Highlighting some insights from Ingram Micro, quoting CRN:
Ingram Micro partners who used financing as a way to conserve cash during the early days of the pandemic experienced 11 percent growth, said Ingram Micro CFO of the Americas Anthony Mackle.
“We went back and we looked at everyone who used financing in Q2—it doesn’t matter what type—they grew their business by 11 percent,” Mackle told attendees of Best of Breed 2020, being held virtually by CRN parent The Channel Company. “And again, as I mentioned, in Q2 we had double- digit declines. But they were up 11 percent in a global pandemic.”
Why do we care?
I’d praised and pushed for leveraging financing programs, and here’s a data point showing the success of that.
Distribution’s ability to bring financing and capital to providers is undervalued in good times, and striking in bad times. Often a key point for small companies – you are not a bank. Do not act like one, and thus leverage any and all programs available to you. With an extended period to manage upcoming, continue to do so.