Posts Tagged ‘cashflow problems’

New Company Formations, Metro Bank and Short Term Business Loans- BFB Epsd 152

Posted on: January 20th, 2017 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

According to the Centre for Entrepreneurs new company formations are at an all-time high. In this episode of the Business Finance Bulletin we look at the numbers and where the entrepreneurial hotspots are.

Metro Bank, one of the so-called challenger banks, has committed to helping more small businesses in 2017 with funds to support growth. How could they help you?

Cashflow problems can hit a business at any time but quarter end and quiet seasonal periods can be particularly tough. We take a look at how short term loans can provide much needed cashflow relief.

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Cashflow Problems? A Short Term Business Loan May be the Answer

Posted on: January 17th, 2017 by blsuser1 No Comments Tags: , , , , , ,
Posted in Business Finance Tips

For many businesses, certain times of the year can be a struggle when it comes to juggling cashflow; you may be a seasonal business, you have a growing list of overdue invoices and to cap it all you may be faced with your quarterly VAT bill or personal and business tax.

What can you do?

Whilst chasing overdue payments is a given it’s easier said than when your customers may be facing exactly the same cashflow crunch that you are.

One little know option is to look at a short term loan.

Short term loans are ideal way of quickly replenishing cash to cover outstanding creditors, Corporation Tax, VAT, PAYE or NI arrears. They can also be used to supplement your working capital requirement to allow you to purchase stock upfront with cash, thereby potentially allowing you to negotiate better terms.

Short term loans can be granted very quickly with a minimal amount of information. Decisions are based on the quality of your credit file, the operation of your bank account and past financial performance.

If your application is approved then funds can typically be released within 24 hours, sometimes the same day. Short term loans are for periods from one month upwards with flexible repayment terms and can either be repaid daily or monthly.

The speed of decision and access to funds does come at a cost in terms of a higher interest rate and fees than you may be used to but these can be offset against the speed of decision and swift access to the funds.
If you’re in need of cash boost and want to know more then get in touch and we can chat through your options.

Asset Finance & Bank Lending, Business Confidence and Late Payment – BFB Epsd 149

Posted on: December 16th, 2016 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In this Bulletin, we kick off with our monthly round-up of how lenders are supporting businesses in terms of accessing finance. We look at the latest figures from the Asset Based Finance Association which reveal record business being written by the asset finance sector and levels of support given by the traditional High Street banks.

We review research from Aldermore Bank which shows that business confidence continues to define expectations with SMEs positively looking forward to 2017. How are they planning to expand?

The government is finally beginning to share the rules and regulations they plan to implement in 2017 to curb the late payment epidemic. We look at the steps they will be taking with effect from 1st April 2017 and no doubt large businesses will be concerned about another set of bureaucratic rules to follow!

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

The Alternative Business Finance Bulletin – Triple Whammy Cashflow Crisis and Personal Guarantees

Posted on: December 9th, 2016 by blsuser1 No Comments Tags: , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

Due to illness, BLS’s Rob Warlow has been unable to prepare his weekly video Bulletin, so this week, a text-only version.

retail-financeA Triple Whammy Cashflow Crunch

Whilst this time of year is the season of joyful celebration, for some business owners it can be a stressful time when it comes to juggling and managing cashflow.

As we approach the year-end there are businesses which can face a triple whammy hit to their cashflow. Each of these reasons is bad enough but combined, they can cause chaos to your cash position.

In order to keep you credit record and payment profile ‘clean’ you need to be what you can to ensure these commitments are met.

But what to do?

Here are some steps to take.

  1. To preserve cashflow consider talking to a select number of your creditors and see if they will agree to extended payment terms
  2. Chase any outstanding invoices owed to you which are overdue – don’t be shy in chasing, this is money legitimately owed to you!
  3. Take out a short-term loan (terms from 3 months to 24 months) to help put your cashflow back on track
  4. Consider using Selective Invoice Discounting to unlock cash tied up in outstanding and new invoices

Don’t be hostage to a cashflow crisis; take firm action.

If you want to know more about short-term loans or Selective Invoice Discounting get in touch and we will be happy to chat you through the options.

Personal Guarantees… What Exactly Are You Signing Up To?

If you have every borrowed money and operate through a Limited Company then, as a Director you have probably been asked to sign a Personal Guarantee.

fountain-pen-1But do you know what signing such a document entails?

According to findings in a survey carried out Wirefund, a working capital loan provider, a large number of business owners are not aware of what they are signing.

When asked to describe what they understood a Personal Guarantee to be, just 45% could accurately outline what was at stake, which is that the bank would ultimately be able to repossess your personal assets if the business cannot pay back the loan.

