A staggering 90% of SMEs are carrying the burden of unpaid invoices for goods and services carried out before lockdown whilst trying to manage cashflow and working capital as they look to recover from the COVID pandemic. According to recent research, UK businesses are owed £133b.
FACT: 81% of SMEs are waiting longer than usual to have their invoices settled
Is your SME one?
SMEs are owed an average of £148k in unpaid pre-lockdown invoices.
With cashflow already heavily exhausted by lockdown pressures, many businesses are struggling to find cashflow to invest in stock, supplies and production costs in order to reopen as the UK prepares its recovery.
FACT: Read on for the solution to your unpaid invoices that sees payment within 24hrs
That’s why more businesses than ever are looking to invoice finance to help them through the COVID cashflow recovery. Invoice finance is the UK’s most popular form of alternative finance, with more than 44k UK businesses using an invoice finance facility (also referred to as invoice factoring) to ensure a robust cashflow by allowing a business to secure cash against their invoices within 24 hours of them being raised.
All industry sectors are enjoying the benefits of invoice finance – media, recruitment, construction and manufacturing in particular finding the facility superbly suits their business finance needs, even releasing cash on part billed goods and services.
Invoice finance is a simple and cost effective solution to late paying customers, ensuring cashflow and working capital.
FACT: Benefits of invoice finance include...
Up to 90% paid on each issued invoice
Paid within 24hours
Balance paid when invoice settled by client
Inclusive of back office credit control team should you require it
A fifth of SMEs are optimistic about their recovery, citing that they expect their turnover to increase by 20-50% within the next 3-5 months. This is excellent news as the UK hits back at the virus to gain control of the economy. So let us help you with your COVID cashflow recovery by arranging an invoice finance facility.
As an expert witness in alternative finance and a champion of invoice finance in the UK market for over 27 years, I, Carole Roe, Managing Director and Founder of Capital Corporate Finance, am ideally placed to arrange your invoice finance facility. As an independent broker, I have access to all UK providers – over 50 – and can arrange your facility for you promptly and efficiently. With unrivalled relationships with facility decision makers you could have your facility set up and operational in weeks or even days. Never again will you need to fear chasing late payers.
For more information on how your cashflow can be increased through invoice finance call me directly on 07785 596053 or email firstname.lastname@example.org