28th November 2017 – Birmingham-based Finance 4 Business Group has launched the Liquidity Club, an alternative new business channel for business funders to assist SMEs looking to raise finance for growth.
The Liquidity Club will be based from two offices in Birmingham and Leeds to cover the Yorkshire, North West and Midlands regions. David Totney, has been appointed as Managing Director for the Liquidity Club. He brings 30 years’ experience in the Asset Based Lending sector, working for both bank owned and independent companies, at board level including Liquidity Ltd, Lloyds TSB Commercial Finance and Euro Sales Finance. Working alongside David is Adam Simpson as Director. Adam has 25 years’ experience working in advisory and cashflow management and joins from Mazars where he was the Partner for Receivables Management and also has worked for RBS Invoice Finance. Will Mason, Operations Manager completes the team at the Liquidity Club.
David Totney, Managing Director of the Liquidity Club explains: “Recent research from WorldPay has highlighted that over 50% of small businesses are planning for growth in 2018 and that 52% of start-ups and early stage businesses are concerned about accessing traditional sources of funding. The Liquidity Club has been created to improve the client experience of raising funds in a complex market, whilst working in collaboration with funders to provide high quality leads suited to their risk and product profile. We are here to support a number of sectors and notably assist growth in the UK manufacturing industry. There is a wealth of finance options available which can be confusing and it is important that businesses choose the right finance package that suits their business. Our vast experience of funding requirements means we are well placed to understand the needs of both our clients and funders to ensure the best rates are provided and are encouraging business owners to talk to us.”
Adam Simpson, Director Liquidity Club added: “I am delighted to join the Liquidity Club and help to launch a new broker service to market. We aim to simplify the confusing process of raising business finance and help clients access funding to support growth and cash flow needs. By using our expert knowledge of the market place we can support both clients and funders. Initially we will be working across the Yorkshire, North West and Midlands regions but have plans to expand our services across the UK in the future.”
A recent survey of over 13000 construction firms in the UK has found construction firms are being squeezed by longer payment terms. Firms now spend X% longer waiting for invoice payment than 5 years ago, 69 days up from 52.
For any business increasing payment delays can squeeze cashflow. Liquidity Club has expertise in finance solutions to overcome this issue and improve working capital position. Talk to us today to find out more.
A survey conducted by CivilisedBank has indicated that SMEs are unhappy with their bank relationships, with almost half (46%) not having, or not being able to contact their relationship manager.
Less than 20% of SMEs with revenue over £1m were extremely happy with their support, dropping to 15% for SMEs with revenue less than £500k.
Liquidity Club know the value of relationships and put focus on the customer journey and aftercare. We only work with funders who understand client experience, and maintain a reasonable number of clients per RM. In addition, our team provides an additional point of contact should clients be unhappy with their experience.
The Mail on Sunday is demanding a new body to mediate disputes between firms and their banks. Currently most of these have to be resolved directly because the firms are unable to afford High Court fees.
Mike Cherry, FSB national chairman, said: 'The Mail on Sunday is doing critical work with its campaigning on this. Small firms have far more in common with consumers than big corporations but receive nothing like the same protections or access to justice when they are mistreated.'
Research distributed by Hampshire Trust Bank suggests that the number of SMEs in the UK has grown 23% over the last 5 years. The largest growth occurred in the office admin and business sector - 76%.
Technology related investments in the Northern region reached a total value of £207.6m in Q3 2017. This is nearly 400% up on the year previous. The data, analysed by KPMG's northern tech sector team, shows that there were 45 growth investments made between June and September 2017, as well as a further 26 acquisitions.
The British Business Bank has announced its total lending has now surpassed £3bn. Nearly 30'000 SME's have benefitted from the scheme since its inception in 2009, with average loan sizes of around £100k.
A survey of 100 businesses by WorldPay found that over 50% of small businesses surveyed are planning for growth in 2018. However, 52% of start-ups and early stage businesses are concerned that traditional sources of finance are not as readily available, while 30% have already encountered issues. Additionally, 40% of younger business owners feel that alternative finance has made them less reliant on the banks for funding.
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