BES Utilites looks at SME funding options

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Post on 14-Apr-2017

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<p>SMEs and funding options</p> <p>Here atBES Utilities we work with businesses of all sizes to ensure they get the best deal on their energy supplies. We know that some small and medium sized enterprises (SMEs) have had a tough time during recent years, particularly when it comes to obtaining credit.</p> <p>SMEs account for a massive proportion of the UKs total output, but for every 100 lent to businesses by banks, only a quarter goes to SMEs. The government has introduced different schemes to try to encourage banks to lend to SMEs, including the Funding for Lending Scheme. Despite these efforts theres evidence to suggest that bank lending to SMEs has actually continued to contract.</p> <p>Many commentators have laid blame for the reluctance to lend at the doors of the big banks, but some of the problems may instead lay at the doors of the businesses themselves.</p> <p>Funding options</p> <p>Many SME owners think the bank is the only place where finance for their business is available. However, there are now a wider range of funding options open to small and medium sized business owners. </p> <p>Knowing what options are available for funding is vital for business owners to secure the funds they need to grow and expand their firms. While traditional loans and overdrafts may be good for some businesses, other funding options may work better, and be more cost effective.</p> <p>Other forms of business funding include:</p> <p> Asset based lending Private equity funds Invoice financing/factoring Trade credit Enterprise Finance Guarantee</p> <p>Increasing awareness</p> <p>While approaching alternative finance providers may seem daunting to some business owners, it is becoming an increasing necessity as bank lending continues to be hard to find. Options like invoice financing and factoring are perfect for some companies and increase cash flow instantly, but they do need to be fully investigated before entering into an agreement.</p> <p>Overall, SME owners need to increase awareness of what forms of funding are available and make sure theyre fully aware of what the whole market has to offer. Especially if they need funding to grow and expand their current business. If business owners are struggling with funding energy costs they should also look into the Business Energy Solutions Fund.</p> <p>BES Utilities</p> <p>BES Utilities is a UK-based, independently owned group of companies, comprising of Business Energy Solutions Ltd, BES Commercial Electricity Ltd and BES Telecom Ltd. With offices in Fleetwood, Lancashire, BES Utilities aims to provide first rate utility services to businesses across the United Kingdom.</p> <p>We value customer service highly, if have any queries during your time with BES Utilities, we aim to deal with these immediately and in a professional manner. All our call centres and help-desks are solely UK-based, and can be contacted at any time you see fit from 0830 to 1730 Monday to Friday.</p>