subject: Factoring Helps Small Businesses this Holiday [print this page] Factoring Helps Small Businesses this Holiday
Whether we work in a company with three or 3,000 employees, most of us can relate to getting stressed out over the office gift exchange when the holidays arrive every year.If you are a small business owner, you probably stress out every year about how you are going to have the money to give holiday parties, employee bonuses and gifts. Here are just a few tips on the topic, including the use of invoice factoring, to assist you through this process.You have heard about secret Santa parties, where employees are allowed to buy only one gift for another employee? Employers usually set a price limit affordable to the lowest-paid employee and then tell everyone the rules.However, there are sometimes challenges with this practice when it comes to company work groups? If you have work groups, such as sales, marketing or shipping, often these employees like to exchange gifts among their own group along with the office party exchange. Just make sure you ask them to do this privately so the other company employees don't feel excluded.No matter who gives friends at work a gift, if at all possible, make sure they carry individual gifts home and open them in private.What about the boss? Never give a private gift to the boss. This moght be seen as inappropriate and trying to gain favor. Don't give a gift that might be perceived as an intimate item, but offer gifts that can't be misinterpreted; at the office. Gifts of food that everyone including your boss can share are much more tasteful, and tasty too.Today it is often hard to know what to give. The following categories are welcome anytime, anywhere.- Take up a collection to give to a local charity.
- The gift of thoughtfulness; promise something unique to someone at work: a ride once a week, for example. Lunch once a month for some company. A day at the gym together.
- Be creative and give books, subscriptions, cooking items, restaurant or online gift certificates priced
in the $5 to $20 range should kebe appropriate.Due to the recovering economy, what if your your company is having some issues with a budget for the holiday party, end-of-year bonuses or gifts for employees during the holidays? You might want to use invoice factoring this year. Invoice factoring is a great way to pull the funds together quickly, so you can celebrate the holidays.Factoring is a "use it as you need it" funding option, each invoice purchase is a separate transaction and does not form part of a portfolio lending approach. Factoring is a transaction modeled as a buy-sell transaction.The factoring company first undertakes a due diligence that typically takes one to two business days. Once completed - you the client - are at liberty to offer invoices to the factoring company for purchase.Upon the receipt of invoices, the factor checks the credit of the debtor named on the invoice and makes sure that the sale represented has been satisfactorily completed. After this is done the debtor is advised of the purchase by the factoring company and you'll receive your cash. Now you can have a nice holiday! At the end of the credit period the debtor pays the factor directly - completing the transaction. Happy holidays!
