Kings Drywall Services Limited - Plastering Contractor
Questions and Answers with Wallace King
1. What was the challenge you wanted to overcome?
I needed to work on the fluidity of the budget because I wanted to concentrate on the work instead of worrying about the money. I wanted to be able to take care of the work that needs to be done, with the peace of mind that I have a cash flow buffer in the background.
2. Why did you have this challenge?
We’re a growing business, so we’re hiring additional staff and we have lots of work ahead of us. When you’re a growing company, the money goes out faster than it comes in and if you don’t have enough capital behind you, it can be difficult to scale.
3. What did you try to do first, before talking to Interface, to overcome this challenge?
I tried to tighten the spending and reduce costs while squeezing through more work in the time frames we had. But the nature of how work turns up – with sometime delays due to factors outside of our control – means the best of plans don’t always work out the way you want them.
4. Were there any initial obstacles that delayed you engaging Interface? If so, what were they?
We have many different clients, but we did need to have at least one fairly significant key account which would enable us to put through an advance on certain invoices. We needed to satisfy Interface that we have a reliable business base.
5. What did Interface do to help you overcome this challenge?
Interface sat down with us and chatted about our clients, including who would be the most reliable to approach – the ones who had the credentials to partner with us and Interface Financial. So, they actually helped me get my clients on-board in a way that the client remained comfortable with the process.
6. What has been the result or outcome for your business?
I can now concentrate on the work. I worry less about the cash budgeting, knowing that even when it gets tight you don’t have to worry about whether or not the money will turn up. It has smoothed out the worries, especially when we’re trying to expand.
7. Would you recommend Interface to other people? If so, why?
Yes. Working with Interface takes the worry out of the business and lets me keep my mind on future growth and expansion, rather than worrying about how to keep things turning over.