New year, new ideas for your business

Now that 2020 is upon us and we are all back to the "9-5", thoughts quickly turn to what we want to achieve and need to achieve in the 12 months ahead.

Finance, or lack of it, can be an inhibitor to ambition and we see it as our role to help our clients plan and access the finance they need. Many businesses are cautious about taking on new financial commitments in the current climate, and rightly so, but the right finance structured in the right way, can be a valuable and affordable enabler for success.

In times gone by, small business owners would have spoken to their bank manager about such things and it is a sign of the times that good managers working for banks with a positive credit appetite are fast becoming a rare commodity on the High Street. Some banks don't provide a dedicated Relationship Manager to small businesses at all, so when they need finance, who do they turn to when they want to speak to someone about their requirements?

We see this as a significant challenge in the growth of the economy.

Here at Productivity Finance, we have all been Bank Managers in the past, looking after new starts, well-established companies and sole traders across very diverse sectors. We've helped businesses grow and expand and helped them manage difficult times too. We understand the challenges businesses face every day, whether it is cash-flow or growth. Sometimes, all that is needed is a sounding board for ideas. In all cases we know how to listen and advise.

When it comes to finding a lender, the core banks, are, in our opinion, very much open for business, but more via their broker channel than for direct applications. There are also many alternative lenders, including peer-to-peer lenders, that have sprung up to fill the gap left by the banks. Some are very good, others are best avoided. With the benefit of being independent and having access to a wide panel of funders, our job is to navigate you to the best provider when we can shine a positive light on your business and help you get the funding you require. We'll get to know you and understand your business, just like your Bank Manager used to do.

Contact us now to find out how much your business could borrow and start putting your 2020 plan into action. Brexit is almost upon us, so make sure you have addressed your finances for the opportunities and challenges this unchartered new era will create.

New year, new ideas for your business

By: Paul Marston

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