If you’re looking for funding, you’re not alone. As of August 2024, around 33% of UK businesses are concerned about experiencing cash flow shortages in the coming months. Not only that, but a further 21% of small and medium-sized enterprises (SMEs) reported concerns about their ability to meet financial obligations, driven by high energy costs, inflation, and economic uncertainties.
This trend reflects the broader economic pressures that have left many businesses struggling to survive, with a substantial number reporting losses over the past two years.
With this in mind, what support or advice is available?
This is where financial brokers come into play. They play a crucial role in supporting businesses by helping them navigate the complex landscape of financial options, securing necessary funding, and offering tailored advice to improve cash flow management.
Financial brokers can connect businesses with the right lenders, ensuring that even in challenging economic conditions, companies have access to the resources they need to sustain and grow their operations. In these times, alternative finance options might just be the lifeline businesses need – financial brokers act as the crucial link to these vital resources.
When searching for funding options, it’s crucial to work collaboratively with financial brokers.
Why? Simply put, brokers play a crucial role in matching businesses with the right financial solutions. In fact, around 25% of UK small and medium-sized enterprises (SMEs) actively seek the assistance of financial brokers when navigating the complex landscape of funding options.
A report from the British Business Bank found that this trend has been driven by the increasing complexity of financial markets, the rise in borrowing costs, and ongoing economic uncertainties such as inflation and supply chain disruptions.
Many business owners are so focused on running their operations that they lack the time to thoroughly research and evaluate potential funding sources. This is where brokers add immediate value. With extensive experience in the market, brokers can quickly identify suitable lenders and secure favourable deals in terms of rates, fees, and repayment terms. Their expertise saves business owners both time and money by handling the bulk of the legwork.
Additionally, brokers have access to a wide range of lenders and can pinpoint the options that best fit your specific needs, offering invaluable financial advice that can make a significant difference in your business’s financial health.
The importance of brokers for Accelerated Payments
At Accelerated Payments, we place immense value on our collaboration with brokers to provide vital working capital to businesses. Our partnership with brokers is not just about funding; it’s about supporting businesses that operate both domestically and internationally. We understand the complexities faced by businesses trading across borders and recognize the pivotal role financial brokers play in connecting us with these clients.
As a financing provider, we take pride in being a trusted partner for brokers and ranked fifth in Business Money’s Receivables 2021 Intermediary Index – a prestigious industry review of the UK invoice finance sector. This ranking reflects the high regard in which experienced commercial finance brokers hold us, evaluating how we respond to and manage client needs, handle the appraisal process, and maintain ongoing relationships.
Accelerated Payments is committed to helping businesses navigate one of the most challenging business environments in history. By working together, we can help rebuild economies and inject much-needed working capital into the market, one business at a time.
Exploring Alternatives to Brokers
If you choose not to work with a financial broker, there are still several effective ways to seek financial advice and support. Consulting with your accountant can provide valuable insights into your financial situation and potential funding sources. Additionally, you might consider reaching out to other financial advisors or consulting firms that specialize in business finance.
For those interested in a more direct approach, you can also speak directly to us. We can assist your financial needs to see if our Invoice Finance solution is a fit for your working capital needs.
