Confucius once said, “The strength of a nation derives from the integrity of the home.” Americans are embracing this concept with home improvement expenditures achieving double-digit gains for the first half of 2014. As the public holds onto homes for longer periods of time, they have graduated from simpler repairs to more encompassing renovation projects. Informational television is contributing to the increasing scope of homeowner’s projects.
The popularity of home improvement television programming has catapulted HGTV to one of the two top-rated weekend television channels for all people 25-54. Consumers are being motivated to invest in their homes both through do-it-yourself and professional home improvements. As the public holds onto homes for longer periods of time, they have graduated from simpler repairs to more encompassing renovation projects. This trend is borne out by the steadily increasing revenues of the big box retailers like Ace Hardware, Home Depot, Lowes and the hardware industry as a whole.
The hardware industry must continue to capitalize on the free publicity provided by such television while educating customers and assisting them in making sound decisions. Public awareness helps raise pride of ownership and lifestyle expectations. Both are beneficial to the industry and provide the additional growth opportunity. Sales increases provide management challenges and sometimes result in the need for more working capital. There are funding providers which can offer expertise and funds to help fulfill this need for liquidity.
As hardware suppliers ride the wave of their expanding economic sector, they are often met with financial needs, specifically for additional working capital. BusinessCash specializes in managing liquidity in today’s competitive environment. We offer over 20 years of experience providing funding for working capital needs through non-recourse accounts receivable financing, purchase order financing and credit protection.