- 17 Mar
Finance For Medical Ventilator Manufacture
Medical ventilators could become in short supply. The Guardian reported (16/03/20), that the Health Department had advised that the NHS had 5,900 ventilators, but could need as many as 20,000 units in order to deal with the peak of the novel coronavirus outbreak in the UK.
This will put a strain on existing producers of ventilation equipment and also on smaller producers of components as they struggle to cope with their own production line, and cash flow issues, as a result of the virus.
Medical Ventilator Production
Medical ventilators are specialist machines used to provide oxygen (O2) to patients with breathing difficulties. These can be critical in assisting victims of novel coronavirus, that go on to develop lung issues and breathing related complications, such as pneumonia.
The Guardian reports that 60 manufacturers have been sent blueprints to make these units at speed, as Boris Johnson has called on British industry to help the Government prepare for a surge in COVID-19 cases.
The Government have targeted big firms such as Rolls-Royce, Airbus and Jaguar Land Rover, to assist with this task, although businesses generally are being asked to become involved with the design, procurement, assembly, testing and shipping of components and services related to the production of medical ventilators.
Specialist Manufacture Versus Switching Production
However Penlon, the medical devices maker, apparently told BBC News that they believed that the idea of other sectors switching production to production of ventilators was unrealistic. Penlon manufacture 750 units each year and apparently say that they could double production giving time. They believe that the focus should be on enabling existing medical devices manufacturers to increase supply, rather than looking for other sectors to switch production.
Breas, the UK's only specialist maker of ventilators for intensive care units, have apparently moved to 7 day working arrangements to support the effort. Their "Nippy" ventilators are apparently widely used within the NHS.
There are also reports of marine equipment manufacturers looking at the potential to switch from the production of underwater breathing equipment, to production of ventilator components and equipment.
Help With Cash Flow When Increasing Production
It is a priority for the UK to ramp up and increase production as quickly as possible. This rate of growth is likely to put a strain on the cash flow of companies that are involved with both the primary production, and also the manufacturers of components that are required to support the effort.
We are ready to do our part to find the finance required to keep the cash flowing for the businesses that are ramping up production or are switching production, in order to support the effort to produce more ventilators for the UK. Invoice finance, factoring and other forms of business finance can be arranged in very short timescales to help manufacturers. We also have funders on our panel that can extend new customers finance without the need for face to face visits, in the even of a full UK lock down.
We have already been approached regarding the surge in demand for services relating to efforts to combat coronavirus. Please contact us on 03330 113622 if you also need cash flow help to cope with increased demand.
- 09 Jul
Why Use Factoring To Fund Business Growth?
One would imagine that the goal of any business he is to achieve growth, although in the current environment of uncertainty over the economic impact of Brexit, it is clear that many businesses are holding back on their ambitions, awaiting greater certainty.However, thankfully for the UK economy, there continue to be a good number of businesses that are pursuing a growth strategy, regardless of...
- 01 Mar
Free Guide How To Grow Your Business
There are a lot of business growth related resources on our site, so in this post I have pulled together links to all the help and support that you will find, if you are seeking ideas about how to grow and expand your business.With some 47% of SMEs expecting to grow this year, there is some degree of confidence within the UK, despite all the uncertainties. These resources may give you some...
- 05 Feb
Strategies For Business Growth
Most business owners are interested in strategies for business growth, as they want to increase their sales turnover and to boost their profitablity. Turnover growth doesn't always result in an increase in profits, but with careful control of your costs it is likely to increase your profits.GET MARKETING HELPFor the purpose of this article I have put aside constraints such as having enough...
- 27 Dec
Growth Finance For 2019
2019 is just around that corner, and the run up to the New Year is always a good time to take stock of last year's performance, and make your plans for the next year. Growth is an expectation for almost half of UK SMEs.CHECK THE COST OF GROWTH FINANCEThe Q2 2018 SME Monitor from BDRC showed that 41% of businesses said they had grown over the last year, increasing with size from 39% of those with...
- 13 Aug
Cash Flow Finance
Cash flow finance is a term that can encompass all the invoice finance products and also some business loans. Even an overdraft might fall under that category. Pretty much any finance that is for working capital purposes i.e. not to buy an asset, could be included under this banner.APPLY FOR CASH FLOW FINANCEI thought I would check how easy it is for a company to find cash flow finance quotes...
- 06 Aug
Research Suggests Need For External Business Finance Among Growing Businesses
Interesting to read the London School of Business and Finance, quoting research by Wesleyan Bank, that apparently showed some confident growth prospects, and and appetite for external business finance amongst UK businesses.The research across 500 business owners of SMEs showed that over 50% now have more confidence in the growth prospects for their company than they did last year. In addition,...
- 03 Aug
Base Rate Increases To 0.75 Percent
Yesterday, 2nd August 2018, the Bank of England (BOE) announced its decision to increase bank rate to 0.75%, according to BBC reports. A rise of 0.25%, and only the second rise in the last decade. This marks the highest base interest rate since March 2009. There will be a whole generation in the UK that have never known interest rates to be the heady 5 to 15% levels that some of us remember...
- 08 Apr
UK Finance 2017 Statistics Indicate High Growth Business Users
UK Finance, who recently absorbed the industry body formerly known as the ABFA, have just reported on their year-end statistics for 2017, for the invoice finance and asset based lending market amongst their members.It is important to note that not all invoice finance companies are members of the UK Finance industry body, however the figures do represent a large proportion of the UK market.The...
- 19 Mar
How To Finance A Large Order
The feeling when you win a large order, or contract, can be amazing. However, the euphoria can be short lived as large sales often bring with them a number of potential problems, not least of which may be how to finance a large order.The first issue is that your resources may have to be focused on delivering against that large order. This can take your focus away from dealing with smaller...
- 18 Oct
Using Invoice Finance As Acquisition Finance
Acquisition finance can be required if you are acquiring a business, in order to pay the purchase price.The acquisition may be structured in a number of different ways. The whole of the business may be acquired e.g. by purchasing the shares of an existing company, which effectively means that the buyer acquires all the assets and the liabilities of the target company. Alternatively, the buyer may...
- 16 Oct
Marketing Ideas To Grow Your Business
This post follows on from yesterday's post about Growing The Success Of Your Business, I have noted below a few more marketing ideas to grow your business that you might find helpful. None of them are rocket science - in most cases it's just a case of putting in some effort, but in the right direction. So many businesses use a scatter gun approach to marketing which can waste your resources and...
- 15 Oct
Growing The Success Of Your Business
As a business owner the growing success of your business is likley to be something that you focus a lot of your time on - but you may also be on the look out for new ideas about how to achieve that. Below we have put together a few suggestions that might help you if you are trying to grow your business. They are not meant to be comprehensive but it will hopefully offer a few ideas that you might...
- 04 Oct
Using Invoice Finance To Fund Growth
UK businesses seem to be experiencing some growth and this is likely to create cash flow pressures that can be alleviated by using invoice finance to fund business growth.Recent results from the Bibby Financial Services Global Business Monitor survey showed that 49% of the businesses surveyed had grown their turnover during the last 12 months and 55% were expecting to grow over the next 12...