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£1bn Business Bank For British Firms
The government has announced plans to put £1bn into setting up a bank designed to increase the amount of lending to businesses.
This initiative is designed to help the many small and medium-sized companies who have struggled for credit since the beginning of the financial crisis. The focus will be on supporting long-term lending to small firms and the government plans to achieve this by buying up existing loans that banks have made to companies.
While small businesses would get longer term financial security, the government will hope that its move will free up more capital for the sector. The details of where the state funding will come from and the bank's operation will not be made public until the autumn statement on 5 December but it is a much welcome reform especially for the already overburdened SME sector. This may take a while yet to implement, considering previously introduced government initiatives. In the mean time, here are some useful cash flow tips that you could use immediately.
Cashflow
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1 in 10 SMEs Have Considered Closing Down
According to recent research, 11% of SMEs in Britain have considered closing down in the past few months due to the harsh economic climate. A disturbing 84% are unconvinced that the situation will improve in the next quarter.
Despite this outlook, SMEs are starting to look for new opportunities with a focus on innovation, technology and cost reduction. It is becoming obvious that outsourcing and insourcing will become more popular as companies find innovative ways other than employment to manage non core processes and control costs including finance, IT, property and marketing. If done wrong, these solutions can be expensive or even damaging, but if done right, can be priceless. The key to choosing the right partner is to research properly, get references and request for no-obligation meetings.
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Our Road Shows In The News
With plans underway to host our financial management road shows around the country, businesses are starting to book their free place as our road show series is mentioned in the news here.
To book a free place at the seminar which will provide information on practical cash flow management strafgies and a free profitability review worth £600. Please click here now:
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eFM's Interim Management
Service
Cost-effective interim solutions:
- Non Executive Director
- Board level executive
- Part Time Interims
- Maternity/ paternity cover
- Long term sickness cover
- 3rd sector cover
- Project cover
- Ad hoc financial management support
To find out more about our specialist interim management solutions, please click on the link below.
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Specialist
Pay- As- You- Use Financial
Management
 | | http://www.efm.uk.com |
"Find out more" by visiting us |
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Greetings! ,
FREE 'MASTER STRATEGIES' SEMINAR
Although it felt as if a glow had been cast over the whole of Britain during the Great British Summer Of Sports, many businesses especially in the South were left disappointed after data from the British Retail Consortium showed that August was the weakest month for sales growth so far this year. Businesses now have to determine whether sales were lost or deferred and in the meantime concentrate on preserving cash internally whilst they attempt to win the business back. Hopefully with holidays now over and the Christmas season approaching, there might be a better performance in the months ahead, if the business is properly managed.
In furtherance of our objective to support growing businesses especially in the uniquely harsh economic climate, eFM is organising a series of financial management roadshows across the country to support SMEs.
Our first free event is organised in conjunction with Rockstar Mentoring Group. This free seminar 'Master Strategies For Generating Cash Within Your Business' will take place on the 25th of October 2012. If sales growth, cash management and profitability are high on your agenda, then this seminar is an essential event for you.
Attendees can also discuss any burning issues with the team of Finance Directors. All participants will receive an e-FM Financial Profitability Review (FPR) worth £600 to highlight and evaluate key areas of financial management needs and risks plus a £500 rockstar pack including training manuals, dvds and a free mentoring consultation with one of the Rockstar managers.
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BACS SHOW CASH STRAIN ON SMEs
Recent research by BACS has shown that small businesses are currently owed £35.3 billion, suggesting that larger corporations are leaning on small businesses rather like a line of credit. The study reveals that payments are now exceeding credit terms by over 29 days and in a climate where cash is tight, SMEs need all help available to enable them to recover payments on time. This highlights the need for effective cash flow management strategies and a tight cash collection and credit control process. See our cash collection tips here.
 | | Cash Collection Tips |
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Invoice Finance An SME Saviour, But At What Price?
The Eurozone is the UK's biggest trading partner and recent import/export statistics suggest that the UK could suffer from reduced demand in products and services. The economic climate remains harsh and access to finance and cash flow are major areas of concern for the SME sector. A large number of SMEs have managed to make it through the recession with hardly any reserves, and many are discovering that they are unable to access the working capital that they need to survive. To bridge funding gaps, some companies are now resorting to the use of invoice financing and similar solutions. However, before going ahead with any funding option, it is always wise to weigh the pros and cons and consider its true cost.
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e-FM's professionals have the experience to handle any business situation from the startup phase through growth to exit. They bring to the network a variety of business skills with special emphasis on:
- Managing and optimising growth opportunities
- Restructuring
- Profit Maximisation
- Cashflow and Risk Management,
- Systems Development and Reviews
- Mergers, Acquisitions, Disposals and Transfers
- Business Planning
- Cost Reviews
- Strategic Planning
- Working Capital Forecasting, Financial projections
- Funding Development Proposals
- Board Support
- Other bespoke financial management services.
- Advice on property-related matters eg up/down-sizing
- Financial modelling
- Profit and loss account
- Balance sheet projections.
If your business, clients or contacts might benefit from the experience of our specialist team, kindly forward this newsletter or please email clientcare@efm.uk.com. You may also visit our website www.efm-network.com for more information about our pay-as-you-use financial management service. |
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