Like it or not we will probably see allot more pre packed administrations in the new year. Word from the insolvency practitioners is that the inland revenue and customs and excise are taking a tougher approach on PAYE and VAT arrears.  With the traditionally quiet Christmas period and allot of businesses already struggling ,  I think we will potentially see a few more casualties as businesses cecome  even more strapped for cash.

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There are many factors which you should take into consideration when choosing an invoice financing company. probably the most important two are the geographical location of the finance company and does  that company have experience in your particular industry.

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I read on a blog recently asking what a factoring or invoice financing finance broker does for his money. It was suggested that a broker should approach the most  number of finance companies possible and get the cheapest quote for their customer. I couldn’t disagree more. Any deal that gets touted around the market and effectively becomes a beauty parade of factoring companies can do a business more harm than good. The problem is that if a finance company is aware that they are up against three or more finance companies they don’t take the deal seriously. We have seen business recently that have seen six or seven finance companies.

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Invoice Financing can take place in many forms and variations however in a nut shell it gives a business the ability to release cash against unpaid invoice. Historically it was used as a lend of  last resort, however over the last few years the market has matured and the stigma of using a cash flow facility seems just about to have disappeared. In fact we can give you many reasons as to why invoice discounting or factoring  is far better than many traditional forms of bank finance.

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