Information for the city of Little Rock
Little Rock is the capital and the most populous city of the U.S. state of Arkansas. It is also the county seat of Pulaski County. It was incorporated on November 7, 1831 on the south bank of the Arkansas River very near the geographic center of the state. The city derives its name from a small rock formation along the river, named ""le Petit Rocher"" by the French in 1799. The capital of the Arkansas Territory was moved to Little Rock from Arkansas Post in 1821. The city's population was 193,524 at the 2010 census.
The five county Little Rock North Little Rock Conway, AR Metropolitan Statistical Area (MSA) is ranked 75th in terms of population in the United States with 724,385 residents according to the 2013 estimate by the United States Census Bureau.Little Rock is a major cultural, economic, government and transportation center within Arkansas, the South and the nation. Amenities such as Arkansas Arts Center, Arkansas Repertory Theatre, Arkansas Symphony Orchestra are available in addition to the hiking, boating, and other outdoor recreational opportunities available to residents and visitors. Little Rock's history is also available to residents and visitors in a variety of ways; history museums, historic districts or neighborhoods like the Quapaw Quarter, and historic sites like Little Rock Central High School.
The city is the headquarters of Law Firm. Other large corporations, including Power have large operations in the city. State government is also a large employer, with most offices being located in downtown Little Rock. Two major Interstate highways, Interstate 30 and Interstate 40 meet in Little Rock, with the Port of Little Rock serving as a major shipping hub.Major corporations headquartered in Little Rock include Communications and xiom.
Information for the state of Arkansas
"Once a state with a cashless society in the uplands and plantation agriculture in the lowlands, Arkansas's economy has evolved and diversified to meet the needs of today's consumer. The state's gross domestic product (GDP) was $105 billion in 2010. Six Fortune 500 companies are based in Arkansas, including the world's #1 retailer, Walmart. The per capita personal income in 2010 was $36,027, ranking forty-fifth in the nation.
The three-year median household income from 2009-11 was $39,806, ranking forty-ninth in the nation. The state's agriculture outputs are poultry and eggs, soybeans, sorghum, cattle, cotton, rice, hogs, and milk. Its industrial outputs are food processing, electric equipment, fabricated metal products, machinery, and paper products. Mines in Arkansas produce natural gas, oil, crushed stone, bromine, and vanadium. According to CNBC, Arkansas currently ranks as the 20th best state for business, with the 2nd-lowest cost of doing business, 5th-lowest cost of living, 11th best workforce, 20th-best economic climate, 28th-best educated workforce, 31st-best infrastructure and the 32nd-friendliest regulatory environment. Arkansas gained twelve spots in the best state for business rankings since 2011. Arkansas's earliest industries were fur trading and agriculture.
Although approximately 3% of the population is employed in the agricultural sector, it remains a major part of the state's economy, ranking 13th in the nation in the value of products sold. The state is the U.S.'s largest producer of rice, broilers, and turkeys, and ranks in the top three for cotton, pullets, and aquaculture (catfish). Forestry remains strong in the Arkansas Timberlands, and the state ranks fourth nationally and first in the South in softwood lumber production. In recent years, automobile parts manufacturers have opened factories in eastern Arkansas to support auto plants in other states. Bauxite was formerly a large part of the state's economy, mostly mined around Saline County.
Tourism is also very important to the Arkansas economy; the official state nickname ""The Natural State"" was originally created for state tourism advertising in the 1970s, and is still used to this day. The state maintains 52 state parks and the National Park Service maintains seven properties in Arkansas, including the nation's first National Park, Hot Springs National Park. The completion of the William Jefferson Clinton Presidential Library in Little Rock has drawn many visitors to the city and revitalized the nearby River Market District. Many cities also hold festivals which draw tourists to the culture of Arkansas such as King Biscuit Blues Festival, Ozark Folk Festival, Toad Suck Daze, and Tontitown Grape Festival."
