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|National Living Wage - how does this affect SMEs with cashflow issues?|
|Friday, 01 April 2016|
Tracy Ewen, managing director of IGF Invoice Finance, comments on the introduction of the National Living Wage “SMEs have had time to prepare for the introduction of the National Living Wage and the impact it will have on their organisation. However, the practicalities of business remain as constant as ever with unexpected expenses frequently arising. Many companies will find themselves with a reduced safety net of cash as a result of their increased payroll bill, meaning sudden costs or short term investments could prove difficult to manage.
"It is crucial that small businesses are still in a position to meet these financial demands and, during this time of adjustment, all avenues of financial support are explored. There are plenty of options available to smaller businesses who are struggling with a reduction in cashflow and may need to bridge a financial payment at short notice. It’s imperative for businesses to thoroughly review their options and ensure to make use of any free financial advice available.”
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