subject: Accounts Receivable Factoring For Businesses In Gerontology [print this page] The Chronicle of Higher Education says that one of the hottest academic fields for the future is known as gerontology The United States Bureau of Labor Statistics says the aging-services industry, elderly and disabled services, also known as home healthcare and community care facilities for the elderly, make up three of the top ten fastest growing industries.
Currently a major at schools like the University of Southern California (USC), gerontology is where students are tracking the trends and creating businesses that fulfill needs after they graduate to serve the more than 37 million seniors today.
In around 20 years, seniors will comprise nearly 20 percent of the U.S. population. Many industry analysts say they also have cash and a calculated spending that exceeds $1 trillion.
It's these entrepreneurs catering to seniors that will have to keep their businesses running during a tough economy, so accounts receivable factoring might help them through the early stages of their new companies. Some of the businesses cater to baby boomers and older Gen Xers who must find care for their parents at senior adult day-care centers where these seniors can socialize and participate in activities in a supervised environment. Less formal social centers are more prevalent, catering to those with higher levels of functioning, whereas a medical day-care facility provides a more complex level of care incouding one or more registered nurses. Starting oan elder services business requries cash flow, so when cash is low at the end of the month, many owners use invoice factoring to meet their monthly supply needs, pay employees, and pay bills. The bigger their business grows, the more workers they will have, and the more time they'll have to spend managing them instead of doing the actual work.
Elder care service companies need cash flow on hand to grow, and many businesses have none. Some of these elder services companies have discovered that invoice factoring is their salvation to keep things going. Invoice factoring services, or spot factoring services, from The Interface Financial Group can be a beneficial tool for business owners in time of financial need. Getting loans from banks and other traditional financial institutions can be a challenging process. That's where IFG's spot factoring services come in.
Single invoice factoring service (a.k.a. invoice discounting) is unique, simpler and superior to standard invoice factoring services provided by traditional old line factors. With our innovative factoring solutions we offer short-term working capital to growing businesses who often find it difficult to attract conventional funding.
Factoring is the way to get paid early on invoices that are now being stretched out to 60 or 90 days. Most service companies simply cannot wait that long to get paid for services rendered. Any business needs the funds to pay employees, bills, or buy supplies for production on new clients' work, and when they use accounts receivable factoring, they get the funds in as little as 24 hours.
by: Kristin Gabriel
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