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Failing high streets – can invoice finance help?

The high street is not looking too smart right now. Thorntons is closing stores and Habitat, Oddbins and TJ Hughes are all in administration. Why bring this up? Because the BBC were in Chichester filming about failing high streets the other day and a recent Daily Telegraph article on invoice finance profiled companies who are doing much better.
The article highlighted three companies that had used invoice discounting and factoring. The owner of a manufacturing firm commented that it allowed him to access short-term cash when he needed it and that, having let them know he used this business banking facility, it encouraged customers to pay on time.
The owners of a recruitment company and an electronics firm were just as positive. The former used factoring to help finance the launch of his businesses when the bank refused to help. He also mentioned that it helped them weather a change in the payment system of a big client, which had led to delays in cash flow. The latter said the main advantage lay in the flexibility of the service.
So, there are companies out there that are doing well and invoice discounting and factoring and asset-based finance are playing their part. Could alternative types of finance have helped the likes of Jane Norman, TJ Hughes and Oddbins? Well, it’s hard to say without the details, but what seems more certain is that companies should be aware of invoice finance and other means of finance.
To find out more about A&T Business Associates services, contact us on 01903 602211 or info@atbusinessassociates.co.uk

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