I was talking to the founder and CEO of a business turning over £ 9,000,000 and rising rapidly earlier this week and I was surprised to discover that they had not heard of ‘factoring’. I assumed everyone knew what it was and why you might do it. Factoring can be a good way of financing growth without borrowing money or selling equity.
This excellent explanation by Paddy Hirsch from Marketplace.org of the value and risks involved in factoring your invoices tells you all you need to know. He does great videos on all sorts of stuff.