Entrepreneurs really are the lifeblood of the UK economy, spending vast amounts of money growing their businesses and accounting for approximately 90% of all job creation.
But during a sustained tough economic period, they are often the ones who suffer the most, with austerity measures, inflation and weakening consumer confidence all putting serious pressure on margins and profitability.
Here at Skipton Business Finance, we believe such businesses need to be supported by the wider economy if the UK is to continue to bounce back from the economic doom and gloom of the last few years.
After all, it is these very entrepreneurs who inspire new ideas, set up new companies and ultimately create new jobs and inspire confidence across the board.
Their relentless quest to succeed sets them apart in the business world, when many others around them are throwing in the towel and deciding they have had enough. New ideas and products they generate create exciting opportunities, even in a benign market, leading to wealth creation.
However, statistics indicate that still only one in three new companies will go on to succeed, so one can understand the reluctance of some lenders to provide much-needed funding when they have their own targets and balance sheets to worry about.
Here at Skipton Business Finance, we feel new start businesses need quick and easy access to external capital to succeed and should be supported where possible.
Providing the new start business in question has a realistic business plan, and the invoices raised are of a fundable nature, Skipton Business Finance is very keen to assist.
We are not too concerned about past business failures, as we value people who have the dynamism and belief to try again. The potential of a business, and the people behind it, is what our auditing team will assess.
We are incredibly proud to share the ethos of our mutual building society parent, Skipton Building Society, which strives to support local businesses that are looking to create jobs and wealth in the regions. And with over 160 years’ experience under its belt, it’s fair to say the society has been able to do this whilst weathering many a storm and economic recession in the past!
Invoice Finance for New Starts
Skipton Business Finance provide quick-start invoice factoring facilities that can release cash tied up in invoices within 24 hours, allowing a business to push forward and generate more orders, rather than having to wait up to 120 days for debtors to pay. With an invoice finance facility at their side, new start businesses can then expand quickly and benefit from increasing amounts of cash through the facility as orders increase. If your new start business isn’t sure where to turn to access external funding, why not visit our page on invoice finance solutions for new starts to find out more about how our funding solutions work, or give us a call on 0845 602 9354 for a chat and a no-obligation quote. After all, we all need to do our bit for the UK economy to help bring the good times back!