It’s business planning season and, although the weather may have shifted in line with autumn, the headlines remain resolutely stuck on inflation, energy and economic turmoil. This is making it harder than usual for business owners to predict and plan for the next 12 months with potential tax rises and bumps in cashflow ahead.

While there is no magic crystal ball to predict the future, businesses are being urged to use alternative sources to shore up their finances and prepare for the unexpected. For many, increased costs mean that a once stable cashflow is becoming uncomfortably stretched and, as we all know, there’s only so far that the cash will go before something snaps. Buying stock to complete orders, paying suppliers and staff all need to be taken care before you create a penny of profit, and a cash injection could be an easy way to bridge the gap.

The flexibility of business finance these days means that there are multiple ways to use funding, from a fixed loan to flexible borrowing, as and when cash is required. Borrowing against invoices, future card payments and even existing assets are all fantastic ways to release money into your business without affecting the day-to-day accounts or an existing overdraft facility.

The challenge is that many companies still refuse to see finance as a business tool, as they might regard their equipment or vehicles. In Complete Commercial Finance’s 2022 Business Survey, for the second year running, not knowing where to find the right finance, thinking it was a hassle to organise and that it would be too expensive were stated as the three main barriers to using external finance by 90 per cent of our respondents. Yet, used intelligently and correctly with advice from a whole of market broker, borrowing can strengthen and transform the outlook for a business.

The truth is there are always peaks and troughs in the economy, but funding can create confidence and enable a company to bounce back, particularly as new opportunities emerge. Look for the opportunities that tough times often create – what discount could you negotiate by buying stock in bulk or advance? What sites might become available to enable your company to expand? And what products or services could you develop to help other businesses cope with the challenges ahead?

While you know your business best, it’s probably true that finding and using finance requires expert advice, and we are here to provide guidance and support. As you start planning for the year ahead, broaden your perspective on borrowing – the biggest barrier to successfully navigating the next few months could just be changing your mindset to embrace the change.