UK SMEs ending year on a high

Small businesses can sometimes experience cashflow problems during the festive season

British small-to-medium-sized enterprises (SMEs) are feeling increasing confident going into 2014 thanks to the economic recovery over the last few months, according to representative body Federation of Small Businesses (FSB).

The confidence index, one part of the FSB’s Voice of Small Business report for the fourth quarter, jumped up to +21.6, from -5.6 for the previous year up until Q4 2012.

The report also suggested that small businesses were looking to hire more staff in the new year and grow their operations.

FSB national chairman, John Allan, said of the report findings: “Government must not be complacent - helpful initiatives were announced in the Autumn Statement, particularly on business rates”

Forecasts for growth in the UK economy were revised up last week following the better-than-expected data from all sectors, with there now predicted to be 1.4% growth in 2013, up from 0.6%. 2014 is expected to see 2.4% expansion, up from 1.8%.

Business Finance for the New Year

As the calendar year draws to a close, many businesses will find now is the perfect time to organise their finances for 2014.

And if inconsistent cashflow is causing headaches for your business, invoice finance is one viable option for many SMEs which helps to unlock funds that get tied up in unpaid invoices instantly.

Despite the improving economic picture, often are still finding that debtors are taking longer and longer to pay whilst demanding extended credit terms, which is where an invoice finance facility, such as invoice factoring and invoice discounting, can come in handy.

If you’d like to find out more about how invoice finance can free up your finances, why not browse our website for more information. Alternatively, fill in our online quote form and we’ll get back to you with a no-obligation quote.