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• 18 Feb

  

  

  Can I Access Invoice Finance With CCJs?

  Analytical software allows you to see exactly how people are finding your website, and which search terms they are using. I just noticed a repeated search phrase being used "can I access invoice finance with CCJs?". It would make sense as you are most likely to need funding support if you are under creditor pressure and you have ended up being taken to court by a supplier.A CCJ is a "County...

  By Glenn Blackman
• 15 Feb

  

  

  Saving The Annual Salary Of A Credit Controller

  According to figures published by Payscale, the average salary of a UK credit controller is now almost £21K per annum, with additional bonuses and commission averaging a further £6.5K, excluding employers national insurance, and any pension contributions you have to make (currently a minimum of 2% of earnings).DISCUSS OUTSOURCING OR FACTORINGAt the top end of the pay scale, the basic salaries...

  By Glenn Blackman
• 14 Feb

  

  

  Using Early Payment Discounts To Improve Cash Flow

  Recently, we received an enquiry from a prospective customer seeking selective invoice finance. They were having a temporary cash flow problem, but they had two invoices totalling £5K that they said they wanted to discount in order to access the cash tied up in those invoices, immediately.Selective invoice finance would seem to be the perfect solution, as there would be no obligation for them to...

  By Glenn Blackman
• 13 Feb

  

  

  Ultimate Finance Appoints New CEO

  Josh Levy has been appointed as CEO at Ultimate Finance Group (UFG), replacing Ron Robson, who has been CEO since 2015. The Ultimate Finance blog announced the appointment in a post dated 11/02/19 which confirms that Josh has, for the last year, worked alongside Ron Robson on the strategy for growing the business.A quick look at Josh's LinkedIn profile shows that he holds an MSc in Corporate...

  By Glenn Blackman
• 11 Feb

  

  

  Sancus Finance Supply Chain Finance To Shutdown

  Reports from StockMarketWire and Morningstar suggest that GLI Finance have taken the decision to shutdown their Supply Chain Finance division, Sancus Finance Ltd, as performance fell short of expectations, with a forecast operating loss of £1M.Performance was apparently impacted by a £1.1M exposure to a supply chain finance borrower, which recently went into Administration. The group prudently...

  By Glenn Blackman
• 07 Feb

  

  

  Early Stage Funding For UK Startups Drops

  Early stage funding for UK startups dropped by 15% in 2018, according to data published in Yahoo Finance by Beauhurst, a consultancy that track equity funding. Overall equity funding in the UK reduced to £7Bn in 2018, down from £8.6Bn in 2017 and there was a 10% decline in the number of deals completed. This is a concerning drop that may create a need for alternative forms of startup...

  By Glenn Blackman
• 06 Feb

  

  

  Who Is The Best Invoice Finance Company?

  Thinking about using invoice finance or factoring? An obvious place to start would be a google search, perhaps something like "best invoice finance company". Simple and likely to generate a simple answer? You may think so but the result is likely to be more misleading than helpful.Our latest count revealed that there are 100 separate organisations providing invoice finance in the UK. The honest...

  By Glenn Blackman
• 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...

  By Glenn Blackman
• 04 Feb

  

  

  Ban On Assignment Has Been Outlawed

  Receivables financing in the UK has taken a step forward as The Business Contract Terms (Assignment of Receivables) Regulations 2018 No. 1254 has come into effect in the UK, I previously wrote about the proposed legislatory change back in the summer. It will apply to qualifying contracts entered into on or after the 31st December 2018.The new legislation makes null the effect of "ban on...

  By Glenn Blackman
• 01 Feb

  

  

  January 2019 FundingVoice Magazine Is Online

  The January 2019 edition of FundingVoice magazine is now available online.READ THIS AND OTHER BACK ISSUESThe first edition of 2019 has several articles more than normal - we always have so many different stories its hard to select just a handful.This time its a mixture of rumours and news from some well known invoice finance companies and some specific help for manufacturers and construction...

