This episode of the Business Finance Bulletin is a late payment and cashflow fest. Poor cashflow and management of late payment is one of the biggest barriers facing small business owners when it comes to planning for growth.

In this episode Rob Warlow looks at the latest research from Lloyds Bank Commercial Finance which uncovers the extent of the amount of cash trapped in overdue payments.

But what’s the solution to this problem?

The first way out Rob looks at is a new crowdfunding invoice discounter which can unlock cash so releasing much needed working capital to fund growth.

The second service is a new innovative support platform launched by a business owner who suffered from the effects of late payment. The service provides guidance and tools designed to ensure prompt payment by your suppliers. Could this work for you?

In the Business Finance Tip of the Week Rob gives some tips on writing a one-page Business Plan.

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 weekly Business Finance Bulletin Rob Warlow examines current trends in late payment with news from the Asset Based Finance Association that despite improving economic conditions late payment problems are on the rise.

Continuing on the theme of late payment online accounting provider Crunch has identified within the world of self employment which businesses are best and worst when it comes to chasing payment. Are you one of them?

Locally run business loan funds are a useful source of alternative finance for smaller businesses and Rob looks at one fund run by Staffordshire County Council and the success it has had in supporting local businesses.

In the crowdfunding world Rob shares news from Market Invoice, the online invoice discounting solution, of another round of funding granted to it by the British Business Bank.

Despite a few hiccups lately in terms of growth and business confidence Rob looks at the findings of a survey from American Express Small Business Services which reveals that businesses are reporting strong growth and confidence for the future.

And in the Business Finance Tip of the Week a clip from an interview in which Rob talks about the typical cash contribution you have make to a deal to get your bank on board.

You can also listen to this week’s episode or download to listen to late via clicking below, or by visiting our Soundcloud or itunes channels.

In this latest episode of the Business Finance Bulletin Rob Warlow looks at an appeal from the CBI for the government to help medium-sized business access long term loans by introducing a number of new initiatives.

Rob shares findings from a new report which suggests that banks are now feeling under threat from the growing band of alternative finance providers with the solution being if you can’t beat them then join them!

To combat struggles that small businesses have in accessing invoice discounting facilities Rob has news about moves by the government to make it easier for businesses to release cash from outstanding invoices. Continuing the theme
of late payment Rob also outlines a useful service which can speed up payments due.

And in the Business Finance Tip of the Week Rob talks about why you need to think about the security you are prepared to offer your bank.

If you prefer to listen to the podcast version of this episode by either clicking below or downloading below via our SoundCloud page or on our itunes channel.

In the latest Business Finance Bulletin episode Rob Warlow looks at news from the Asset Based Finance Association on how asset finance business is booming.

If you are looking to purchase plant and equipment via Asset Finance Rob discusses the emergence of a relatively new provider in the market, Secure Trust Bank.

If you purchase goods from China and struggle to find the cash up front then Rob has news of a tie up between Alibaba, the Chinese online portal, and Ezbob and IWOCA, providers of short-term finance.

In the Business Finance Tip of the Week Rob shares one of the reasons why banks say no. Don’t fall foul of this!

If you would prefer to listen to this week’s episode as a podcast simply click below to listen and download to your PC or phone.

In the latest Business Finance Bulletin Rob Warlow looks at recent surveys from Close Brothers and the government’s Business Innovation and Skills Department on growing confidence levels amongst business owners in the UK.

Rob also looks at the latest figures from the Bank of England on the Funding for Lending Scheme which shows a continued downward slide in support from banks.

Late payment continues to be a problem for growing businesses and Rob looks at how the government is tackling the problem with revisions to the Prompt Payment Code and new rules designed to ensure the public sector pays on time.

In the Business Finance Tip of the Week Rob chats with Market Invoice, the online crowdfunding platform, which helps UK businesses unlock cash tied up in outstanding invoices.

If you would prefer to listen to the podcast version of this week’s Bulletin simply click below or download to your computer or phone.

In the latest Business Finance Bulletin Rob Warlow discusses findings from the latest SME Finance Monitor report on small businesses appetite to borrow. Is it as strong as we think?

One industry sector that does struggle to raise finance is the UK house building trade. Rob shares news of a new fund Santander is putting together to help house builders who need development finance.