You no longer have to waste time in collecting on invoices.
Little Rock Factoring Companies
The main benefit of factoring is that a business is not required to wait one or two months (sometimes more) for payment by a customer, the business will receive cash in hand to operate and grow their business. -Little Rock Factoring Companies
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Little Rock Factoring Companies Articles
Receivables Factoring at whatisfactoring.org
Financing Temporary Staffing Agencies
In recent years temporary staffing agencies have become very profitable, because the current business environment prefers to outsource employees rather than hire them. This situation creates a very attractive and viable opportunity for temp staffing agencies. But, similar to other businesses, in order to operate a successful temp staffing agency, working capital is an absolute necessity. This requirement of working capital has become a problem for most agencies who often suffer from a cash flow crisis. Having adequate cash flow prevents the company from being run effectively, thus stopping the company from adding new clients. The result is that the business fails to grow. Fortunately, there is a solution to this problem, and the solution is the right type of financing.
Payroll and Bills Must Be Paid on Time!
The most important and probably the biggest expense of any temp staffing agency is employee payroll. Obviously, employees expect to be paid regularly and on time, and if this is not the case, they'll quickly move on and find work elsewhere. In addition, the agency needs funds to pay for other employee-related expenses, such as employment taxes. When a business fails to comply with tax regulations the costs involved can be extensive and can the even put the business itself in jeopardy.
Business Growth Is Impossible without Funds
Generally, Government and commercial clients pay their invoices somewhere between 30 and 60 days, and it's this timeframe that creates problems for temp staffing agencies. When an agency takes on a new client, before they start getting paid, the agency must be able to pay the employee's salary for up to two months.
This means that the only way to grow a temp staffing agency is to have a cash reserve to pay for running expenses. If you don't have a reserve of funds, then you can't take on new contracts; and if you work with larger contracts you need a larger reserve. And this is where it becomes a vicious cycle, because if you can't take on new contracts then business growth is impossible.
Payroll Funding: Helping Your Business Grow
Fortunately, there is a solution available for temp staffing agencies to resolve this very common financial problem, and it's known as Payroll Funding, or Payroll Financing. Payroll Funding is a solution that's been designed to help staffing agencies access much-needed working capital.
Payroll financing is actually a type of Invoice Factoring, allowing you to finance your slow-paying receivables. This type of funding provides your temp staffing agency with immediate funds. Now there'll be no more waiting for your Government and commercial clients to pay in 60 days - the payroll funding company will pay you within a day or two! Now you'll have the working capital your agency so desperately needs to meet payroll and other expenses; and now you can move forward and grow your business without constantly worrying about slow paying clients!
How Does Factoring Work?
Factoring is a very straightforward process. Basically, invoices are financed in two separate payments, with the first payment covering approximately 90% of the gross invoice value, and the second payment, which is the remaining 10% less factoring fees, is remitted to you once your client has paid. The first payment is paid into the temp staffing agency's bank account very soon after the invoice has been submitted for financing. In the meantime, your clients are not required to pay any sooner - they simply pay on their regular schedule.
Payroll Funding Is Available to Small Agencies
One huge advantage of factoring is that it's available to small agencies (even start-ups!) that don't have many assets. Because it's the invoices which are the assets the factoring company is financing, it's the credit quality of your customers that the factoring company is most interested in. Factors can only finance invoices if your customer (the payer) has good commercial credit, and that's why factoring has become a very viable and attractive option for both small and growing agencies whose greatest asset is their good clients.
Growing Your Agency with Factoring
Let's take a closer look at how your temp staffing agency can use invoice factoring to grow your company. We'll assume for the purpose of this article that you have a new client who requires six full-time employees for a few months. This new client is a large corporation and has a good reputation. The problem with this corporation, however, is that they pay their invoices in 50 days, and there's no way you can afford to carry the cost of the contract.
