Since April 2017, all large companies with a £36 million annual turnover have an obligation to report to the government about their payment practices, which can be accessed by anyone online. Yet, worryingly, a high proportion of these businesses routinely pay suppliers late even with so much cash in the bank. Measly 5% Of Businesses …
The old adage ‘not putting all your eggs in one basket’ is accurate when it comes to business banking. When you obtain any kind of traditional Bank finance for a company overdraft, bank loan, or invoice finance arrangement, the Bank will request a debenture and this is usually supported by a personal guarantee. The reason is …
One of the few positives to emerge from the recession that followed the economic crash was the renewed innovation in business funding. Up until about 10 years ago, if you wanted to borrow cash to grow your business you would have probably gone straight to the bank. To be successful in securing a loan, you …
Invoicing clients and customers is one of the most time-consuming administration tasks most business owners will do. In fact, small business owners can spend up to 10 percent of their time creating, sending and chasing invoices. Nevertheless, invoicing is an essential part of running a business and it must be done in a timely manner …