George S. Patton once said you should “Accept the challenges so that you can feel the exhilaration of victory.” In business, victory comes when you have enough cash to manage daily operations. That’s why you might need a fast line of credit so you can make payroll.
It’s likely that you are an entrepreneur because you want to make a difference. Your employees can help you get there as long as you continue to make payroll regularly and consistently. This often requires a fast line of credit.
Why You Need a Fast Line of Credit So You Can Make Payroll
Financial ups and downs are a natural part of doing business. Whether seasonal, personal or relating to personnel, you have probably come to accept that no two days are the same.
Cash flow in particular can be especially unpredictable. You may find yourself flush with cash one day and feeling like a beggar the next. In other words, sometimes you eat the bear and some days the bear eats you.
Although you understand and accept this conundrum, it can still be scary when you realize you may not be able to make payroll for the week or month. When this happens, it’s a clear sign that your business is in danger. As a result, you wonder what people will think about you and what your employees will do.
What Happens to Your Business When You Can’t Make Payroll
The answers are simple. Banks and vendors will see your business as floundering and not want to work with you. Your competition will see an opening and pounce in your moment of weakness.
Employees are a different story. They will resent you because now they can’t pay their bills. In addition, they might take their frustration out on your business. This may be done by being less productive or rude to clientele, leaving you with a mess to clean up. And the really good ones will just leave.
You can also get into hot water with the U.S. Department of Labor. Not paying your employees is a violation of the Fair Labor Standards Act. In addition, if you are missing payroll, chances are that you’re not paying payroll taxes either. This will quickly attract the attention of the IRS.
How You Can Avoid Trouble and Always Make Payroll
Business experts will tell you that you must always leave room in your budget to ensure that you can cover payroll. Of course, in the real world, this is easier to say than it is to do.
The rising cost of materials, seasonal slumps and emergencies can wreak havoc on even the tightest financial plans. If this describes your company, you need fast cash for your business right now.
Many small businesses have found the remedy by getting a fast line of credit from Financing Solutions (www.financingsolutionsnow.com). You can get one too. It starts by answering 10 simple questions online.
At Financing Solutions, you can get the money you need to make payroll in 48 hours or less. This is your best option for short term business funding.