Business Factors’ Staffing Factoring Division Prepares for Expected Rise in Demand Related to Effects of the Affordable Care Act
Staffing Financing Will Only Continue to Increase as More Companies Turn to Temporary Workers
The Affordable Care Act (ACA) has businesses of all sizes and industries in a whirl as they make corporate changes to satisfy the new law’s requirements. Frequently referred to as “Obamacare,” the mandate will require business with 50 employees or more to provide affordable, quality health care to their staff. Businesses who fail to comply with the new law could risk being fined.
As such, InvestingDaily.com suggests more companies are turning to temp agencies to fill positions and many of these agencies are unable to keep pace with the rate of growth. In addition, the staffing companies themselves are struggling to comply with the requirements of ACA. Pairing this rapid business growth with a rise in payroll and operational expenses, many staffing agencies will need greater working capital to sustain their business. That’s why Business Factors, which provides staffing factoring, medical staff factoring, temp agency factoring, and payroll factoring, is keeping busy getting ready to financially support customers in the staffing sector.
“At Business Factors we recognize that rapid growth, while often a good thing, can create its own problems in terms of insufficient cash flow and working capital,” says Robert Bernfeld, President of BusinessFactors.com. “With accounts receivable factoring, temp agencies and others can get the cash infusions they need to keep pace with the rate of growth so that expenses are covered and money is available to take advantage of new opportunities as they appear. The fast-moving, cyclical nature of invoice factoring fits well with a rapid growth business environment. ”
About: Backed by 40 years of experience, BusinessFactors.com is a leading invoice factoring company providing accounts receivables financing to a range of businesses including staffing, medical staffing, payroll and others likely to be impacted by the ACA mandate. By factoring accounts receivables, businesses can get cash in 48 hours by selling their invoices for about 96 percent of their value. This way, businesses can keep pace with rapid growth demands while ensuring their expenses are covered.