With more and more new start ups emerging across the UK, there will inevitably be some that won’t succeed at their first attempt. One in three new businesses indeed won’t quite make it and closes within three years. However many of these businesses may fail due to naivety rather than any major problem with their business, and so successful phoenix businesses can be built with more solid foundations.
Challenges for a Phoenix business
Phoenix businesses are often frowned upon by the major sources of funding, such as the banks, due to the fact that the company owners have a blot on their copybook. In an economic period when banks are reluctant to lend even to companies with full and thorough track records, phoenix businesses really struggle to access the credit they really need to ensure they are a success.
What SBF can do
Skipton Business Finance is a pioneer in understanding the future potential of their clients and has enjoyed great success working with UK phoenix businesses that, when given access to additional working capital via business finance facilities such as factoring or invoice discounting, go on to flourish and reach their true potential.
How SBF do it
We strive to deliver flexible invoice finance, such as factoring or invoice discounting, that grow with the business of the client and our entire sales approach is shaped around this philosophy.
In over ten years, we have funded businesses in and given access to funds to grow in line with their sales meaning that the solutions we provide are more flexible than a traditional bank overdraft.
This means that the factoring and invoice discounting facilities we provide, are the fastest growing alternatives to a traditional bank overdraft.
In the UK, there are over 12,000 businesses in the services sector that actively use invoice finance facilities such as factoring or invoice discounting.
Get in touch with us!
It’s easy to unlock the money you have tied up in unpaid invoices. Just call us on 0845 602 9354 and one of our award-winning team will be able to guide you through the process. Alternatively, fill in the quick quote form on the right.
