About Our Firm – A Leading Business Financial Problem Solutions Provider

As a leading Business Financial problem Solutions Provider, we examine the financial opportunities and challenges of our clients. We seek to know how our clients can efficiently navigate their financial challenges and benefit from the new opportunities that emerge in the changing business environment. Our services include estate planning & trusts, business accounting and bookkeeping, tax services, and financial problem-solving strategies among others. We understand that businesses encounter many financial problems, and we are ready to help.

Below are some of the financial problems and the solutions that we offer.

1. Slow-paying invoices

As a business, it is important to offer 30-day – 60-day payment terms to all customers. But, a small business cannot afford to wait for that long for their payment. Such businesses require money sooner. Ultimately, slow payments will create financial problems that can affect such companies seriously.

Solution

As far as we are concerned, this problem can be solved in two ways:

• Providing customers with incentives that will make them pay faster. For example, giving them two percent (2%) discount in exchange for payments that are made in ten days earlier can actually motivate them to pay faster.
• Invoice factoring can also be used to finance all the slow-paying invoices. This is one of the methods that will immediately improve cash flow and enable businesses to offer confidently payment terms.

2. High overhead expenses

Sometimes, overhead expenses such as telephone, rent, and utilities among others can be higher compared to the income the business receives. High costs of running a business can hurt the cash flow of that particular business. They are particularly very challenging since they are persistent.

Solution

We believe that auditing the overhead expenses and cutting back where possible is the best solution for such as problem. This should regularly be done to make sure that the overhead expenses are in line. The owner of the business should be careful not to cut these costs so much. This is because that will also hurt the business. In case it is not possible to cut the overhead expenses of the business, then it is important to consider other cheaper options.

3. Excess inventory

This is one of the problems that affect businesses that manufacture goods, or the re-sellers that keep warehouses stocked with goods. In case too many goods are purchased or made which might end up sitting on shelves and tying up the flow of the business cash. This results in financial problems.

Solution

We believe that such business should fine-tune their inventory so that they stock goods for a short time before being used in the manufacturing process or sold. As a business, it is crucial to know that you need to stock goods depending on volume, available cash, sales forecasts, and the capabilities of the supplier.

Furthermore, businesses that re-sell goods can also use purchase order financing when financing huge sales that surpass the capabilities of their cash flow.

Other Business Financial problem solutions that we offer

4. Too much bad debt

We know that bad debts happen when a business sell their products or provide services to clients who don’t pay.

Solution

Review the creditworthiness of your customers before you extend payment terms.

5. Insufficient gross margins

We understand that small companies at times sell their services and goods for lower prices that they experience negative or low gross margins. This is common in high competitive environments with pricing pressure that is constant.

Solution

As far as we are concerned, the business should audit their services and goods to decide the all-inclusive cost of delivering their services and products.

The above are some of the financial problems that business can encounter and the solutions that we offer.