Daily Archives: September 10, 2010

http://dev.getfar.com/our-work/Confidence Levels Among Small business Owners at Lowest Point

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According to a new monthly survey by Discover Financial Services, 62 percent believe the economy is getting worse. Discover’s August survey of 750 small business owners nationwide revealed that , and 55 percent economic conditions for their business to be unfavorable in the next six months. The largest month-on-month decline since November 2009, the company said that these factors caused its Small Business Watch index to drop 10 points between July and August.

Small businesses are struggling nationwide, and yet some have survived, thanks to tactics including prudent strategic thinking, working harder and leaner, and good financial tactics like factoring. Here are some of the most frequently asked questions:

Q: How quickly can I receive funding from an invoice factoring company?

IFG usually completes funding within 24 hours.

Can I be selective in the invoices I sell?

Of course, you can be selective. IFG does not expect to buy 100 percent of your receivables.

Can I sell just one invoice?

Yes IFG has no minimum sales volume requirements. You use the service only as you need it. Similarly, there are no maximum limits either.?

How much can you advance against invoice?

IFG can advance up to 90% against invoices you are selling.

How much will it cost?

IFG’s professional fees are competitive. Each client’s circumstances will vary and may have an impact on the fees.

Source: Discover Small Business Survey.

Invoice Factoring Versus Latest Tax Breaks for Small Business

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Small businesses could be receiving $200 billion in tax breaks if they invest in new equipment and plants. The Small Businesses Job Act will also double the current expensing limit to $500,000. According to the latest proposal from Washington, this allows business owners to write off 100 percent of the investment in a year.This as opposed to a series of deductions over a number of years.

Analysts see one thing wrong with this picture — most small businesses aren’t making expenditures that exceed the current $250,000 expensing limit. Therefore only some businesses will benefit, but most smaller businesses most will not benefit from the proposed tax break. What’s more they also agree that no single solution works for every business.? 

There is a solution that does work for almost any business, and that is accounts receivable factoring. Factoring companies have been successfully helping small to medium-sized businesses stay afloat for years. Factoring is a simple yet beneficial tool for business owners in time of financial need.

Obtaining loans from banks and other traditional financial institutions can be an arduous process. That’s where IFG’s invoice factoring services (a.k.a. invoice discounting) is a better way to obtain short-term working capital for growing businesses who often find it difficult to attract conventional funding.