CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Hitachi Capital Invoice Finance comment on Government relaxation of Invoice Finance rules
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Hitachi Capital Invoice Finance comment on Government relaxation of Invoice Finance rules PDF Print E-mail
Thursday, 13 August 2015

John Atkinson, Head of Commercial Business at Hitachi Capital Invoice Finance, said: “Finally, a government measure that can really help small businesses.

“Although steps have been taken to try and tackle late payment, it remains a huge problem and continues to stunt business growth. Research conducted among our SME clients has revealed that 30 per cent have invoices settled after 60 days and the worst offenders can take up to 121 days to make payment.
 
“The incoming changes, which are facilitated by the Small Business, Employment and Enterprise Act 2015, will empower SMEs to increase their cash flow by giving them the option to use outstanding invoices as security. Unpaid invoices are the biggest asset some small businesses have and the law has been unfairly stacked against them until now.
 
“Invoice finance can soften the blow associated with late payment, allowing SMEs to plan ahead with greater certainty from a more confident cash position. It is often available to businesses that have been turned down for other sources of finance.
 
“However, while this is a positive step, some SMEs are sceptical that a change in the law alone will be sufficient to alter working practices. Some larger corporates may be reluctant to let go of the power position they hold in trading relationships and some may even look for alternative ways to block invoice finance. It is vital that SMEs fight their corner and seek support from industry bodies to seek a fairer deal.”

(Source - Hitachi Capital Invoice Finance Comment)
 

 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197