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Stimulating the economy

The Bank Of Enlgand amnouced today, its plans to inject more cash to stimulate the countires economy. The last time this was sactioned was 2009.

It was quite a surprise to hear that 75 billion pounds are going to be put back to up the anti.  It’s clear that the boys and girls at the top are quite worried about the state of the economy and the back lash from the Eurozone crisis.

This injection hopes to allow banks to start lending again, although against stringent rules.

Another point that has been recognised is that consumer spending has hit an all time low this quarter. Businesses such as Restaurants and hotels have been doing pretty well, possibly due to special offers and ways of getting customers in. Also most brits have been holidaying and spending time in the UK rather than splashing their cash jetting off to the sun.

It’s all great news isn’t it, despite the news fromt the Bank of England today, which will give hope to people such as small businesses, its all very much the same.

Those who can’t wait to get into the bank to sign up for a loan, should know about the alternative lending available to them. Yes there are other options rather than taking out a loan which could take years to pay back and incur interest.

Some of the options use money that companies already have tied up in invoices.

You may have heard of Factoring before, you may not have heard from factoring, it is possibly one of the fasted growing and simplest way of gaining funds through the capital tied up within invoices you hold that need to be sent to cleints and paid.

This money can be gained in advance rather than waiting days for payment. If you think you would benefit from this process, speak to us at Select Factoring.

 

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