Kick start 2024 with a boost in cashflow

The time between Christmas and New Year can be very important for a business owner, they are relaxed due to the holidays, have had a good break and are fully invigorated to hit the ground running and ensure the start to 2024 is a profitable one.

This will typically be the time when growth plans are considered and new initiatives formed.

Typical initiatives can include:

• Targeting new customers
• Undertaking market research for diversification
• Improving customer retention
• Enhancing business processes
• Introducing new products and services

When setting new initiatives there are 3 key areas that should be considered, they can be known as the 3 I’s:

• Innovation – a business should always try to be innovative with new product or service development or with the improvement of existing products or services.
• Integrity – trust is incredibly important for a business, you need to ensure staff, suppliers and customers are respected and trust 100% in the business. Displaying integrity in everything should play a major factor in any initiative.
• Imagination – businesses want to set them apart from their competitors and therefore being imaginative in product and service delivery will yield positive outcomes.

The one area of concern a business owner will face is with cashflow. Deploying new initiatives should not cause a drain on cashflow as ultimately this could affect the performance of the business. This is where business finance is so beneficial. The choices available are vast with some of the most common ones being:

• Asset finance
• Secured and unsecured loans
• Mortgages
• Invoice finance
• Property development finance
• Acquisition finance

The NGI team are experts in the field of business finance. We will never pigeonhole our clients down a specific route but instead we will listen to their needs and match them to a suitable funding stream.

Did you know that at this time of the year often pressures can be felt due to the payment of tax bills. This can have a serious drain on cashflow. Many do not realise that business finance can be used to pay tax bills. A Director can even raise money through their business to pay a personal tax bill.

We are fortunate to work with clients across all industry sectors. For any business owners looking to kick start 2024 with a boost in cashflow our team are on hand to help. Please call us on 01993 706403 or e-mail enquiries@ngifinance.co.uk.