Cashflow Problems? - Factoring is the answer

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Thursday 08.05.08

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Friday 02.05.08

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Cashflow Problems? - Factoring is the answer

Terry Lane - Thursday 24.01.08, 11:58am

The most common problem facing all small businesses in the UK appears to be maintaining a steady cashflow. Factoring can offer SME’s a solution to this prevalent issue.

Factoring companies are now the largest provider of finance to small businesses in the UK, accounting for even more than banks, according to an article in New Business. The ABFA reported that in 2006 its members handled £173bn pounds of sales and handed over £13bn of funds to its clients.

They go on to say, in the current economic climate banks are more reluctant than before to provide overdrafts. Adding this to the recent “credit squeeze” has meant that cashflow for SME’s has to be addressed in other ways, one of which is factoring.