BIRMINGHAM, England, April 15, 2011 /PRNewswire/ --
- How Factoring (http://ifgnetwork.co.uk/) can Play its Part?
The Interface Financial Group (IFG), North America's largest alternative funding source for small businesses, announced that the company offers support to small businesses that are struggling with raising capital to fund growth prior to economic recovery. IFG provides short-term financial resources including invoice discounting (http://ifgnetwork.co.uk/) or invoice factoring (http://www.ifgnetwork.co.uk/invoicefactoring.php) to companies in the UK, Ireland, United States, Canada, Australia, New Zealand, and Singapore.
In a recent survey, 40% of small to medium sized enterprises (SMEs) across the UK believe that a slip back into recession is inevitable this year. The report from the Business Confidence Survey highlighted that along with this statistic, another third also said they had lost out on revenue as a result of cuts to the public sector. However, despite this most companies remained optimistic about their own survival.
A staggering 98% of respondents said they were optimistic about the survival of their own businesses.
This is the highest level of confidence that has been reported in the three years the survey. The finding is particularly unusual in light of the fact that one in five respondents said they expected government cuts to impact on the number of people they could afford to employ this year.
When these figures are added to other constraints that SMEs are facing, noticeably cash flow and availability of capital for growth, it is testimony of the resilience of the SME community.
When asked how factoring (http://www.ifgnetwork.co.uk/debtorfactoring.php ) can play its part in helping the SME community, Paul Barnsley, chief operating officer for The Interface Financial Group (IFG), said: "It is good to hear how the owners of SME businesses feel confident about the survival of their business, however they must also be careful and diligent in controlling their overheads and cash flow in order to achieve this."
"For a SME to be successful and achieve growth during these difficult times they must consider all avenues that will help them to grow, and one which some SME's ignore is releasing cash tied up in invoices for work completed. This is where factoring can play a major part & help considerably."
Invoice Factoring, or Factoring ( http://www.ifgnetwork.co.uk/ABeginnersGuideToFactoring.php) as its more commonly known, is a form of invoice finance used by businesses ranging from SMEs to corporate multinationals. A business is advanced a percentage of their outstanding sales invoices by the invoice finance lender and when the customer pays the business' outstanding sales invoice, the funder takes back the percentages advanced, plus any fees.
Factoring is particularly useful for helping small to medium sized businesses manage cash flow.
About The Interface Financial Group (http://www.ifgnetwork.co.uk)
The Interface Financial Group (IFG) provides short-term financial resources including invoice factoring (http://www.ifgnetwork.co.uk/about.php) (invoice discounting). IFG launched the UK operation in 2010 following the success of its New Zealand, and Australia businesses which launched in 2004, and 2006. IFG's innovative products also includes spot factoring - the purchase of a single invoice or number of invoices. IFG does not require the whole debtor book.
The IFG Network is the funding arm of The Interface Financial Group providing capital and transactional support to IFG's international office network. IFG has grown to over (150) international offices in the UK, the United States, Canada, Ireland, Australia, New Zealand, and Singapore. Each IFG office is managed on a local level, providing immediate service to clients with local knowledge and experience. This makes IFG unique to all other Factoring Companies in the UK. The IFG team has substantial business experience and expertise in numerous diverse areas, including accounting, finance, law, marketing, banking, etc.
Media Contact: David Pearce, Director T: +44(0)845-834-0332 E:[email protected] W: http://ifgnetwork.co.uk/ Headquarters: The Interface Financial Group 31 The Old Wood Yard Hall Drive Hagley Worcestershire DY9 9LQ
SOURCE The Interface Financial Group