During the financial crisis short term business loans have become popular and Rob looks at the news of the takeover by EzBob of Everline. With both companies having lent a combined £54 million the short term business loan industry is set to grow further.

Following a workshop held by Aldermore Bank on Invoice Discounting Rob had a chance to catch up with Richard Whitehouse, Regional Sales Director to hear more about how invoice discounting can help unlock cash to fuel growth.

If you prefer to listen to this edition as a podcast click below or to download it to your phone click the download button.

In the latest Business Finance Bulletin Rob Warlow looks at a survey carried out by the British Business Bank into the SME finance landscape which draws a number of conclusions on how small businesses view the world of finance.

The use of asset based finance continues to grow and Rob shares news from the Asset Based Finance Association on the increased use of invoice discounting and leasing as an alternative source of finance.

In the crowdfunding world, news of a milestone reached by crowdlender Funding Knight and an announcement by Cambridge and Counties Bank of the opening of a new branch in the North of England.

In the Business Finance Tip of the Week Rob shares a conversation he had with a business owner about the use of management information and how to get the best out of it.

You can also listen to this week’s Bulletin as a podcast. To listen via your PC or download to your phone either click below to listen or click the download symbol.

In the latest Business Finance Bulletin Rob Warlow looks at the latest bank lending figures from the Bank of England… a mixture of good news and not such good news!

One finance sector which is booming is the Asset Finance industry and Rob looks at the latest growth figures from the Asset Finance Based Association which are in sharp contrast to that of the High Street banks.

Rob also talks about a new crowdfunding site, CrowdProperty which is looking to match private investors with property developers and Buy-to-Let owners on the hunt for finance. One for you to look at if you are in the property game.

And in the Business Finance Tip of the Week a clip from a live seminar in which Rob shares one question that banks will ask of themselves when reviewing your business finance request.

The rise in the level of support being given by the asset-based finance industry continues to put the banks to shame.

According to the Asset Based Finance Association (ABFA) in the three months to the quarter ended June 2014 asset-based funders (comprising of invoice finance and asset finance providers) lent out a record £18.9 billion to UK businesses.

The figures from the ABFA reveal that the combined amount of invoice finance and asset based lending provided to businesses grew by 7% in the last quarter, from £17.7 billion in March 2014, and 10% in the last year, from £17.3 billion in June 2013.

The ABFA puts the growth down to constraints on traditional lending as well as greater awareness and understanding amongst businesses as to how borrowing against the value of their invoices and other assets can free up cash to invest in growth.

The ABFA reported that 80% of asset based finance is invoice finance, in which businesses secure funding against their unpaid invoices, while the remaining 20% represents asset based lending, in which businesses can raise money secured against a range of other assets they own, including inventory, property and machinery.

Compared to the average fall in bank lending of 3% to 4% per year it’s clear that whilst many businesses may be forced to consider alternative sources of finance the fact that funding sources are now more diverse can only be a positive move.

With the economy beginning to pick there is one barrier to growth that many business owners don’t see until it’s too late and that is lack of cash to fund future growth. Two recent surveys have highlighted the recurring problems UK businesses have when it comes to late payment.

The first survey from Close Brothers reveals that of those businesses experiencing problems due to late payments, 58% said that it impacts on their day-to-day cash flow management with 17% saying it has resulted in them reining in necessary spending. A further 15% say it threatens their ability to trade.

The impact of late payment is not just on poor cashflow but also in terms of the time taken out of the working day to chase up outstanding debts. Close Bros found that 17% of businesses spend more than 10 hours a month chasing late payers.

Despite chasing for payment it can often happen that the debt remains unpaid and findings from Satagom an automated credit control firm have revealed that 40%of firms have written debts off in the past.

As discussed in previous blogs part of the solution the late payment is to ensure there is a system and process in place for chasing bad debts. The Satago survey found that 77% of firms don’t have a person or a procedure in place so making the chasing of late payments even more difficult.

If your growth plans are held back by poor cashflow there are a number of solutions including invoice discounting, factoring, and spot finance which are detailed here – Cashflow Solutions.

Also here is a chat Rob Warlow had with Steve White of Thornbury Collections on steps you can take to avoid late payment.