Brought to you by Hokodo
Business-to-consumer (B2C) firms normally get paid at the point of sale, but when it comes to business-to-business (B2B) transactions, the process is more complicated.
Generally, once the work is complete or the goods have been delivered, B2B firms send an invoice which includes payment terms. The buyer usually has between 30 and 90 days to pay, although the time frame can be even longer. Transactions in the freight and logistics industry, for example, can stretch to 120 days.
This puts B2B suppliers in an uncomfortable position. While they are waiting for the cash, the bills mount up. And studies show that the smaller the business, the harder they get hit.
This guide has been created for those B2B firms that find themselves anxiously waiting for payments to come through. This guide is not financial advice, but we hope it will be helpful. Hodoko have also included sections for companies looking to expand, who need finance beyond their invoice payments.
Depending on the type of business you run, there are different options available to help you boost your cash flow, grow your company, and take back control.
Download this eBook to find out more.
