Archive

Archive for May, 2013

My new website

http://www.cpcmcredit.co.uk/index.html

Its fairly basic for now and frankly I prefer this blog as a means of promotion. But here it is anyway

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Contract negotiation

A significant element of any credit management is understanding the pitfalls of negotiating contracts. Here is a useful guide from Scottish debt collection solicitors Yuill and Kyle 

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Thank you to Colemans CTTS

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Co op stops lending

Co-operative bank branchhttp://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10079966/Co-op-reviews-banks-futures-as-it-halts-new-loans.html

Not good news. Aside from the fact that I’ve heard many good things about co ops services to business, we need more completion in the market and not less

One of the invoice financing sectors positives is the sheer number of lenders. They do vary considerably and will have their specific sectors and parameters but it makes for a decent market

There are too few significant players in straightforward commercial lending and banking. We need more

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NewBiz Accountants

logo

Here is a very interesting new site which I am sure will be a success

The objective is to create a platform for small businesses and their owners to ask questions of experts on various financial and legal issues. My contribution is here

http://www.newbizaccountant.co.uk/your-quick-guide-to-invoice-finance-and-invoice-factoring/62186/

I would recommend a browse and it may well be that you also have something to offer

 

 

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Unnecessary slur on asset based lenders

I am an admirer of James Hurley’s Daily Telegraph blog whilst not always agreeing with his stance on certain issues. This entry is a case in point

http://www.telegraph.co.uk/finance/yourbusiness/10013820/Fears-over-extension-to-Banks-SME-credit-project.html

The essence of this is that the governments proposal to extend the Funding for Lending Scheme to asset based lenders is unacceptable due to the nature of invoice financing in particular

He then goes on to quote Eric Anstee from the City of London group thus;

However, he said that traditional invoice finance, which sees money advanced against a small company’s order books, is “not something the Government should be lending into”.

“The existing model typically requires businesses to sign up their entire [order books] to one provider. There’s no flexibility.”

City of London group are effectively a rival lender to the ABLs but no matter, what he states is rubbish frankly

It might not have occurred to him that lenders generally ask for security. Perhaps the City of London group lend at very competitive rates with absolutely no security at all and if so thats fine, but “signing over the order book” (technically incorrect of course) is precisely the same as saying “giving my house away” when signing a personal guarantee

Poor stuff

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Insolvent or not?

http://www.insolvencynews.com/article/15230/industry/balance-sheet-insolvency-test-questioned-by-supreme-court

Interesting ruling. A straightforward balance sheet deficit is not deemed enough to petition for a business to be “insolvent”

I think this makes sense. There are deficits and deficits. Many businesses survive relatively easily with negative balance sheets simply by using strong cash management skills.

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