Combating inflation with a Lenkie credit facility

As a small or medium business owner in the UK, you may be feeling the impact of rising inflation, which has, in this past year, reached its highest level since 2012. In the past 12 months alone, according to the Office for National Statistics, the Consumer Prices Index (a measurement used to track inflation in the UK) rose by a staggering 10.1%.

This steep inflation rise has resulted in higher costs for materials, inventory, and overhead, making it challenging for businesses to manage their cash flow. Business customers may also be struggling with high food and fuel prices, affecting their spending habits and making them more sensitive to price changes.

However, there are ways for you to combat inflation and ensure that your business stays afloat and even prospers during these tough times. Here are some business ideas you could implement:

#1: Build an emergency fund and cover expenses with a line of credit.

To protect your business from potential losses, you can use Lenkie’s Grow Now, Pay Later line of credit to cover your outstanding expenses and build an emergency fund. This will help you spread out your short-term liabilities over a more extended period of your choice, turning them into long-term liabilities. 

Alternatively, you can set up a line of credit and use it as a safety net for emergencies while covering current expenses with current revenue. 

#2: Negotiate with suppliers and purchase supplies in bulk

Another option is to renegotiate with your existing suppliers for better pricing in return for cash terms. In today's economy, cash is leverage. With a Lenkie line of credit, you can purchase supplies in bulk, resulting in cost savings. Although it may not solve your supply chain problems, building inventory by increasing materials purchases for other product lines can be beneficial in the long run. 

#3: Invest in marketing campaigns

The most aggressive plan is to invest in marketing campaigns to better promote your goods and services. By using your transparent, hassle-free line of credit from Lenkie to fund marketing efforts, you can boost sales and gain valuable insights from the marketing data. This will better help guide where to spend your money for best customer retention.

During these challenging economic times, it’s essential to spend money to make money. With rising costs due to inflation, Lenkie’s credit facility can provide you with the funding needed to increase revenue.  With its user-friendly platform, transparent fees, and quick approval process, it's no wonder why Lenkie is becoming a go-to solution for small and medium sized businesses in the UK. 

Want to learn more? Contact Lenkie at hello@lenkie.com today or apply for financing. It only takes 3 minutes!