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When new developments arise in the public forum, particularly at an international level, whether or not a project goes ahead the attention drawn can often have huge positive impacts on the local area and business community. With a new runway planned at one of the two major international travel hubs from the UK, press attention on the businesses in and around Gatwick has increased as politicians, business, the public and the international community weigh in with their opinions on where a new runway would deliver the most beneficial impact.  Five separate polls from YouGov show there is keen support for Gatwick.In fact more than half of London’s 235 councilors who were polled (51%) choose Gatwick as their preferred location, with only 37% opting for Heathrow. Already the tides are turning in favour of Gatwick Diamond based businesses and those in the surrounding areas, as the opportunities for these businesses to take advantage of not only the new runway’s development but the spotlight on the business district takes effect as the debate heats up. Local employment is just one issue - Gary Peters, former chairman of the Brighton and Hove Economic Partnership says. “It (the new runway) will create 120,000 new jobs which is much needed for the Gatwick Diamond and local young people will benefit directly through a new apprenticeship fund that Gatwick will establish.” Here are some other stats that prove interesting from the YouGove data, where councillors were asked about their thoughts on which location would be the best choice for expansion:  As a business that works with many Gatwick based SMEs, we understand that often small firms can’t leverage this type of opportunity to its fullest, due to post-recessionary cutbacks in lending to SMEs by the traditional high street banks and business lenders.
So when you find the spotlight turned on your business and there are positive impacts such as new customers, new sales channels and new partnerships to take advantage of, how can you maximise the opportunity if cash flow is an issue (as it is for many SMEs)? Well Factoring and Invoice Finance have become a mainstream means to better finance a business in the last few years. Businesses can use their invoices raised to access cash from a factoring company who collects payment when the invoice is due. Usually this is at about 80% of the value of the invoice and a small charge is applied for the use of the facility. Many businesses find that invoice finance has considerable benefits as they are not tied into length long term loans, the cash is available almost instantly upon an invoice being raised and you can work with a factoring company that really understand your business niche - so make sure you find one that does, which is where we can help. Additionally, once the business achieves a certain level of profitability you may no longer need to finance via factoring and again, this flexibility proves invaluable to businesses. It can take time to find the right factoring company, set up such as facility and release the funds from your invoices, so if you are considering how impact such as a new runway may help you grow your business but are concerned about the stranglehold of late payment of invoice may have, then why not get started now on identifying the best deals in the market for your specific business. And have a look at our Top Tips for presenting your company to an Invoice Financier here. |
Hugh Craen
Hugh Craen has had over twenty years experience in the factoring industry. Categories
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Photo used under Creative Commons from Skley
