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.