July 2010

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    Lack Of Sales Is A Big Issue For SME Businesses

    The joint second biggest issue facing SME businesses over the course of the next year was the "lack of sales".This is interesting as with only 22% of respondents stating "lack of sales" as their biggest issue it ranks some way behind the 71% of respondents that stated a cash or cash flow related issue as being their biggest forthcoming issue.Whilst finding sales is obviously an issue, financing...

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    Cash Flow Is The Second Biggest Issue Facing SME Businesses

    In my previous post I mentioned that 49% of SMEs said that the biggest issue facing their business over the course of the next year was having insufficient cash.A further 22% of respondents, the joint second largest category, said that "cash flow" was the biggest issue facing their business over the next year.This means that when combined, 71% of SME businesses see the biggest issue for their...

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    49% Of SME Businesses Expect To Have Insufficient Cash

    In our recent research survey, 49% of the SME businesses that were interviewed said that they expected the biggest challenge facing them this year to be having insufficient cash.This should present a huge opportunity for the invoice finance industry - the need for cash is apparently the biggest issue facing small and medium sized businesses which confirms there is a need for the products that...

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    The Biggest Challenge Facing Businesses This Year

    We recently conducted a poll of 100 SME businesses and one of the questions we asked them was to name the biggest challenge that is facing their business over the course of the next year.The research results were interesting and were published over the next few days on this blog.-----------------------------------------------------These are links to the posts relating to the results of that...

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    Business Development Manager Training Gap In Invoice Finance

    Building on the recent theme of why the factoring industry isn't selling more invoice finance to new clients, I recently had an interesting discussion with a recruitment consultant that specialises in the commercial finance industry and has numerous vacant roles on his books for BDMs (Business Development Managers) the term used for sales people within the factoring industry.The recruitment...

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    How Poor Credit Control Can Lose You Customers

    I have just seen first hand the perfect example of how poorly organised credit control can lose you a customer.We bought some goods from a small local company at the end of last year. The product was excellent and until this morning I have taken every opportunity since to sing their praises and recommend them to other people.Almost 5 months ago now they phoned to say that we hadn't paid their...

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    The Secret To Selling More Invoice Finance Facilities

    I am sure that is a question that many invoice finance companies would like answered!Well, I have had a bash at putting together another article for the next issue of Commercial Finance Today called "The Secret To Selling More Invoice Finance" which attempts to answer that question by setting out what prospective invoice finance customers seem to say they want from invoice finance. I will post a...

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    Updating the List of Factoring Companies in the UK

    I was just in the process of updating the list of factoring companies in the UK on the site and was struck by the number of acquisitions that have taken place over the last few years and the number of new entrants to the market.You can see our List of UK Factoring Companies on the main site....

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    List Of The Best Known Factoring Companies

    As part of our recent research into the factoring market, we asked 100 SME businesses to name the first invoice finance company that they could name. From their responses we compiled the following list of the best known factoring companies:...

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    Getting Innovation, Design & New Inventions to Market

    I have just had a fascinating meeting with someone who has come up with a brilliant, innovative new invention. Like so many inventions it was born of personal necessity but as with so many "inventors" he is stuck at the design stage, faced with either having to trust a business to develop his idea for him or trying to negotiate the complexity, and expense, of patent law himself.There are so many...

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    Symbiotic Versus Parasitic Business Models

    Dictionary.com defines "symbiotic" as "any interdependent or mutually beneficial relationship between two persons, groups, etc."It defines "parasitic" as the behaviour of a parasite, which it goes on to define as: "a person who receives support, advantage, or the like, from another or others without giving any useful or proper return, as one who lives on the hospitality of others."These are...

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    Factoring Options For Small Businesses At Last

    It has been several years since there have been many factoring facilities available to the smallest businesses, for example turning over less than £100,000 per annum, after several factors pulled out of the sector. Many factors have said that they will still support small businesses but they impose such high minimum fees that it prohibits them in practice.The market seems to be changing at last....

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    0% Over Base Rate Funding Gets Most Interest

    When we send out the monthly factoring newsletter we track the number of people that click through on each article. Last month's email newsletter ran 3 different articles and it was the article about funding at 0% over base rate that got the most interest and hence click throughs from interested customers - not unsurprising that people are interested in a cheap deal!...

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    Aston Rothbury & Davenhams

    There has been comment in various media over the last few days regarding a couple of factoring companies namely Aston Rothbury and Davenhams.Firstly it has been reported that Aston Rothbury have entered administration and now there are also reports that Davenham's have ceased to write new business and started to collect in their outstanding loan book.Both these companies previously occupied...

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    Factoring Newsletter - 0% Over Base Funding Offer

    We have just sent out our latest invoice finance newsletter which includes details of a funding offer at 0% over base rate, trade finance for small transactions and figures that support the fact that businesses using invoice finance tend to outperform non users in terms of business growth....

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    Article Published In Commercial Finance Today By Commercial Finance People

    My thanks to Prue Heron at Commercial Finance People for her kind invitation to publish my article "Why Don't More Businesses Use Invoice Finance" in their monthly enewsletter - Commercial Finance Today.Commercial Finance Today is compiled by Commercial Finance People, a long established recruitment consultancy specialising in the Invoice Finance/ABL, Banking, Leasing/Asset Finance and...

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metro bank sme finance
ultimate finance group
nucleus
woodsford tradebridge
castle
igf