In this edition of the Business Finance Bulletin we look at how the accounting software provider Xero is making access to finance easier by integrating with MarketInvoice, DueCourse and Iwoca. Another step forward for businesses in need of quick access to cash.

Brexit has opened business owner’s minds to the opportunities created via exporting. A new survey by the Federation of Small Businesses has revealed the top 3 export priorities but if you’re new to exporting, where do you go for advice and support. We look at three sources you can tap into.

The deal of a lifetime can present itself but often the opportunity is missed because you can’t arrange finance quick enough. To avoid that happening we have three actions you can take to ensure you are finance-ready.

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 latest SME Finance Monitor Report reveals an interesting insight into small business owner’s current thoughts about borrowing money. In this episode of the Business Finance Bulletin we take a look at feedback from small business owners on their appetite to borrow and funding growth.

Deciding to sit back and self-fund your growth plans, whether intentionally, or because you can’t find finance, comes at a cost. This is the finding from a survey carried out by Aldermore Bank which reveals that business opportunities are being lost because small businesses can’t access the right finance.

Looking for a fast, short term business loan? How about one in 12 minutes? We look at a new lending service launched by Ultimate Finance, the Cash Advance, which promises quick access to short term business finance with minimal fuss.

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.

In this episode of the Business Finance Bulletin we start off by looking at how findings from a new survey reveal that business owners can be put off borrowing by complicated financial terminology. Are you confused by the jargon lenders use?

It seems some business owners are running for the hills when it comes to planned investments over the next six months. A rapid fall in estimated investment levels indicates that small business owners are being cautious ahead of Brexit.

There are many reasons why your bank can say ‘no’ but when it comes to County Court Judgments, or CCJs as they are commonly referred to, it is difficult to argue your corner. Find out how one business owner unwittingly fell into this trap.

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.

We kick-off this week’s Bulletin by sharing a story from a client meeting this week where the business assumed that there would be no funding for them. We look at how many businesses make this mistake and so inadvertently deny themselves the opportunity to grow.

We have news on how TaxAssist Accountants have formed an alliance with Ratesetter, the peer-to-peer lender, to offer clients immediate access to a quick source of working capital and growth finance.

To close the Bulletin, we take our monthly look at how banks are supporting SMEs in terms of loans outstanding. The latest figures from the Bank of England indicate early signs of a shift in attitude amongst small businesses towards borrowing.

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.

Whilst small businesses can sometimes beat the bigger players in the market, occasionally we can learn a trick or two from them. In this edition of the Business Finance Bulletin, we take a look at strategies being employed by Chief Financial Officers to boost their company’s performance. What tips can you take action on?

How do small business owners view the finance market and their growth prospects? That’s a question posed in the latest Business Finance Survey carried out by the British Business Bank. Not surprisingly, the survey reveals positive news… and less positive expectations when looking ahead.

To close the Bulletin, we share news on a new milestone reached by peer-to-peer lender, Funding Circle, in terms of the amount it has lent to small businesses.

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.

It can be frustrating when you are in desperate need of finance to expand your business and you get a resounding ‘no’ from your bank.

Why have they refused?

Very often it’s a reason which, if you had known about at the start of the process, you could easily have addressed.

The old saying ‘forewarned is forearmed’ is very apt in this case.

In this podcast BLS’s Rob Warlow talks about the 7 reasons why a bank would say ‘no’. Take notes and get yourself prepared for the next encounter with your bank!

In the latest Business Finance Bulletin we start by looking at news from Funding Circle of £40m from the British Business Bank to invest in business loans alongside private investors. In addition to this there’s news of £82 million raised to support Funding Circle’s growth plans.

How hungry are small businesses to borrow money in 2017? That’s a question posed by Zurich in their latest SME Risk Index survey. Are businesses looking to borrow more or less than in 2016?

To close, we take a look at separate findings from the Federation of Small Businesses and Smith and Williamson on how confident small business owners are entering 2017. It’s clear that many are choosing to ignore any gloomy economic messages.

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.

We start this latest Business Finance Bulletin by reviewing the launch of a new mobile banking service from Barclays which will allow its small business clients to apply for finance and, if accepted, receive funds within one hour.

We take our regular look at what the High Street banks are doing in terms of money lent out to business according to the latest statistics released by the Bank of England.

Family and friends are a popular source of finance amongst business owners mainly because of the ease with which funds can be accessed. However, new research has revealed how failure to pay back can cause relationships to breakdown. But to save the day we have details of a new Peer to Peer platform which can step in to ease the tension.

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.

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.

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

A 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.

• If March is your Financial Year-End, then your Corporation Tax will be due by the end of December
• This quarter could coincide with your VAT payment period
• And if that’s not enough, you may be faced with a fall in sales and hence reduced cashflow, associated with the holiday period

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.

But 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!