Megan Ferguson

  • Posted by simon-perrin
  • On January 23, 2019

“Being a small company, cashflow is king”

“Going to get finance as a brand new business was tough, so we funded our startup on our own. We do maintenance and construction of overhead powerlines so there was a lot of outlay — training staff, getting trucks and equipment.

Our business has been operating for about 12 months now. There’s a lot of 30-day-plus accounts and some of the bigger contractors aren’t great at paying on time. Being a small company, cashflow is king.

We started using AddCash when we started to get more staff.
We’d been doing a lot of work in Queensland and that contract finished and our crews started work in Victoria. Because it was a different state, we had some hoops to jump through. There were about 4-6 weeks where staff had to go through training and certification, so there were staff wages, travel costs and accommodation. It was all going out, nothing coming in — AddCash really helped us at that time. We now employ 15 people.

Working with AddCash has been really good for us. All their staff have been great — really prompt at getting back to us, and we can access the money within 24 hours. Paying our staff fortnightly, that cashflow is critical. AddCash has really helped us get over the line in our first 12 months. Helping us with cashflow, ensuring that we can pay our staff and accounts and suppliers. Without AddCash, we may not still be operating.”