Worryingly 21% said that a business owner/director who signs a Personal Guarantee would simply be personally guaranteeing that the money owed would be paid on time, to the best of their ability… a long way off reality.

Despite this lack of understanding, the majority of business owners have agreed to provide a Personal Guarantee when borrowing money. The survey revealed that 79% stated they had not been put off taking a business loan simply because it included a request for a Personal Guarantee.

The bottom line is that ultimately your personal assets can be at stake but in the survey 61% were not aware of this.

In the vast majority of cases, when lending to Limited Companies, lenders will want a Personal Guarantee, so be mindful of what you are entering into. Wirefund on the other hand is one the rare lenders which don’t insist on a Personal Guarantee.

To find out more about their loan product visit their website www.wirefund.com

That’s It…

That brings this text-only version of our weekly Business Finance Bulletin to a close. We hope that normal service will be resumed next week!

Asset Finance Boom, Stock and Cashflow, and More to do on Late Payment – BFB Epsd 147

Posted on: November 25th, 2016 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

Whilst bank lending to businesses is slowly on the up, in this Business Finance Bulletin we look at the latest statistics from the Finance and Leasing Association which reveal that the Asset Finance sector is on a roll.

Carrying too much stock can tie up cashflow which can be better employed within the business. We look at research from the Asset Based Finance Association which highlights exactly how much cash SMEs have invested in unsold stock.

Another drain on cashflow is of course late payment. A new report from the Federation of Small Businesses is calling for more action on tackling the late payment endemic.

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Business Growth Fund Investments, Retail Sector Late Payers, & Cashflow Forecasts – BFB Epsd 146

Posted on: November 18th, 2016 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

As the Business Growth Fund celebrates its 5th birthday, in this episode of the Business Finance Bulletin, we look at the level of support it has been giving growing businesses in need of finance.

Late payment affects many small businesses, but a new report from Ormsby Street sheds light on which business is the worst late payer out of all the High Street retailers. If you supply this business, then you need to manage your cashflow very carefully.

Staying with cashflow, we look why actively planning your cashflow requirements is important, especially with the year-end approaching.

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Encouragement to Borrow, Alternative Finance Awareness and Bad Debt Write-Offs – BFB Epsd 131

Posted on: August 5th, 2016 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

With news that the Bank of England has reduced its Base Rate and an announce of a new scheme to get banks lending and businesses borrowing, in this edition of the Business Finance Bulletin we look at whether these will have the desired impact.

We take a look at the findings from a survey carried out by the British Chamber of Commerce and Bibby Financial Services which reveals low awareness levels of the sources of alternative finance amongst UK SMEs.

Have you been faced with writing off a debt owed to you following being hit by a late payment of an invoice? The latest Bibby’s SME Confidence Index suggests that too many businesses are writing off debts and the average sum involved is not small.

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Financial Advice, Paypal Working Capital Loan, Late Payment & a Bit About Brexit – BFB Epsd 130

Posted on: July 15th, 2016 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In this edition of the Business Finance Bulletin we start off with a look at where businesses get their financial advice from… and the number one source is not the most reliable.

Alternative sources of finance have been springing up from the least expected of companies and one of those is PayPay. We take a look at an update from PayPal on how successful it’s Working Capital facility has been amongst its UK clients.

Late payment can be a serious topic but Xero, the online accounting software provider, has put a special twist on one of Adele’s songs to highlight the problems late payment can cause. Take a look on our blog where you can watch the video!

Recent Bulletin’s wouldn’t be the same without mentioning Brexit but this week alternative finance provider Capify, presents a positive message about its impact – a nice change!

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Chasing Payments – A Lighthearted Look at Late Payment

Posted on: July 14th, 2016 by blsuser1 No Comments Tags: , , , ,
Posted in Business Finance Tips

Late payment is a serious problem for small businesses but Xero has taken a lighthearted look at the problem by re-working Adele’s song Chasing Pavements as Chasing Payments!

Xero have also launched ChasingPayments which provides tips and hints on avoiding late payment and chasing overdue invoices.

Brexit Fall-Out, Business Confidence, and Late Payment Growth Impact – BFB Epsd 129

Posted on: July 8th, 2016 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In the latest episode of the Business Finance Bulletin we look at the continued fall-out from the Brexit vote; how the Bank of England have taken actions to boost bank lending and lender’s appetite to support UK small businesses.

We review the latest quarterly Small Business Index survey released by the Federation for Small Businesses which, although prepared before the EU Referendum, indicates that business confidence was already slipping.

Does late payment have an impact on productivity? The answer is revealed in a survey carried out by Xero, the online accounting software provider, which also reports on how many days per month business owners spend on chasing late payers. What a waste.

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

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