Many people think that invoice finance companies are not able to fund the retail sector, shops etc. However, some of them are. There are specialist retailer finance products that provide finance against your credit/debit card machine takings, based on your history of trade. This can release a cash injection into your business to use for any purpose.
For more details: Shop finance
Very much looking forward to the 1066 Business Awards tonight. Not only is the magazine sponsoring the category of “Best Employer of the Year” but FundInvoice are also finalists for “Best Small Business of the Year”. This is the second year running that we have been finalists, which is an achievement in itself for us.
It should be an interesting evening!
Really pleased to be nominated as Finalists in the 1066 Business Awards again this year. This time we are in the category of Best Small Business 2016.
Looking forward to the awards presentation dinner, later this month, at Bannatyne’s Hotel.
We now have a help area for recruiters on the site.
It has help regarding funding options that are available, credit control support and payroll outsourcing. We have included a number of case studies explaining how we have helped staff agencies in the past, and we will be adding the findings from our survey of local recruiters to that page as we release them.
FundingVoice magazine are proud to be sponsoring one of the 1066 Business Awards this year. We will be sponsoring the award for “Employer of the Year 2016″, which recognises local businesses as outstanding employers.
FundInvoice were lucky enough to be nominated as Finalists, in another category, last year and after attending the awards dinner we were really impressed with how this event recognised achievements within our local community.
The next edition of FundingVoice magazine is out tomorrow.
Our new article about payment delays in the local recruitment sector, shows that more than half of them want to get paid faster. Late payments seem to be creeping into all sectors, even those with historically short payment cycles. Other research that we conducted showed that 87% of existing receivables financing clients thought that greater use of the products would improve the UK’s late payment culture.
Our latest research study focuses on local recruitment businesses in East Sussex and Kent. The survey has now been completed and I am analysing the results. I will start to share them shortly.
We had an interesting meeting with a trade finance company today. They serve the more credit worthy end of the market, but do so without any security whatsoever i.e. no personal guarantees or other security required. This means that it will not affect your other borrowing facilities. In addition to the normal funding of imports, they can also provide a trade facility for transactions within the UK. So you could use it to pay your UK suppliers (one or many suppliers e.g. for transport, rent etc.). The pricing was based on a flat fee per month, so the cost is very simple. More details to follow.
We have just had a meeting with one of our funding partners and we discussed a situation where an interim finance director joined a firm and then advised the business to move to an alternative invoice finance provider. The interest thing about the advice was that the new provider was a newly established business, one that we know well, but it made me wonder why they would be recommended over and above all the various options that are available.
It caused me to revisit a piece of research that we did regarding accountants, where we found that, on average, accountants deal with only 2 different invoice finance providers. This gives them a very limited scope when recommending sales finance to their clients, and it is not likely to be what could be called independent advice, more driven by the limited range of providers that they deal with.
FundInvoice has researched the entire marketplace, both in terms of service delivery and pricing so if you want truly independent advice please get in touch.
We have just helped a client who had problems with the online factoring system that his existing factoring company were using and also wanted an improvement in the collections service. You might not think there would be much to choose between systems but they can differ and we are aware of there having been problems in some cases. Customers never realise how important it is to choose the right factoring partner – until its too late.