overall goals of your business as to which option you decide to go with. Therefore, it’s important to know the difference between the two.
“Buffer is all about helping small to medium businesses continue growing, by maintaining cashflow until invoices are paid. Unlike invoice factoring, we don’t take over all your invoicing or lock you into a minimum period with a monthly fee. We simply allow you access to cash when you need it, for a one-off fee each time” - Nick O’Connor, Managing Director
We’re excited to announce the release of our 'buffer in minute' campaign video.
Five of the most common cash-flow problems.