WorkCover Funding Solution
Jay Pyne - Heritage Finance
WorkCover Premiums – Claim Your 5% Discount While
Better Managing Cash Flow
WorkCover Insurance Premiums will soon be due for payment. If they are paid in full prior to 16th September, there is typically
5% discount applied to the Premium. This is obviously an attractive incentive, particularly if you have a larger WorkCover Premium amount.
However, the issue we see for many businesses is that trying to pay the Premium up front to claim the 5% discount places unnecessary strain on cash flow. Many businesses are also unaware that there are options available to fund their WorkCover Premium so they can claim the 5% discount, and still repay the funding over 10 months to smooth cash flow. In most cases, taking this type of approach also has no impact on any existing lines of credit that the business may have in place.
Reflecting on our own clients, we have always taken an approach to doing the heavy lifting behind the scenes in sourcing funding and finalising the terms. This keeps the business owner free to get on with the job and not spend time and energy sourcing funds, negotiating terms, etc.
If you would like to learn more please contact: jpyne@heritagefinance.com.au or call 0437 696 861.
