There's much more to changing seasons than just beautiful foliage and jacket weather. The summer slumps and winter blues are a potent threat to businesses small and large. Every year small businesses are faced with an uncertainty that their cash flow will dry up and fail to support them through the upcoming season. Even businesses that see huge success year round are likely to see a downtime at one point or another, whether it be a lull in customer enthusiasm or due to current events. Businesses change with their clientele, after all - not just the weather.
Depending on how bad your slow season is, it can either be a small nuisance or a devastating blow. A slow season can very well be the end of your business. There are a number of reasons for this, including:
With any type of business, debt can accumulate quickly and without relief. Even a small amount of debt can end up putting you behind on important purchases and obligations. The buildup of debt can follow your small business all the way out of the slow season, leaving you struggling to catch up. Many businesses find this time to be tedious and stressful - one wrong move or costly expense and the business can very well falter.
While debt is one problem, an inability to buy the necessary supplies for your business is a monster all its own. Many industries rely on the frequent purchasing of materials, wares, and other supplies to keep up with orders. Some supplies are needed to run a business that only offers services, not physical wares, as well. If there's nothing to sell or no services to offer, there's really no business. A slow season can leave these businesses high and dry without any suitable way to make it through to good times.
No one works for free, not even during hard times. Without a proper backup plan, a slow season can leave your hard workers without food in their fridges. The relationship between an employer and employee goes a lot smoother without the worry of whether or not the paychecks will be late during slow seasons.
A traditional loan is not always possible, nor is it handy when money is needed right away. Invoice factoring provides a quick, easy relief from the burden and stress of short seasons. The speedy process gives businesses the money they need when they need it, taking mere days instead of weeks and months. Selling your accounts receivables is a stress-free process that provides a great cushion - or escape from - slow seasons.
- It's quick
- There is less scrutiny on your business to qualify
- There is no debt accrued
- There is no obligation to continue after the slow season
Utilizing invoice factoring for your small business during slow seasons, or any time you need to get over a lull, is a practical and sound choice. Keep invoice factoring in mind and your business will thrive in any weather or situation.
Catamount has always been there for us and has been very instrumental in helping us succeed.
Without Catamount we would not be where we are today...period. They have been a tremendous help and are very supportive!
When we needed help Catamount stood up to the plate for us. Their service is outstanding...great people to work with!