Spend £75 to get £100k+? Grants for turnarounds. Continue Reading

HSBC has moved to encourage SMEs to consider invoice finance when combating late payment and cash flow issues.

According to research by BACS Payment in March 2009, payments owed to SMEs have risen by almost 40 per cent in the last year to £26 billion and many businesses are caught in an unsustainable cycle of companies billing quicker and taking longer to pay.

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Independent invoice finance company Close Invoice Finance has launched a £50m ‘fighting’ fund for small and medium-sized businesses in Yorkshire and the North East. Ian Steward, managing director of Close Invoice Finance in the North of England, said: “We hope our £50m fighting fund will help businesses in the North East and Yorkshire take advantage of an alternative, more flexible source of funding. Business owners need to understand that banks are not the only route to securing cash flow.” Continue Reading

Small businesses in the south-west can access a new £10 million fund to help them grow through the downturn.   The South West Regional Development Agency announced that the initiative will be targeted at growth-orientated firms which have drafted viable business plans.

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Five of the North West’s leading turnaround and insolvency experts have joined forces to launch a £20m investment fund to salvage distressed businesses.

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Sally Goodsell, CEO of regional funding organisation Finance South East, looks at what Government-secured loans might mean for SMEs.

Peter Mandelson’s recent announcement of £20bn of Government-secured loans for SMEs divided opinion. Given the scale of the economic challenges is this enough to help companies retain business and even grow?

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