1. Securing investment funding with help from the Enterprise Finance Guarantee Scheme.

Surrey based Principal, Harvey Mitchell, has recently helped Orchard client, IT-Freedom, who provide Claims, Policy and Management Information solutions to the general insurance market, secure a second tranche of cash under the Enterprise Finance Guarantee Scheme.

Back in 2009, London and Camberley based IT-Freedom, supported by Orchard Principal Harvey Mitchell successfully obtained an Enterprise Finance Guarantee Scheme (EFGS) loan from the Royal Bank of Scotland to support their entry into the mutual insurance market, the next stage of their business expansion strategy.

Since then the company has continued to show impressive progress, even in demanding economic times. Managing Director Mick Sargeant and Harvey continued to keep in close contact with the RBS, giving them regular financial and business updates. Even so it was a pleasant surprise when over lunch in April the bank enquired if they required any further funding. 

Click here to read more,  or for further details please contact Harvey on 07917 784170 or harveym@orchardgrowth.com.

2. Getting cash through good credit management.

Even if bank funding is difficult to get, companies can still get cash into their business by managing their working capital more efficiently, in particular by making sure that trade debtors pay on time and in full. Credit management expert, Clive Pacey of CPCM Credit Management, gives some practical tips for businesses looking to improve their credit management in 2011.

Welcome to the New Year. In the world of credit management we are always looking ahead to try and determine trends and assess the challenges in the coming months.  
 
So what should you look for this year and what can you do to improve your cash flow, minimise your risks and yet continue to develop your sales? Here are a few thoughts.

Click here to read more, or for more information contact Clive on 07956 138895 or cpcm@live.co.uk. Read his regular thoughts on credit management issues at http://cpcmcredit.wordpress.com/.

3. Keeping the books properly means keeping HMRC away from your cash.

50,000 businesses could face investigations into their bookkeeping as a result of a recent HMRC consultation document. A report in Accountancy Age magazine claims that the proposed Business Records Checks could result in fines of up to £3,000 for those businesses whose poor record keeping has led to tax payments being lower than they should have been.

Commenting on the story, Orchard Principal Antony Doggwiler said that while he was concerned that it might be used as yet another stick to beat the SME community,  he was broadly supportive of any initiative that would improve business financial record keeping.

"As FDs we ensure that we have accurate and timely record keeping in place to enable us to provide proper strategic financial management advice and improve profits and cash flow. We have come across too many SME businesses that have not kept proper books and records believing it to be unimportant, only to discover later that they are unable to provide the necessary information when required to do so."

4. The thoughts of Chairman Paul.

There maybe one or two of you out there who, having seen the header on our newsletter would have immediately thought of the brilliant spoof documentary All You Need is Cash on the prefab four, The Rutles.

Conceived and written by Monty Python legend, Eric Idle, "All You Need Is Cash" cleverly mirrors the real life story of the genuine fab four, The Beatles, and harks back to a golden age when the music industry was once a licence to print money.

Obviously life has changed and now iconic businesses such as EMI and HMV are struggling to survive. A timely reminder to all businesses and industries that however glorious your past might have been, it is no guarantee for future success and cash. Unless of course you are Paul McCartney .....

What do you think?

Agree or disagree with Paul? Let him know on 07770 475485 or paulc@orchardgrowth.com.