2 min read
Why professional services firms need finance
Consultancies and agencies pay skilled staff monthly but often bill in arrears and wait to be paid, especially on project work. Growth means hiring ahead of the revenue, stretching cash even in a profitable firm.
What tends to fit
A short facility bridges the gap between doing the work and being paid, and funds the ramp-up when hiring. Tighter collection shortens the cycle further.
What it means for you
See the sector view for professional services. Credicorp lends to your company, not to you personally, and takes no personal guarantee. See business loans or apply online.
Frequently asked questions
Why do consultancies run short of cash?
Because they pay staff monthly but bill in arrears and wait for clients to pay, particularly on projects. Hiring for growth widens the gap before the revenue lands.
What finance suits a professional services firm?
A short facility to bridge the work-to-payment gap and fund hiring, plus invoice finance where clients pay slowly.
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Read →Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.