Banks don’t help
Over the last few years there has been a marked change in the stance of banks and their lending criteria, particularly for overdrafts, and this has been driven by both the economic climate but also changes in legislation which has eroded elements of the security value of the traditional mortgage debenture.
This has allowed the Invoice Finance market to step in and fill some of the vacuum.
There still remains a good deal of bluster in the media about banks not supporting new lending propositions and businesses not being able to gain access to much needed finance.
Whilst some may argue the banks have now opened their doors for new business once again, the reality for the customer may be somewhat different with the terms now being tightened much more in favor of the bank. This could mean increased pricing and/or increased personal security being required.
With the year end fast approaching, so looms the spectra of having to file last year's accounts.
Many SMEs may not have considered potential problems if they are about to file a less than impressive set of figures, with many assuming everyone is in the same boat.
One thing’s for sure, every haulier needs to find ways to economise on fuel in order to keep their vehicles on the road and help their company remain competitive.
Fuel accounts for around 25% of a vehicle’s running costs and with UK pump prices at or near to record levels, developing an effective business fuel strategy is an imperative.
The following tips, supplied by AllStar, a UK leading fuel card provider, can help you to reduce your fuel costs effectively:
A Markit survey has indicated that the UK service sector continued to "expand strongly" in February 2014, with job creation at its fastest pace for four months.
The expansion is also supported by another marked increase in new business.
The Markit/CIPS Purchasing Managers Index (PMI) for the sector was 58.2 last month and, although this is below January's reading of 58.3, it is well above the 50 level that indicates expansion.