Fiducia's 'Commercial View' September 2022 - with Time Finance

Soaring costs: another blow to business recovery

Business owners are facing some challenging conditions right now. The rise in costs of supplies, materials and utilities are all placing more financial strain on your client’s cashflow and making it increasingly more difficult to keep up with the everyday expenditure of running a business and achieving growth plans.

Few firms have the luxury of using their own capital to finance investment, and for some, what working capital they do have available isn’t enough to manage day-to-day expenses, like paying their own suppliers, HMRC or employees. For those without a funding partner to rely on, a lack of accessible finance can hold them back, or worse be the reason that business fails.

At Time Finance , we’re seeing an increased demand for flexible and supportive finance facilities. Interestingly, we’re continuing to see a significant shift in what businesses are wanting to use that finance for, as market conditions change so rapidly. Following on from what was a focus on sustainable investment and a post-covid bounce back has now switched to prioritising operational borrowing in order to maintain and manage skyrocketing costs, stay competitive and search for new ways to help their businesses prosper.

More and more firms are in need of immediate access to working capital, particularly through solutions like #InvoiceFinance, to bridge the growing gap in their cash flow. Solutions like Invoice Finance not only offer firms a guarantee that they can meet their own financial commitments on time with regular access to cash, but gives them the peace of mind and freedom to continue investing and grow their business at a pace that suits them.

Looking ahead

There’s no doubt that the cost-of-living crisis will be around for some time now. Without the Government intervention businesses so desperately need, it will be challenging to manage and maintain the knock-on effects of these rising costs. On top of this, a nearing recession will mean a greater rise in insolvencies and risk of viable businesses going under.

If we’ve learnt anything over the last two years, it’s that having access to funding has meant the difference between success and failure. But it goes much further than this. It’s that access to a real person, particularly during difficult times, which reminds businesses that they are not alone and invites them into a two-way conversation in which they can properly communicate their needs and concerns. That’s why at Time Finance we pride ourselves on our relationship-driven approach to doing business, being accessible when our clients need us most, and always tailoring our support to suit their exact needs.

With a reliable funder like Time Finance by their side, who balance the personal touch with speed, agility and communication, businesses will begin to feel much more confident and optimistic about the future.

Support your client’s #growth with Time

We’re proud to support hundreds of businesses around the UK with our flexible Invoice Finance facilities. We work closely with financial intermediaries up and down the country to help put in place facilities that release working capital and provide a necessary cash injection into their client’s businesses. By releasing up to 90% of the value of unpaid invoices within 24 hours, firms are no longer held back by delayed or late payments from customers. With our support, they have the headroom and peace of mind to take their business to the next level.

What are the benefits?

• Businesses can receive an immediate cash injection
• Funding increases alongside sales
• Businesses no longer have to wait 30, 60, 90 or even 120 days to be paid
• Suppliers can be paid quicker in return for early settlement discounts
• Outsourced credit control is available, giving them more time to focus on more important things

Who can we help?

• Businesses trading with other businesses on credit terms
• Those looking for funding facilities between ￡10,000 and ￡2.5million
• Firms already using Invoice Finance but unhappy with their current funder
• Businesses with a minimum turnover of ￡100k per annum
• Firms with insufficient overdraft facilities

A broad selection of sectors and industries, including but not limited to #Manufacturing, #Engineering, #Wholesale, #Transport, #Haulage, #Printing and #Recruitment

Some new start businesses as well as phoenix/pre-packed administrations

When is it suitable?

• When businesses are in need of #workingcapital for growth
• To assist MBOs & MBIs as well as acquisitions and financial restructures
• When businesses have poor relationships with their existing funders

If you’re looking to support your client with an Invoice Finance facility or would like to find out more about how it works and what we do, please talk to Fiducia Commercial Solutions about Time Finance.

Visit our website to find out more information on the other financial solutions we can offer your clients - from #AssetFinance to #BusinessLoans and #VehicleFinance.

Explore Time Finance today: www.timefinance.com

Author: David Nurcombe , Business Development Manager - Invoice Finance at Time Finance

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