Advice for young entrepreneurs entering the world of business
The UK start-up revolution shows no sign of slowing down, and that’s because of budding entrepreneurs. Young entrepreneurs bring fresh new ideas to the table, and are significant in both job creation and economic growth. Their new ventures can generate new wealth and improved products, services or technology which enables new markets to be developed.
As an aspiring entrepreneur, managing a positive cash flow should be at the forefront of your new business. However, 82% of new businesses fail due to poor cash flow. Extended payment terms can be debilitating for a positive cash flow. Inevitably some of your services and goods may not get paid for months on end. It is crucial that young entrepreneurs are aware of a solution to bridge the gap between financial outlay and recouping payment when cash flow is tight.
Alternative finance providers can be that solution. Invoice finance is just one funding route which can support a positive cash flow, providing funding which will increase as your business grows. Offering a more ‘human approach’, a good financial adviser will listen to your goals, understand the amount of risk you are willing to take and be able to find a funding facility that suits for your business.
At Positive, we recognise that supporting young entrepreneurs is essential for keeping our economy thriving. We have been providing cash flow support and business funding facilities to UK start-ups and SMEs for many years. As no two businesses have the same requirements, we find that a personalised approach is the best way to go. We understand that cash flow is the life-blood of many businesses and that delays caused by cash flow problems can often mean the difference between success and failure.
If you’re an aspiring entrepreneur considering launching a business contact one of our invoice finance specialists for more information.