financial management for ambitious businesses
A recent survey carried out by the credit reference agency Graydon and the Forum of Private Business (FPB) highlighted that late payment by companies was having a domino effect, with 56% of businesses that are paid late being forced to delay paying their suppliers. 16% said they had almost been put out of business as [...]
The term “tone from the top” is usually used to describe the way that directors create the atmosphere in which an ethical approach to business is promoted or where dodgy behaviour is allowed to exist. Not actively encouraging ethical behaviour can lead to turning a blind eye. Where there is a highly driven approach to the [...]
When the credit crunch hit I was struck by how many businesses adopted a slash and burn mentality. Doubtless many businesses had been complacent and there was fat that could be trimmed, but also there was a reluctance to spend money on the things that would take them forward, whether it was marketing, skills, IT [...]
Invoice financing is an increasingly popular form of funding. It has to some extent been associated with distressed businesses, although it can also be a good way of funding growing businesses. What is invoice finance? In broad terms the funder provides finance at an agreed percentage of outstanding customer balances. Typically a proportion of the [...]
In my last blog I spoke about the increased risk of fraud in the current climate and the challenges of SMEs in preventing fraud. Whilst businesses can thrive on friendliness, informality can also result in loose procedures that leave a business exposed to fraud or error. Here are some tips which should not only help [...]
Minister for Business and Enterprise Mark Prisk posted the following question on LinkedIn: “The Government has announced plans to help small and medium sized businesses access finance, secure new contracts and help drive growth. What are the barriers holding back your business that Government could help remove?” At the time of writing there has been [...]
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