Tag: debt factoring

Credit checking your customers and setting credit limits

May 26, 2024

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Team Kraken

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Finance & Grants, Manage Your Cashflow, Uncategorised

Offering credit as a payment option can open your business up to new potential customers and increase your profits in the long term. However, there are a number of factors you should consider before offering credit to customers. If customers default on their credit payments, it could leave your business short of finances and cause…
Bank finance

May 6, 2024

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Team Kraken

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Borrowing, Finance & Grants, Finance Options, Uncategorised

Whether you are starting or expanding a business, you may need to seek financial help from an external source. Banks offer short- and long-term debt finance via loans and overdrafts as well as other types of finance. These are available by application to any high street bank, usually involving a quick decision process. This guide…
Non-bank finance

May 6, 2024

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Team Kraken

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Borrowing, Finance & Grants, Finance Options, Uncategorised

If you are starting, expanding or restructuring a business, you may need to secure finance. People in business commonly approach banks for financing, but they are not the only option. Other lenders may be more competitive or more suitable for your business, such as: We collectively refer to these as non-bank finance. If your business has…
Managing a business when economic conditions are tough

Jan 20, 2024

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Team Kraken

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Finance & Grants

Managing a business is even more demanding when market conditions are tough or uncertain. Planning can be difficult when your business, its customers and suppliers are faced with rising prices, falling sales, shrinking margins and cashflow problems. Redundancies and business failures further diminish market confidence while reduced orders and late payment can indicate problems within…
Factoring and invoice discounting: the basics

Jan 20, 2024

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Team Kraken

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Finance & Grants, Manage Your Cashflow

Factoring – also known as ‘debt factoring’ – involves selling your invoices to a third party. In return they will process the invoices and allow you to draw funds against the money owed to your business. Essentially, these companies provide a finance, debt collection and ledger management service. It is commonly used by businesses to improve cashflow but can also…
Ensuring customers pay you on time

Jan 20, 2024

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Team Kraken

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Finance & Grants, Improve Your Cashflow & Business Performance

There are various ways of encouraging your customers to pay on time. However, despite your best efforts, you may find that some still end up paying late. If this happens, you should contact the customer in question to try and resolve the issue and review your procedures to reduce the possibility of others paying late…

Tag: debt factoring

Credit checking your customers and setting credit limits

Bank finance

Non-bank finance

Managing a business when economic conditions are tough

Factoring and invoice discounting: the basics

Ensuring customers pay you on time