A Happy Christmas for SME Owners

Invoice finance can prove a viable solution for many SMEs...

Almost half of UK small-to-medium-sized enterprises (SMEs) are to down tools and take a break for more than a week over the Christmas period, according to a new survey by XLN Business Services.

42% plan to shut completely over the festive season, whilst 29% will be closed for between 0-2 days. This is in stark contrast to last Christmas, when less than a quarter were to shut for six or more day during the festive season.

With other surveys and data revealing sales had been high for many during November, plus the success of Small Business Saturday and Black Friday, many business owners are happy take a break from their business and recharge their batteries ahead of the New Year.

January is often a slow time for trading for many sectors, so business owners may look to use the festive period to begin their preparations for next year.

The survey results came following positive economic news suggesting the recovery has continued in Q3 and so far during Q4 of 2013.

Business Finance for 2014

As 2013 draws to a close and preparations begin for next year, now is a great time for small business owners to consider their finances and cashflow for the New Year.

Overdrafts and loan often come up for renewal during the first few months of the year, but such solutions may have proved restrictive for businesses looking to push on and grow their operations during the early stages of the economic recovery.

For businesses that issue invoices, it is worth considering invoice finance as their external funding facility, which works to release funds from unpaid invoices.

Tens of thousands of companies used invoice finance facilities, including invoice factoring and invoice discounting, in 2013.

If you’d like to find out more, do give our team a call on 01756 694933 or why not fill in our enquiry form and we’ll ring you back at your convenience with a no-obligation quote.