Bay View Funding Blog

In order to structure a workable operating budget for your company, it is necessary to periodically generate an accounts receivable aging report. What is an accounts receivable aging report?

An accounts receivable aging report, simply put, shows the total balances owed by clients and the duration for which their invoices have been outstanding, broken down into categories, such as 30-60 days, 60 to 90 days, 90-120 days, etc.

Large government contracts can be a boon for your company, as they provide generous amounts of revenue. Unfortunately, government contract payments can be far from reliable. Since government contracts depend on collaboration between multiple governmental agencies, payment can take longer than with other kinds of businesses. Sluggish payment processes can disrupt cash flow and even jeopardize your own timely payments to employees, suppliers, vendors, or subcontractors. This is where the process of invoice factoring comes in. Learn if you can apply it to your government contract and how to use invoice factoring for your municipal clients.

By 2020, almost half of all workers in the United States will be millennials, individuals born between 1980 and 2004. Millennials are distinct from other generations having grown up in the internet age, with information technology that was not available to previous generations shaping their unique interests and motivations. This means that strategies that worked for recruiting previous generations may no longer be as effective for securing the top talent. Staffing businesses that adapt to millennials’ needs are more likely to attract this team-oriented and tech-savvy group of candidates.

Employees expect to be paid on time, no matter what cash flow hardships their company may be facing. Each employee has his or her own financial obligations, and waiting patiently while you figure out where the money is coming from may well be the catalyst for disgruntled employees to either not be motivated to complete tasks, or to search for a new position elsewhere. 

How successful is the connection between you and your current invoice factoring company?  Do you take the time to assess the services they are providing? There are many considerations to running your business, with financing obviously playing a major role, but all too often it is easy to forgo a regular overhaul of systems that are already established. It is possible that you are not getting the most from your current provider.

In business, as well as in life, the potential for bad credit can lurk just around the corner. Small to medium sized businesses strive for good credit scores so that, should it be necessary, obtaining a bank loan in order to grow won’t be a problem. But if a business falls into the bad credit rut is there an answer that not only helps improve credit scores but also meets immediate cash flow requirements? 

In bad credit situations, it is important to get a handle on the reason for the bad credit. Was it a one off situation, or is there a fundamental issue with cash flow? Getting your business score back on track is important for a business to grow. 

Obtaining a loan from the bank when your business is starting out, and not yet profitable is more than likely going to be a challenge. So how do you get the money you need to meet your initial costs?