With its imminent advertising campaign featuring chicks as the new start business analogy, Cash Simply has made a sensational addition to it product offering.
Up to 4 weeks free overdraft!
Tom Atkinson, CEO of Cash Simply commented We recognise that one in two new starts in the Temp recruitment sector will fail in their first year usually due to lack of cash but cash flow management remains a headache for many others in the variable labour demand business.
Invoice financing helps. However, even with good invoice finance, recruitment businesses can be caught on the hop. For example, the lull after Christmas can mean weekly invoice values - and therefore access to finance - falls, just at the time when lots of Temps request Holiday Pay and Temp costs can suddenly exceed invoice values.
If there is inadequate pre arranged overdraft facility at the bank (and they can’t usually be set up in a rush) quite simply an otherwise sound business can go bust and we don’t want that to happen to any of our Customers!
We have helped out several Customers in the past and at a recent strategy meeting we decided to formalise that help.
So from now on, if any of our Customers experiences Temp costs which cause it to run out of cash, we shall step in on behalf of that Customer and for up to 4 weeks during any tax year provide a free overdraft to make sure that their Temps are paid.
We shall take away the worry for the business and the risk for the Temp, without any cost to the recruitment business.
For more info about keeping your Temp business out of dire straits, see:
Money for nothing and chicks for free
Cash Simply has makes a sensational addition to it product offering
