Employment demographics have changed considerably since the late noughties.
More and more of us have become self employed and set up our own businesses. This has been great news for the economies of the Channel Islands because people who run their own businesses tend to be more productive, take less sickness days and receiving a higher proportion of take-home-pay for the work they do. It used to be said that the three pillars of the Jersey and Guernsey economies were agriculture, tourism and finance but construction, telecommunications and retail have thrived here over the last few decades too.
Unfortunately, there are some major downsides to running or owning a business and undoubtedly, one of the biggest drawbacks is the stress associated with cash flow problems.
Business outgoings and remuneration are rarely balanced throughout the year. And if your business has insufficient access to capital it can be vulnerable to crisis and even failure. So at Contributor Capital we strongly advise businesses to secure a pool of available money, which allows them to ride out the inevitable financial ebb and flow. Thus allowing their business operations to run smoothly and with minimal stress.
How can your business access that pool of availability?
At Contributor Capital we offer business finance solutions for just such situations and one of our most popular products is our Business Overdraft facility.
A Business Overdraft provides your company with short term funding flexibility so that you have the breathing space required to bridge the gaps between business incomings and outgoings. Perhaps you have the occasional client who is late paying their invoice? Or maybe a sudden increase in orders means you require additional staff to meet the demand (in anticipation of greater revenue)? These are exactly the kinds of scenarios where a Business Overdraft can help.
Contributor Capital can offer the financial support your business needs to thrive, contact us today to find out how we can help.