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As a company, when you send or receive invoices, they will have to be paid within a certain number of days. A statutory payment term applies here. However, many entrepreneurs choose to shorten the payment period of their invoices in order to have the money they need sooner. But how do you actually determine the payment term of invoices? What is and isn't allowed in this, and in what ways can you shorten it? We cover it in this blog! How do you determine the payment term of your invoice? The legal payment term for your invoice depends on a number of factors. First, the type of company you did business with plays a role. Different payment terms apply to small businesses and the self-employed than to large companies. But this is not the only thing. You may also have made certain agreements with the customer or company you sent the invoice to, which can play a role in determining the payment term of your invoices. Based on these two factors, you can determine the invoice payment period...
As an entrepreneur in small and medium-sized enterprises (SMEs), you may be familiar with the challenges associated with obtaining financing for your business. Fortunately, there are special credit options available tailored to the needs of SMEs, among other alternative forms of financing. In this blog, we take a closer look at the question: what is SME credit and how can it support your business? The significance of SME credit SME credit is a form of financing specifically designed for small and medium-sized enterprises. It is designed to give SMEs access to financial resources they can use for various purposes, such as investment, growth, working capital, equipment, inventory and more. Various forms of SME credit One of the main advantages of SME credit is that it offers flexible financing options tailored to the needs of your business. You can choose from different forms of SME credit, such as business loans, overdrafts, leasing and factoring, depending on what best suits your...
Acquisition International is Proud to Announce the Winners of the 2023 Business Excellence Awards, and Factris is among them. Leading B2B publication, Acquisition International, has launched the 2023 edition of the Business Excellence Awards. Now in its ninth year, the Business Excellence Awards are truly the cornerstone of Acquisition International’s annual celebratory programmes. Awards Coordinator Holly Blackwood commented on eve of the announcement: “This programme gives us a fantastic reason to celebrate those businesses and individuals who are shaking up the corporate landscape. They are each on an upward trajectory to unrivalled success as they continue to innovate their industries for everyone to benefit. Congratulations to each and every one of our winners.” Business Excellence is defined by those not only looking to improve their operations, but those who are actively taking part in building business to have a positive impact on the world. With client service at their core,...