Read the latest news about alternative business finance.
Alternative business funding is becoming a more accessible option for SME owners, at a time when they are needing it the most. Small business lending from the UK’s largest banks fell by a massive £536m from December to January 2017, according to statistics from the Bank of England. This is the biggest dip in SME leading in the last two years.
Many banks have been shying away from certain business sectors, due to economic uncertainty following Britain’s vote to leave the European Union. Alternative business funding allows independent companies to bypass big high street lenders, by enabling small businesses to quickly and easily obtain the funding they need.
Follow our three simple steps to keep on top on your finances in 2018:
Monitor the market
It’s wise to keep up-to-date with economic forecasts and trends. This allows you to identify and quickly adapt to any changes within the market at a moments notice.
Always stay one step ahead. This ensures that you are not going to have any unexpected costs when you least expect it. Having a financial plan in place for any shake ups in the market will ensure that this won’t affect your business.
Reviewing your spending habits can be a daunting task for any business owner. Having good knowledge of your financial trends can keep you on top of where you are going right; but also gives you an early warning if you are going slightly off track.
Maintaining cash flow
Managing cash flow is one of the most crucial parts of running a business, as this will provide a safety net for any unanticipated expenses. That’s why many small business owners choose alternative business funding to ensure their company runs smoothly.
Alternative business funding options such as cash advances are becoming increasingly popular with entrepreneurs. With a fast application process and flexible repayments, it’s an easy way to get the funding you need.
Quick Capital is an alternative business funding provider and we have helped lots of small businesses expand and grow by offering simple business finance. To discover how much alternative business funding you can raise call one of our advisors on 0800 3777 402 or request a quote online www.quickcapital.co.uk