Single Invoice Factoring Enables Companies to Prosper

Job growth statistics in the United States are still not good enough for a strong economic recovery, and many businesses are trying to keep cash flowing until this is possible. The United States is down by 6.8 million jobs in the U.S. Employers added around 117,000 new jobs in the month of July. This cut the jobless rate a tenth of a point to 9.1 percent. (Source: Bureau of Labor Statistics.) Meanwhile, the private sector created about 154,000 jobs in a number of various industries.

These numbers for new jobs have always been an economic indicator, and they are just not enough new jobs for small to medium-sized businesses (SMEs) to feel safe for the future. And in order for businesses to prosper, they need cash flow. Did you know that factoring services is one of the top strategies for small businesses to make sure their cash flows? That's why many SMEs have resorted to other strategies like factoring services including a new tactic called single invoice factoring services, enabling companies to factor one invoice at a time, thus creating cash flow on an as needed basis. Business owners who are new to using single invoice factoring are finding that they can actually receive cash in 24 hours while enrolled customers can get cash in less than four hours. There are also no minimums, or maximums, and in fact simply no obligations. What's more, keep in mind that factoring is not a loan, and there are co-signers required, or account to open and there are no upfront fees.

According to the Commerce Department U.S. consumer spending dipped for the first time in nearly two years in June, by 0.2 percent, which is the first decline since September of 2009.

There was another report showing that June's small business borrowing hit a three year high which was actually up 25 percent from a year ago in 2010, and it was also the highest level since April of 2008 when the recession began. It also indicated borrowing rose in among all lender types and in all industries.

Finally, according to the July Insperity report the U.S. economy is at the top of the short term list among 79 percent of those who responded; and only 12 percent of small businesses believe that a true economic recovery is under way. Approximately 40 percent of small businesses have put aside expectations of an economic rebound until the first quarter of 2012.

(Sources: July Insperity report; Thomson Reuters/PayNet Small Business Lending Index.)

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