Call us: 03330 113622

Blog home
Categories
Popular Posts
Recent Posts
Archive

• 22 Aug

  Financial Help Through The Cost Of Living Crisis And Any Recession

  

  Recession fears and the cost of living crisis are hitting the headlines at the moment. Interest rates have been on the rise to counter soaring inflation. That in turn has been attributed to increased fuel costs, disruption due to the war in Ukraine and global supply chain problems.

  Financial Help

  Many small businesses are struggling and UK companies may be in need of additional financial help through the cost of living crisis and any recession that the UK may face.

  Energy Crisis

  Issues such as the energy price crisis have still not fully taken effect. It's only when winter arrives that people and businesses will start to turn on their heating and see their bills increase even further, driven by rises in the energy pricing caps that are set to increase. This is likely to place further stress on the UK economy and that will affect UK businesses.

  Financial Help Through The Cost Of Living Crisis

  Arranging business financing is the primary contribution that we can make to support companies through this crisis. However, there are a variety of resources on our site that may also be helpful. This post aims to pull together some of the information on our site that will be useful to struggling businesses. This includes a number of useful guides to help you in difficult times

  • Cash flow support - details of how to boost your cash flow
    
    
  • Turnaround ideas if you are trying to rescue your company
    
    
  • Business finance for companies with poor financials or adverse credit history
    
    
  • Credit control guidance and support to get debts paid on time
    
    
  • Protection against bad debts protects against losses should a customer fail

  Cash Flow Support

  Good cash flow is going to become more and more important as businesses start to feel the pinch due to the current economic climate. There are many ways to boost your company's cash flow which you can start to implement immediately. We have put together a comprehensive guide to boosting cash flow that you can download for free.

  Increasing the flow of cash through your business can involve speeding up payments from your debtors. You should also take a look at our credit control guide which gives some helpful tips to speed up the collection of your outstanding customer payments.

  Turnaround Help

  If your business is in serious financial problems, perhaps facing insolvency, you need to consult a licenced insolvency practitioner. If you are not quite at that point there may still be a chance that you can turn your situation around and that is where FundInvoice LLP may be able to play a role in helping you find any funding that you need to support your goals. We have also put together a free business turnaround guide that has lots of our ideas that may help you improve your situation.

  Business Financing That's Still Available

  Despite the UK economy undergoing difficult times, there are still sources of business financing available at the present time. For instance, receivables finance. This is unlike other forms of funding where the strength of your company is the primary concern. With receivables finance, it's the strength of your debtor book that supports the finance. This means that it can be provided to companies with a poor credit history or even those with historic CCJs.

  Protection Against Bad Debts

  Lastly, you might want to look at ways to protect yourself from the impact of taking a bad debt. If you use any form of invoice financing, there may be bad debt protection options that can be bolted on. These can provide an element of protection should a customer fail without paying your invoices.

  By Glenn Blackman