Negative hype and the media can be sometimes blamed for the negative effect on the population and this is true to say when it comes to small to medium businesses and the UK’s economy,
At Select Factoring we realise that the past few years have been incredibly difficult for many. Companies have closed down, thousands have been made redundant, taxes have risen and the public have been living on a budget. Despite this there are some real success stories when it comes to small businesses, start-ups, production and international trade, but these don’t seem to get as much press as the stories of woe.
The Interface Financial Group (IFG) is one of the worlds biggest financial companies. They offer support to small companies across the globe that are struggling to raise capital to enable them to grow and expand. In research is seems that SMEs are entering 2012 with apprehension, more than last year.
It is quite a sad story, because we know that we can offer support and alternative funding to thousands of SMEs, the difficulty is educating people about our range of services and exactly how they work.
SMEs will still try to gain funding from business accounts and banks, which have been cutting down, as we know, on lending.
Factoring and Invoice Discounting are a way of gaining capital up front. The capital that is held in invoices can be brought forward, rather than having to wait up to 90 days for payment. Compared to loans which not only accru interest but, can be penalised for late payments, Factoring commands a small sum in relation to the amount of money lent to you by a factoring lender and once the money is fully paid from clients, everything is yours. It is your money, the difference is you can get to it quickly and simply