Posts Tagged ‘barriers to growth’

Businesses Cautious on Borrowing, Curbing Late Payment and Regional Angel Investors – BFB 229

Posted on: October 6th, 2018 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

A recurring theme in recent Bulletins has been emerging evidence of reluctance among small business to borrow and this trend is a highlight of the latest SME Finance Monitor Report. The report also reveals the top three issues which are of most concern to small businesses. Is access to finance still an issue?

Late payment has been another constant problem we have regularly featured in our Bulletins. In an effort to curb late payment the Government has called for thoughts from businesses on how it can tackle this problem. Do you have an idea to contribute?

To close this Bulletin, a look at a new £100m fund launched by the British Business Bank. With a large portion of angel investment focused on the South East, the Regional Angels Programme aims to improve access to early stage equity finance across the whole of the UK.

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.

Outdated Financial Information Can Impact Your Growth

Posted on: December 12th, 2015 by blsuser1 No Comments Tags: , , , ,
Posted in Business Finance Tips

In my latest Business Finance Bulletin Episode 101 I briefly reviewed a survey which revealed that businesses which keep up to date financial records are likely to grow twice as fast as those businesses with information more than nine months old.

This is such an important topic when it comes to raising finance that I thought I’d go into it in a little more depth.

The survey was carried out by KPMG Small Business Accounting and focused on how businesses can perform better when they have up to date financial information to hand.

KPMG found that small business’ management accounts are, on average, four months out of date, not a finding I can disagree with. However, more interestingly they found a direct link between having current financial information and likely growth rates.

They discovered that those with accurate information grew twice as fast as those with nine-month-old data over the last twelve months… 8% compared to 4%. A compelling reason if there was one to keep on top of your books!

This is a finding I can relate to. In arranging commercial finance for businesses, whether that’s for additional working capital or long term funding, one question the majority of lenders will ask is ‘can we see the latest management accounts’. Those who can deliver on the request have a far higher chance of getting finance than those who can’t.

On that basis, the survey’s findings that businesses with up to date figures are growing twice as fast is true – they are simply able to grab opportunities which their less organised competitors have to let slip through their fingers because they can’t get the finance arranged quick enough.

The researchers were also able to put a number on these lost opportunities. They estimate that with better financial visibility, small firms would have invested up to £1 billion more in the economy in the last financial year. Outdated financial information is resulting in lower levels of investment, employment, stunting productivity growth and holding back the economic recovery.

Many of the business owners I meet are the first to admit that they don’t like the financial aspect of their business and yet they struggle through trying to do the books themselves (usually in the wee small hours of the morning!), The survey found that small business owners spend more than two and a half hours on average each week trying to stay on top of their finances and probably doing a poor job or giving up!

The result of all this is that many business owners are making important investment and strategic decisions on the spot without a full understanding of their current financial position.

What’s the solution?

The answer is to pass the task of keeping your financial information up to date onto a bookkeeper or your Accountant; outsource it to the professionals. Concentrate on what you’re good at and get people in who love to crunch numbers.

The upshot of all this is the next time you are presented with an opportunity which needs finance then at least myself and other finance brokers will be able to move quicker and hopefully get you that all too elusive ‘yes’.

Business Finance Bulletin Episode 84: Business Confidence, Alternative Finance Figures and Short Term Loans

Posted on: July 24th, 2015 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In the latest Business Finance Bulletin episode Business Loan Services’ Rob Warlow looks at the latest Business in Britain survey from Lloyds Banks which reveals the strong level of business confidence and the one key issue which is holding businesses back.

On the alternative finance scene Rob talks about findings from small business finance company Liberis on how SMEs are sourcing finance and what success they are having.

Staying with alternative finance a look at the latest statistics from the Peer to Peer Finance Association which show further growth in the level of finance support by P2P platforms… but is there a slight blip in the amount lent to small businesses?

And in the Business Finance Tip of the Week Rob looks at the short term loan market and how it can help those businesses which have temporary cashflow gaps.

If you would prefer listening to this episode of the Business Finance Bulletin then check out our podcast version by click or downloading below via our Soundcloud channel or via our itunes channel.

Business Finance Bulletin Epsd 71: Business Confidence, Apprenticeship Funding & Selling Yourself to Your Bank

Posted on: April 24th, 2015 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In the latest Business Finance Bulletin episode Rob Warlow looks at the latest result from the Begbies Traynor Red Flag report which provides insight into how businesses see their financial condition in the first quarter of 2015.

Having the right skill set within a business is often cited as one of the barriers to growth and Rob looks at a new programme from Close Brothers, the asset-based lending bank, and the University of Sheffield designed to support businesses looking to take on apprentices.

With many alternative providers of finance looking forward to 2016 when banks will be required to pass on clients they cannot assist, one alternative funding platform reveals the extend of help they think UK small businesses will need.

In the Business Finance Tip of the Week Rob chats with sales mentor , author and international speaker Steve Clarke about whether there is any difference between selling products to customers and selling your idea to your bank.

If you would like the podcast version to listen to either on your phone or in the car click below to either listen to or download.

Business Finance Bulletin Episode 57: Late Payment, Business Growth, Crowdfunding & Business Processes

Posted on: January 16th, 2015 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In the latest edition of the Business Finance Bulletin Rob Warlow looks at news from Lovetts, the commercial debt recovery firm, on how the amount of late payment debt is on the increase.
As part of its annual Small Business Income Index, news from Barclays of further evidence that the economy is showing signs of growth with a number of sectors and UK regions standing out.

Raising equity through crowdfunding continues to grow in popularity and Rob looks at an overview from Crowdcube on how it performed in 2014.

And in the Business Finance Tip of the Week Rob shares his thoughts on the importance of having sound systems and processes in place; getting this right may reduce the amount of finance you may need to raise.

You can also listen to the podcast version of this week’s Bulletin. You can download a copy for listening later by clicking below.

Business Finance Bulletin No 56: Planning for Business Growth and Sources of Finance

Posted on: January 9th, 2015 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In the first edition of 2015 Rob Warlow looks at reports of strong business confidence levels and the desire to grow amongst many businesses. However, there are some facing a more challenging environment with three key barriers to growth being blamed.

Of those businesses looking for finance Rob reviews a survey carried out by the Institute of Directors which lists the sources of finance that business owners are turning to.

When it comes to lending to small businesses news from the High Street banks has been bleak but as Rob reveals, the latest figures from the Bank of England show positive growth for two months in a row, which is a positive sign.

And in the Business Finance Tip of the Week Rob shares two key questions you ask of yourself and your team when planning for a year of growth.

If you prefer to listen to this week’s bulletin on your phone or in your car you can download the podcast version by visiting our SoundCloud page.

Business Finance Bulletin No 55: Business Confidence, Credit Scores & Crowdfunding a Moon Mission

Posted on: December 19th, 2014 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In the latest Business Finance Bulletin Rob Warlow reviews a recent survey carried out by the Federation of Small Businesses which looked into SME confidence levels and barriers to business growth.

Many businesses don’t realise how important a clean credit record is when it comes to raising business finance. To counter this, credit reference agency Experian has launched a new support tool which Rob takes a look at.

Crowdfunding has clearly taken off with a recent successful raise for a project to drill on the moon! Rob takes a look at how the Lunar Mission One has successfully raised its first tranche of funding on Kickstarter.

In the Business Finance Tip of the Week, as part of an interview Rob shares his thoughts on the role a business owner’s experience has when it comes to the bank assessing your request for a business loan.

If you prefer to listen to this week’s edition as a podcast you can download it from our Souncloud page or click below to listen.

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