Many people believe that factoring is a credit facility. It actually isn't when you factor your invoices, you're in fact cashing up an asset because that's exactly what your invoice is, an asset.
The Interface Financial Group's Gary Wong points out that factoring does not add to a company's debt.
It's that time of year again when you begin thinking about next year; about 2016 and what it will hold for you. Your mind turns to how you can take active steps to advance your personal life or career because there's just something invigorating about being able to start from scratch' on 1 January but how do you make sure you get to keep your resolutions?
A Wholesaler of catering products to retail stores was unable to promptly fill customer orders because its supplier gave no credit terms, but industry expectations required them to provide up to 60 days credits for retail store buyers.
We farewell David Gibbs and welcome his replacement Jan Wilson to the IFG Auckland North Shore office. David was a founding member of IFG NZ and has decided that after 11 years, the time is right for him to seek out new ventures. He will be sorely missed and we wish him all the best in the future.
It's no secret that banking attracts a disproportionate share of introverts. While being analytical and detailed oriented may make you good at your job, sadly these traits alone are unlikely to get you promoted. Introverts can however make great leaders.
How much time do you spend reading each day? Most adults read at about 250-300 words per minute (wpm). Unfortunately according to Forbes even 300-400 wpm may not even be enough to stay competitive in this information-obsessed world (i.e. college students average about 450 wpm).
There are some simple ways to ensure that 2015 doesn't become the year of the cash flow woes. It can be much harder for big business than a SME to quickly adjust to take advantage of new opportunities or to detour to avoid disaster. A little extra advance planning though can mean the difference between boom or bust.
This client was referred to Interface by a Bank who was unable to extend their facility any further. The client has IRD arrears from a previous failed business venture and a 5 year instalment plan has been agreed with the IRD commencing with an initial upfront payment.
A longstanding client of IFG in Wellington recently experienced an event which threatened to adversely affect their business operation.
Make sure you do as much research as possible when you're picking a savings account for your kids. Most major banks, building societies and credit unions will offer savings accounts that have been specifically set up for children to use.
Apps are a cost-effective way for people to make their projects run like clockwork. Here are five of the best in the business...
You don't work a room like Austin Powers and you didn't become a finance professional to schmooze. Networking is not taught at university or covered by professional training, yet it's a critical part of our professional lives.
Our client purchased a passenger transportation company 12 months ago which has increased their vehicle fleet to cope with the increase in demand for services. The increase in business has placed a strain on cash.
The recent Dun and Bradstreet quarterly report noted that businesses in New Zealand are experiencing a cash flow boost from the country's strong economic performance, with the average time taken for invoices to be paid falling to the fastest second quarter level on record, 41.4 days.
The Xmas and end of year holiday period is not too far away and many SME business customers will be considering their cash flow requirements for this period.
Technology can be pretty impenetrable but that doesn't mean you should listen to rumours. We take a look at five common misconceptions in the world of tech.
New Zealand banking customers can already expect 24/7 call centre service from their banks. But for face-to-face advice, visiting a branch during opening hours may not always be convenient. So how can customers receive face-to-face service at a time that suits them? Video banking.
How are you showing your customers appreciation this festive season? Are you spreading the word about your holiday opening hours? What step are you taking to supercharge 2015?
For many small businesses, effectively managing customers and how they pay can mean the difference between boom and bust. Here are a few quick tips to help you stay sharp.
Voluntary turnover in the finance industry has risen steadily each year since 2010 and retiring baby boomers are a leading cause. As baby boomers leave, companies are struggling to recruit for higher level positions.
Get started with a free consultation. We're happy to discuss your funding needs without cost or obligation.