Business Survey reveals Cash Concerns & Businesses Being Paid Later than Last Year
Cash flow is THE major concern for business startups according to survey information from small business invoice finance specialists Ashley Commercial Finance. This continues once the business is on its feet as the main concern, but only for 21% of businesses as opposed to 45% on startup, as issues like staff retention gain in importance*.
The survey also questioned about payment terms finding that over 50% of businesses are not being paid on time and in all cases where payment performance differs from the previous years, the situation is now worse. Cash flow for businesses is really being squeezed.
Ends – 97 words
- When questioned about startup concerns, other factors given included premises issues, health & safety, insurance and for haulage companies, fuel costs. Additional concerns after startup were controlling growth at a sensible pace, late payers, and for the hauliers fuel prices and the national shortage of HGV drivers .
Photo available on request from http://www.marketingprojects.co.uk/admin/clients/ashley-commercial-finance/articles/how-to-save-money-and-get-paid-wind-rain-or-shine-2/edit Survey Information. Approximately 1,300 businesses across the UK were contacted in September by phone and asked to assist in supplying information about their business. The sample comprised businesses across the UK with a turnover of between £200k and £6million. A cross section of industry sectors were chosen, particularly plastics, haulage, recruitment, print/packaging & office supplies. Businesses were from England, Wales and Scotland, predominantly the NW, NE, Scotland and the South (below Birmingham). Over 260 responses were gained. Data can be split between regions.
Ashley Commercial Finance is a truly independent invoice factoring company, with no ties to banks or other financial institutions. Ashley provides invoice finance for the smaller business (including start ups and turnarounds) across England and Wales. Ashley has offices in Manchester, London, Leeds and Bristol. The company has almost 200 clients with turnovers between £50,000 and £1.5 million. They range from printers to road haulage companies, recruitment agencies to taxi firms, recycling companies to IT organisations.
Ashley provides ongoing finance for a business at up to 90% of the value of a client’s sales ledger, which, coupled with professional credit control makes invoice finance an attractive option for a growing business and a smarter alternative to an overdraft. As the facility is based on a percentage of turnover, the funding available grows with the business. Ashley’s independence and lack of bureaucracy means that funding can be in place for new clients to draw down within 24 hours of receiving sales invoices and at the lowest minimum fee. Full Online Account Access enables clients to obtain account information 24 hours a day.
Unlike many other invoice finance companies, Ashley allows clients to choose which accounts they factor, thus avoiding paying unnecessary factoring fees.
In response to client demand, Ashley launched an asset finance facility in June 2005. This is available for anything from computers, telephone systems and office equipment, through to company vehicles, yellow plant and machinery.
There is a great step by step ‘Guide to Invoice Finance’, a guide to ‘Being Paid on Time’ and more information about the company at www.ashleyfinance.co.uk
Ashley Commercial Finance is a patron of the National Association of Commercial Finance Brokers (NACFB).
Return to Ashley Commercial Finance listings
> Return to Client Press Office
