In business, cash is king. Your business might be doing well and, in the next six to twelve months, you might be expecting to bring in increased revenue and profit. However, if there isn’t enough cash flow to cover company expenses, those potential earnings may not be felt.
If you can’t beat them, join them, as they say. That’s the view many businesses are having to take as industry disruptors enter the market, armed with technology, to win over their customers.
Back in 2012, the Federation of Small Businesses (FSB) reported that SMEs were struggling to raise the money they needed to expand. At the time, it found that 42% of SMEs who applied for a loan said they were turned down. That was then, though – surely things have changed?
Scalability. It’s the age-old problem small businesses face. You’ve established yourself in the market, built a customer base and identified new opportunities – but need to invest to capitalise on them. Maybe it’s a piece of equipment, bigger premises, product development, new staff or better IT systems.
As the UK economy slowly recovers from the worst recession in a generation, several businesses have emerged with a distinct distaste for the complexities of high-street bank loans and are increasingly drawn towards the ease and accessibility of alternative finance.
Following the success of Shire Leasing’s partnership with Toshiba UK in introducing an innovative online finance solution for SMBs, the scheme has launched a number of major new benefits to provide the marketplace with wider financial support.