Costs up, credit tight. Your money in is the answer

The news for small firms is rough right now.

Research from the British Chambers of Commerce says costs for a typical small firm are up more than 70 percent since 2016.

Investment intentions have fallen to the lowest level since the pandemic.

The Bank of England says banks are lending less to small firms too.

Its latest survey showed credit availability to small businesses fell further in the three months to August.

Diesel now averages more than £2 a litre for the first time.

And the Budget lands on 28 October.

You cannot change any of that.

What you can change is how your own money flows.

Price every job like costs are rising

Because they are.

A quote that worked a year ago may lose you money today.

Build every quote from your real costs.

Materials.

Fuel.

Your day rate.

A margin that survives one surprise.

Check supplier prices before you quote, not after.

Small firms that price on last year's numbers slowly trade themselves out of business.

Get the invoice out the same day

Every day an invoice sits unsent is a day you are funding the client for free.

Banks are lending you less.

So your invoices are your working capital.

Finish the job. Send the invoice. Same day.

Chase payment early and firmly

One in three UK small firms wants tougher late payment law by the end of this parliament.

That tells you how common late payment is.

Do not wait a month to follow up.

A polite nudge a few days after the due date works wonders.

Clear terms on the invoice make the nudge easy.

Hold a deposit where you can

Materials up front cost you money before the client pays a penny.

A deposit covers that gap.

It also tells you the client is serious.

How PlusWise helps

PlusWise keeps your quotes, invoices, clients and jobs in one place.

Build a quote from your real costs and send it fast.

Turn it into an invoice when the job is done.

Send the invoice by email with a payment link so the client can pay in one click.

See at a glance what is paid and what is still owed, so no invoice slips through.

When costs are rising and credit is tight, your own money in is your safest funding.

PlusWise is built for 1 to 5 person trade and service firms that want that money in, fast and tidy.