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RELEASE Providing debtor finance into the labour hire industry is proving a big winner in the building industry. Business funding specialist, Oxford Funding, has found temporary labour hire companies have a unique problem with their cash fow - most have around 80 percent of their total expenses going to wages and salaries. Unlike other business costs which can be put off for at least a month or two, people must always be paid on time. And meeting that regular financial outlay is always a problem in this industry - whether it be starting from scratch or expanding. ‘This unusual cost distribution situation is the reason why temporary labour hire companies are the biggest single type of business on our books,’ says Oxford Funding’s Rob Lamers. ‘They are the ones who have realised how our debtor financing service is a perfect fit. These customers have used our finance products to either get a good start or grow their business or both.’ Oxford Funding has found the main benefit to such companies is getting paid against an invoice in just 24 hours instead of waiting the normal 28 days. This avoids the normal 4 week gap when all the normal expenses, including wages, taxes, superannuation and Workcover must be paid. As the leading specialist in this industry, Oxford Funding has found that over 70 percent of all the recruitment and labour hire companies act on their unusual costing situation by taking advantage of Debtor Finance. ‘These businesses have chosen Oxford Funding because of the way our service is so flexible and the way we step outside the normal strict industry methods,’ says Lamers. caption: Oxford Funding's National Sales & Marketing Manager, Rob Lamers. ENDS Contact Oxford
Funding on 1800 850 509 or www.oxfordfunding.com.au |
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