Alternative Finance: Why should you consider it?
No matter your size, sector or niche, every business’ needs to capital to grow, operate and maintain a reliable supply chain. So as a business owner, it’s up to you to ensure there is a sufficient amount of capital available to achieve your goals at any given time. However, this isn’t always easy to achieve and can even be a frustrating endeavour for established businesses too. Fortunately, the Alternative Finance Industry is opening up doors to the UK lending landscape, providing access to more finance solutions than ever before. But in order to take advantage of the UK’s Alternative Finance industry, it helps to understand what Alternative Finance is and what opportunities are available.
Insolvency or Bankruptcy?
Having nurtured your business from being just an idea or concept, one of your top priorities, no doubt, is safeguarding your success and ensuring a prosperous future. Yet as your business continues to trade, providing goods and/or services, you may encounter periods which could challenge your financial stability. But if the issue persists, it could lead to rising operating costs or a loss of earnings, affecting your ability to stay afloat. If you’re in such a situation or expect to be in the near future, it can be difficult to know which way to turn next, and this is especially true when considering filing for Insolvency or Bankruptcy, which is all too often confused as being one and the same. But if you’re to make an informed decision and choose an appropriate course of action, being able to tell the difference between Insolvency and Bankruptcy is of the utmost importance.
How to assess the health of your business
After every step you take in your journey, reviewing how well your business is performing and assessing what improvements can be made is of the utmost importance. Yet all too often it’s easy to get distracted by your aspirations and overlook the health of your business. But without stable foundations, growing your business before it’s ready could result in your venture collapsing under its own weight. That’s why, before going forward with your growth plans and expanding operations into new areas, a period of self-reflection is required. So if you’re eager to take the next in your journey, here are 6 factors you need to consider when assessing the health your business.
What is Voluntary Insolvency?
By being your own boss, you’re responsible for your own success. But for your vision to succeed, you need passion, dedication and (of course) access to a sufficient amount of capital. Capital is an essential resource. Without it, keeping up with your financial obligations and running day-to-day operations will be a struggle. Yet, unfortunately, this is a situation that many business owners find themselves in, especially during a sustained period of uneven cashflow. But should the situation remain unchallenged, leading to rising debt levels, you could find yourself filing for Voluntary Insolvency. However, before making this decision, it’s crucial that you fully understand what Voluntary Insolvency is and what it means for your business.
Staying afloat with Cashflow Finance
Maintaining a reliable cash flow each month, that supports your bottom and allows enough room for further investment, is crucial to running a successful business in the UK. But on account of the turbulent economic climate, changing customer trends and increased competition, this can feel like quite a tall order. Yet, if your business is to retain a constant rate of growth and achieve a sustainable future for the long-term, staying above your bottom is an absolute must. One way of making sure that your business is able to stay afloat and continue to invest in growth is by applying for Cashflow Finance.
What is insolvency?
Developing a proposal into a thriving business venture at the heart of your local community takes passion, commitment and many hours of hard work. But, for any of it to pay off, staying on top of operating expenses, whilst also having enough funds available to support further investment, is crucial. That’s why, if you’re unable to generate enough capital and settle your financial obligations, it’s absolutely soul destroying for you and your team to hear that your business has become insolvent. But if you’re facing insolvency or expect to do so in the near future, there are steps that you can take - insolvency doesn’t need to be the end of the road.
Which type of Invoice Finance is right for you?
If you are ready to grow your small business or safeguard your cash flow, you might well be looking at Invoice Finance. With Invoice Finance, a funding provider will use your invoices as the security for cash advances. Instead of waiting for your customer to pay you, which can be a major headache if you deal with large corporations, it can mean getting paid as soon as you do the job and issue an invoice. It can avoid a cashflow crisis while you wait weeks or months for a large client to pay, and - by ensuring your cash always keeps pace with work going out - it can help ensure you always have the funds you need to support growth.
How do you look? Creating the right impression for an optician’s business
Whatever your business, creating the right impression is essential. On the high street, appearance is particularly important - because if your business does not create the right impression, people will walk past and call on your competitors instead. Investing in the appearance of your business can be as important as investing in the equipment you use.
Cheers! Funding a growing microbrewery
There has been a revolution in British drinking habits over the last few years. Where a previous generation was content to quench its thirst with lager from industrial brewers, today’s drinker has become much more selective. He or she has tried and rejected the offerings of the big brewers and is choosing, instead, to enjoy the new breed of craft beers.
Sole Trader or Limited Company?
Whether you’re starting up or are thinking about revisiting your current structure, deciding between operating as a Sole Trader or a Limited Company can leave you feeling lost and confused. But, in truth, understanding the difference between these two terms isn’t as complicated as you may think. As a Sole Trader company, you’re classed as being self-employed and having a 100% equity stake in the business. Meanwhile, a Limited Company acts as its own legal entity but holds you and any other owners responsible for the business’ debts in relation to how much capital you’ve each invested. The difficult part is understanding what these two different operating structures entail and how they affect you in order to make an informed decision.
Easing the pressure with Supply Chain Finance
An issue that many UK business’ often face involves maintaining a reliable supply chain, which is vital for your ability to deliver high-quality goods and services to your customers on time. Yet, as intrinsic as your supply chain is to your success, staying on top of it is not always a straightforward matter. Whether you trade regionally, nationally or overseas, any delays in your supply chain can create a real headache for you. But rather than stand by idly, you could ease the pressure on your business’ finances by applying for Supply Chain Finance.
The smarter solution: Revolving Credit for the Fashion Industry
The fashion industry remains one of the great British success stories. The whole world watches the leading British designers, and the twice-annual London Fashion Week is arguably the industry’s biggest, with estimated orders of over £100 million. These events, where more than 250 top UK designers showcase their collections, reflect the importance of Spring/Summer and Autumn/Winter collections for both the Haute Couture and high street ends of the fashion business.