  By Glenn Blackman
• 29 Jan

  

  

  Credit To Pay For Raw Materials

  Persuading suppliers to provide you with a sufficiently large enough trade credit to allow you to source all the raw materials that you need can be difficult. We have come across situations where manufacturers end up having to phone around suppliers in order to purchase the supplies that they need. This is why many manufacturing companies turn to invoice funding as a solution.If you are unable...

  By Glenn Blackman
• 28 Jan

  

  

  Has Your Factoring Facility Been Reduced?

  Worrying comment on one of my posts, about bad factoring service, from a colleague at one of our funding partners. They have apparently been approached by an advisor whose client has had their factoring facility reduced 25%, by the factoring company that the client is currently using.SEE WHO CAN OFFER IMPROVED TERMSIt may be a one off change to a single client's facility, however the comment...

  By Glenn Blackman
• 24 Jan

  

  

  Nucleus Commercial Finance Breaks GBP 1 Billion Lending Target

  Nucleus Commercial Finance have broken through their lending target of £1 billion. A quick visit to their site (as at 23/01/19) showed total lending to have reached £1,011,652,237 - a huge growth curve since their inception in 2011.READ MORE ABOUT NUCLEUSBack in 2011 Nucleus launched with just 3 employees, growing to a global team of 125+ today, having 5 awards to their credit, and a portfolio...

  By Glenn Blackman
• 23 Jan

  

  

  This Is The Last Chance To Help Us

  Glenn and Sean from FundInvoice LLP need your help.The window of opportunity to provide a testimonial about FundInvoice is about to close tomorrow. We need your testimonial to help us win Broker of the Year in the Business Moneyfacts awards. The ability to provide testimonials is set to close this week. The form to provide testimonials will only be available until midnight on Friday 25th January...

  By Glenn Blackman
• 22 Jan

  

  

  Marketinvoice Secures GBP56M of Debt & Equity Funding

  Marketinvoice, the invoice finance and business loan platform has reportedly secured a further £56 million in debt and equity funding. Reports in Business Money and Finextra suggest that the funding is going to be used to expand Marketinvoice's UK market presence and to launch further fintech-bank partnerships (following their recent fintech partnership with Barclays).MORE ABOUT...

  By Glenn Blackman
• 21 Jan

  

  

  Are You Getting Bad Service From Your Factoring Company?

  Factoring service levels are generally very good, as evidenced by our research finding that 98% of businesses using invoice finance, that we surveyed were, said that they would recommend their provider. That leaves the 2% that are not prepared to recommend their existing provider, which includes those receiving a bad service, or poor quality service levels from their existing factoring company....

  By Glenn Blackman
• 18 Jan

  

  

  Late Payment Problem?

  Battling with a late payment problem? You might feel like you are all alone by recent research from Close Brothers Invoice Finance suggests that is not the case. It suggests that many other UK SMEs are being affected by slow payments, and this has been highlighted by several sources of independent research.Their poll found that 42.8% of SMEs say that late payments are a problem for their...

  By Glenn Blackman
• 16 Jan

  

  

  How Does Invoice Finance For Car Crash Repairs Work?

  Increasingly we have seen car repair body shops turning to invoice finance to fund their crash repair invoices. We have literally just been contacted by another small garage turning over £100K per annum, trading with a small number of insurance company debtors with a handful of invoices they want to be funded against. This is type of funding is very straightforward to arrange, such that it can...

  By Glenn Blackman
• 15 Jan

  

  

  Solutions To Late Payments From Customers

  Late payments are still causing cash flow problems for UK SMEs.An email just received from one of our new funding partners, My Muse, was headed "48% of SMEs impacted by late payments". It goes on to quote some recent Dun & Bradstreet research that has revealed that the average amount owed in late payments has increased by almost 25% over the last year to an average of over £80K. Within this...

  By Glenn Blackman
• 14 Jan

  

  

  How Does Factoring Improve Your Cash Flow?

  Improving cash flow can be a major dilemma for a business. Often money is just not being received fast enough to meet your outgoings in a timely manner.The effects of having poor cash flow may include:If you cash flow gets too bad, creditors such as trade creditors (that you purchase supplies from) or HMRC could end up taking legal action against you, and that could lead to your business...

  By Glenn Blackman