Should You Share Financial Information With Your Staff?
If you are looking to improve profits, should you share your financial information with your staff? BLS’s Rob Warlow explains why you should.
Raising finance to grow your business is not about today, it is about tomorrow. The right finance package can be a positive force within your business, one which can be used to propel your business forward.
Building a bigger, better future… that’s what we do
When you’re looking for finance to grow, a lender will want to see a well constructed Business Plan. A great Plan sets out a clear vision for the future, a future in which you soar above your competition.
Helping business owners soar… that’s what we do.
The whole process of raising finance can be a distraction and divert your attention away from what’s important. With mounting priorities it’s a case of which one has to wait. Typically raising finance is one task that can grind you down.
Making it happen… that’s what we do
No one wants to stay in the same place; it’s boring and monotonous. Growth is much more exciting but getting to the next level takes money and with it a range of financial options to consider.
Taking your business to the next level… that’s what we do
If you are looking to improve profits, should you share your financial information with your staff? BLS’s Rob Warlow explains why you should.
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.
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.
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!
The recent Autumn Statement saw the Chancellor announcing two initiatives to assist growing businesses. In this Business Finance Bulletin, we look at support the Chancellor is giving to boost exports and of the additional funding granted to the British Business Bank for businesses in search of equity finance.
New research carried out by Axa Business Insurance reveals that small businesses remain relatively buoyant in 2016 but as we discuss, 2017 looks less certain.
We are seeing more finance schemes designed to get funding to businesses in certain geographical areas. In this Bulletin, we look at an announcement from Market Invoice of its tie up with the Leeds City Region Enterprise Partnership which will see up to £2 million available to Leeds-based business via invoice discounting.
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 bank lending to businesses is slowly on the up, in this Business Finance Bulletin we look at the latest statistics from the Finance and Leasing Association which reveal that the Asset Finance sector is on a roll.
Carrying too much stock can tie up cashflow which can be better employed within the business. We look at research from the Asset Based Finance Association which highlights exactly how much cash SMEs have invested in unsold stock.
Another drain on cashflow is of course late payment. A new report from the Federation of Small Businesses is calling for more action on tackling the late payment endemic.
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.
As the Business Growth Fund celebrates its 5th birthday, in this episode of the Business Finance Bulletin, we look at the level of support it has been giving growing businesses in need of finance.
Late payment affects many small businesses, but a new report from Ormsby Street sheds light on which business is the worst late payer out of all the High Street retailers. If you supply this business, then you need to manage your cashflow very carefully.
Staying with cashflow, we look why actively planning your cashflow requirements is important, especially with the year-end approaching.
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 Business Finance Bulletin, we take a look at the annual ‘Where are They Now?’ report, which analyses the equity crowdfunding industry and how it has performed over the last 12 months. The report findings suggest reduced activity amongst market leaders providing this source of finance.
Growing businesses can benefit from professional advice particularly when it comes to raising finance. A new report from Close Bros reveals that many small businesses feel they are being short-changed by their bank when it comes to crucial advice on funding.
With the economy having taken a number of shocks, according to Hitachi Capital Invoice Finance, businesses are starting to question their investment plans over the next 12 months. We ask how will this affect you and what actions can you take?
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.
After 18 months in the planning the government’s Bank Referral Scheme has been launched. In this episode of the Business Finance Bulletin we look at how the scheme is designed to improve small business access to finance.
Despite post-Brexit confidence remaining relatively high we take a look at the latest statistics from the Insolvency Service, which reveals an up-tick in the number of businesses going down the insolvency route.
On a more positive note we close the Bulletin looking at news from the Bank of England that bank lending to small businesses continues to rise. We also share news from Crowdcube on how they are supporting a record number of businesses looking to raise finance by selling equity.
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.
Rob delivered a series of 3 workshops aimed at understanding how finance houses look at finance propositions with the aim for us as a team to deliver more of a bespoke offering to our customer base. The training was delivered to a mixture of staff who work with new businesses start-ups and existing established businesses across Mid & South West Wales. Rob delivered the training with an abundance of passion and has really helped my team look at financial propositions in a different light, many thanks again Rob and I look forward to work with you in the near future.
I wanted to thank you for such an insightful, energetic, and entertaining talk at the Kevin Green Wealth event on securing funding and creating a successful plan. It was brilliantly executed and a pleasure to listen to and the ideas I’ve learned are definitely going to help me in going forward.
Hi Rob, it was so interesting and entertaining listening to you at the Kevin Green Wealth Coach Workshop in Reading this weekend! I didnt realise you can find Finance proposals such fun!. Brilliant tips! Thanks.
Rob kindly agreed to attend the recent Pontypridd RFC sponsors networking evening and delivered what can only be described as an excellent talk on 5 Tactics to Boost Your Business and Your Profits. He kept the audience engaged throughout and the feedback from everyone was excellent. Rob is very knowledgeable on business and finance and on top of that is a genuine nice guy. We hope to have him back at a future event and I have no hesitation in recommending Rob’s services.
Further to your recent presentation at LEAD Wales just wanted to say it was very refreshing to see somebody talk passionately and positively about finance, very insightful!