With all the business taxes and expenses you have to manage as a small business owner, you may often wonder if you can delay paying your employees. After all, you have been a great boss and your employees are loyal, right?
There are numerous things you can delay in business, such as writing that book on the secret of your success or re-designing your business cards. However, if you delay paying your employees, this has consequences that can negatively affect your bottom line.
Why You Can’t Delay Paying Your Employees
Your employees should be considered as an asset for your business. They help you stay successful by providing excellent customer service, making deliveries on time and ensuring that your company maintains a reputation for quality and professionalism. This could all change if they don’t get paid.
Employees always have the option of going elsewhere and the good ones will be quickly snatched up by your competitors. There is also the time and considerable expense of replacing workers who leave.
The ones who stay will probably not be happy and may take their frustration out on your business. This can be done through displaying poor attitudes and performance in front of your customers or ripping your company apart on social media and online rating sites. Even if you think no one was paying attention to your company before, this kind of negativity makes them sit up and take notice.
What to Do When You Need to Delay Paying Your Employees
In a word: don’t. Instead, contact a cash advance company like Financing Solutions (www.fundmypayroll.com). They can provide the funding you need to avoid this option.
With fast business funding from Financing Solutions, you will be able to make payroll. This money can also be used for any other business expense, such as purchasing supplies or building working capital.
The process is fast and simple. They will purchase some or all of your account receivables and give you cash now based on a percentage of the value. It only takes 15 minutes to apply and you can have the money in your account within 48 hours. This should allow you plenty of time to pay your employees.
Other Things You Can’t Afford to Delay
Being a small business owner is not a vocation for procrastinators. While some items on your to-do list may be able to wait, others cannot.
For instance, you cannot put off paying your business taxes. The Internal Revenue Service can hound you about taxes for up to ten years. They also have the authority to garnish assets, impose hefty fees and penalties, and ultimately close your business.
Additionally, you should not postpone taking advantage of opportunities to grow your business. These chances don’t come along too often, so when one does, it is vital to seize it. As they say, if your business is not moving forward, then you are standing still (or worse, going backwards) and this can create an opening for your competition to get the jump on you.
Another factor that you cannot delay is getting fast business funding, which is why you should contact Financing Solutions. With their help, you do not have to delay paying your employees.