What's the solution? The solution is actually quite simple: you invoice the client weekly and factor the invoice! This funding strategy allows you to service the contract by providing your agency with weekly funds to pay employees. Providing you have clients with good credit and your agency provides good services, receivables factoring can be used very effectively to grow your business.
When factoring is used properly, it can help grow your temp staffing agency well beyond its current financial capabilities.
You no longer have to waste time in collecting on invoices.
Little Rock Factoring Companies Articles
trucking factoring companies
factoring companiesp> As the owner of your own business, you may be more than aware already of the difficulty in making sure that cash flow issues do not become a problem down the line. After all, the worst thing that can possibly happen for your business is to find yourself embroiled in a long and difficult situation that leaves you forever trying to find two pennies to rub together.
For any business in this situation, the problem can come for waiting for work to clear up and actually be paid into your account. Invoices, cheques and the like can take some time to actually processed which can leave you with short-term cash flow issues. Thankfully, there are options out there for businesses to look into – and one of these is factoring companies.
Factoring companies will, in exchange for your invoices, provide you with the cash today so that you don’t need to worry about the waiting period that could make paying the bills and getting materials more difficult. With this type of setup, invoice factoring can become incredibly useful for many businesses who need to get out of a cash trap which they have found themselves in.
Because, depending on the size of the job, it can take up to 60 days for some businesses to get paid then it’s important to cover your own back and not leave yourself short in that day. after all, how many businesses have two months revenue just lying there to cover all the losses until they get paid?
This is especially true of trucking companies. They tend to deal with lots of invoices which means a significant amount of running around and donkey work for the business owner themselves. Trying to get paid in time can become an incredible hassle and this is why you get specific trucking factoring companies who are happy to help out truckers specifically.
As we all know, trucking is an incredibly large industry with many companies out there employing hundreds of drivers. Unfortunately, many of these drivers can spend night in the cold or hungry as they are still waiting for work from six weeks ago to actually pay them. When this is the situation for a trucking company, turning to factoring companies for assistance might be the best choice left.
This means that a trucking company can pay the wages of the staff, keep all the vans topped up with fuel and continue to scale, grow and expand without always waiting for the never-never with money which is taking forever to arrive coming in. businesses running without a factoring model put in place are leaving themselves in significant risk, as competitors cash out fast and continue to expand.
There’s genuinely nothing to be worried about when it comes to using a Factoring company – they aren’t like a payday loan firm or somebody who is going to leave you with a huge pile of debt to apy back. Although you are technically borrowing a loan, so long as you only ever give them genuine invoices from work you have already finished you are merely speeding up the payment process.
In the United States, where trucking companies thrive, factoring companies are not considered borrowing in any capacity. This confidential agreement then allows both parties to profit and enjoy a comfortable future – it gives the factoring company a guaranteed asset of income to add to the list and it gives the trucking firm a wad of cash that they worked hard to earn.
The trucking company will usually need to pick up the invoice and cash it in still, and then make the payments back to the factoring company. Because it’s a confidential agreement, and it can look bad for a business to be involved in this type of short-term finance even though it’s perfectly legal and a very common practice, it’s usually in the hands of the company to get the money for the factor.
This is an extremely old business type and has been used for many years by many different types of work – but none more so than truckers. While you may miss out on a small part of the money , something like 15% depending on who you work with, it means that you are getting the money today and can actually start putting some food on the table.
After all, an IOU or an invoice is not going to be you fed and washed, is it? For trucking companies when the money can be good one day and gone the next, it’s up to the drivers to work sensibly and to ensure they are leaving themselves with a significant amount of time and finance to get through the week until they are paid again.
So the next time your trucking business is having some short-term cash flow issues and you are spending too much time chasing up slow paying clients, why not start considering to use factoring businesses as a way to change your motive and give yourself a more comfortable future in the eyes of your trucking staff and your bank balance?
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and at Factoring Company Reviews at staffingorganization.org