Late payment is a continual challenge for small businesses and a recent survey carried out by Zurich lays the blame at the door of the larger businesses. We share the findings of this latest research and what you can do to combat suffering from late payers.

With many people being uncertain about the current performance of the UK economy, one measure of confidence is the amount businesses are borrowing from the banks. I lift the lid on the latest Bank of England bank borrowing figures to see what businesses are up to.

To close this Bulletin, we share some recent experiences which highlight why you need to keep a close eye on your credit file. Lenders place a lot of emphasis on a clean report so it pays to keep your file in order.

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 ‘Voice of Small Business Index’ from the FSB for Quarter 2 to June 2017, shows that only 14 per cent of small firms applied for external finance in the three months to June.

The FSB commented that the low figures are being driven by lower investment intentions and confidence levels on the back of Brexit and economic uncertainty.

The survey comes out on the back of the latest statistics from UK Finance (the finance industy’s trade body) which revealed that bank lending to businesses fell by £698m in July.

However, it’s not all doom and gloom.

Of the 14% of businesses which said they had applied for finance in the three months to June 2017, the share of those successfully getting a ‘yes’ stood at 74% in the quarter, up from the 71% in the same quarter a year ago.

This also compares very favourably to the 54% seen in Q2 2015. So, the more growth-focused businesses are getting what they want.

The survey also shows that the lending landscape continues to evolve with continued evidence of diversification away from traditional bank lending. Among small businesses that had applied for credit, the share applying for bank loans declined from 39% in Q2 2016 to 23% in Q2 2017.

Where are small businesses going for their finance needs?

The survey reveals that the proportion using asset-based finance, such as invoice financing, has doubled from 17% to 34%.

Our message is that if you are in growth mode, there are plenty of finance options out there.

Following on from the first part of “How Do Banks Assess Your Finance Request?”, we now move on to Part 2.

As outlined in Part 1, when applying for business finance, it’s useful to understand what lenders are looking for.

In this second session, we continue our review of the CAMPARI framework which banks follow when reviewing a finance request. We will be sharing the last three elements which focus on the amount you want to borrow, how you’re going to pay it back and how you can reduce the risk the bank is taking.

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.

If you missed the first part of this mini-series you can check out Part One here.

When applying for business finance, it would be useful to understand what lenders are looking for. In this first of videos, I will be sharing a framework which guides banks when assessing a finance request. Understanding the framework, referred to as CAMPARI, means you can be better prepared when presenting your request.

In Part One, I reveal the first four elements of CAMPARI.

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 Part 2 we continue our look at the CAMPARI framework – check out Part 2 here.

For more information on short term business loans and whether it can work for you, simply contact us for a no-obligation chat.

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.