Late Payment Clients Not a Problem with Invoice Finance!
Since the Carillion collapse, many MPs and industry officials have passed comment on the way the corporation operated, in particular the way it paid its suppliers.
And it’s the way in which large, dominating corporations pay their suppliers – in particular the late nature of payments - that has been raised by Paul Uppal, Small Business Commissioner and former Conservative MP.
Mr Uppal has highlighted that many subcontractors of Carillion were paid on the company’s 120 day terms, regardless of the sub-contractor’s own terms, for example, 30 or 45 days – citing that he is prepared to ‘name and shame’ companies over their late payment practices.
It’s the result of this late payment culture by Carillion, that has lead to thousands of companies facing bankruptcy or being forced to make big cuts in employment.
Sadly, here at Capital Corporate Finance, we know only too well that late payment is a huge problem. It’s all too real, effecting businesses of many sizes, established or start ups.
* SMEs are carrying out the work fairly, on time and on budget.
* This work is done incurring operating costs such as machinery and materials, way over and above those of labour and employment.
* Yet most SMEs are waiting over four month to receive payment!
Did you know that 49% of businesses say they are not paid on time, as a result half of businesses fail in their first five years due to funding and cashflow problems?
Fear not! This doesn’t need to be your business! Not with invoice finance – the flexible advanced payment finance facility.
Arranged through our expert team of advisors – searching the whole market, Capital Corporate Finance will find you the perfect invoice finance provider – tailored to your business needs. As one of the largest introducers in the market place we agree terms quicker and with better rates!
Unlike loans and overdrafts, invoice finance doesn’t involve any borrowing. Instead, a business is simply being advanced monies on those owed on issued invoices.
* Invoice finance is quick and simply to set up.
* It grows with your business and always for cashflow and working capital as standard.
Invoice finance is simple to manage.
* You issue your invoice to your customer.
* Your invoice financier pays you a % of that invoice (up to 90%) within 24hours.
* They chase payment and once it has been received you are paid the balance (minus fees).
Don’t fall victim to late payers. Join the 40,000 plus UK businesses already using invoice finance! Get in touch with us today and let us secure immediate payment on your invoices – email carole@capitalcorporate.co.uk or call 07785 596053.
Image courtesy of Stuart Miles at FreeDigitalPhotos.net
