Financial Directors kept awake for all the wrong reasons
about company cashflow are keeping UK Financial Directors (FDs)
awake at night according to recent survey results from Asset Based
Lender Venture Structured Finance*. Conducted amongst FDs in small
to medium sized organisations, the survey found that 88% of FDs who
manage an annual turnover of £100 to £120m admitted to cashflow
anxieties. This is in stark contrast to their smaller counterparts
(£10 to £50m turnover), where only 43% experience similar anxieties.
The survey findings seem to suggest that the bigger the company
turnover, the greater the cashflow concern. Finding
appropriate funding solutions is a major cause for concern with
companies being let down by financiers that are failing to deliver
on funding promises. 26% of FDs surveyed stated that when trying to
secure finance, the actual level of funding received was less than
initially agreed. At a regional level, there are a few
surprises with finding capital for growth proving to be an issue
causing anxiety amongst the survey respondents. 25% of companies in
the North West expressed real concern about finding funding for
future growth, a significantly higher proportion in comparison to
the lower UK average of 19%.
Neil Topping, Regional Director of Venture Structured Finance
comments:- "Government figures demonstrate that the trend of
business growth continues throughout the North, so it's not
surprising that given the current economic outlook many businesses
are concerned about debt availability in the short to medium term.
Structured Lending provides businesses with a flexible source of
funding and is designed for situations where a significant funding
need is identified, including buy-ins, buy-outs, restructuring,
refinancing or turnaround situation."
The time lag between issuing an invoice and receiving payment can
cause real cashflow problems. Combined with the risk of late and
failed payments, poor cashflow can cripple a fragile business. Asset
Based Lending offers a flexible and robust option enabling
businesses to secure working capital against invoices and stock,
plant & machinery and property as well as future revenue streams. It
is a form of finance ideal for significant business opportunities
including acquisitions and company growth.
Chris Hawes, Managing Director of Venture Structured Finance,
believes that Asset Based Lending can offer Financial Directors
healthier and more flexible options to achieve ambitious objectives.
He comments:- "Asset Based Lending presents a viable
alternative to traditional funding methods. The level of capital
provided is based on the value of the business' existing assets and
executed business i.e. invoices awaiting payment, exposing the
financier and the client to reduced levels of risk."
Venture Structured Finance provides Asset Based Lending facilities
of between £3 million and £50 million for businesses with a turnover
of up to £200 million.
Current clients include the Nield Group - one
of the UK's largest independent wholesalers and distributors of
toiletries, health, beauty and household products - and Jenks, the
UK's leading sales channel service provider.
information on Venture Structured Finance or Asset Based Lending
* Conducted via telephone amongst 100 respondents
Want you back, want you back for good…
phenomenon is hitting offices across the North West, as employees
are returning to their old jobs. The trend, named ‘boomerang
hire’, has been exposed in research by car hire firm Enterprise
Rent-A-Car and reveals that 24% of workers in the North West have
moved onto pastures new, only to find that the grass isn’t actually
greener on the other side. As a result they have gone back.
The study goes onto reveal that 32% of employees are considering
returning to their old jobs, so don’t be surprised to see an
ex-colleague come a-knocking! Although contrary to popular belief,
only 3% of the population are truly unhappy at work, deeply
regretting leaving their last role. Unexpectedly, men are much
more nostalgic than women when it comes to their ex-employers, with
37%, vs only 17%, considering returning to their old job. So
how do people go about getting their foot back in the door? Well 34%
own up to keeping in touch with their old bosses - just in case.
Donna Miller, European HR director for Enterprise Rent-A-Car
comments:- “Having observed ‘boomerang hire’ activity for
real, with 68 employees returning to Enterprise in the last 5 years,
the findings of our study clearly mirror the reality. Keeping
in touch with the best employees after they leave is something done
by far too few companies. It’s not a matter of poaching them back,
but often employees give something new a go and it just doesn’t work
out for one reason or another. Employers should be there with arms
wide open, although only if they’re worth it!”
The results of the survey, carried out in association with YouGov,
go onto reveal more about the workforce in the North West and their
employment habits. The main reason cited for leaving a job was
being offered a better role elsewhere (37%), proving our
opportunistic attitude when it comes to work. Pay comes high on the
list, with just over a 1/3rd admitting that they have handed in
their notice because they weren’t being paid enough. Personalities
and company politics also play a part with 19% citing a reason for
leaving was because they didn’t like the people and the company.
The good news for employers is that job loyalty seems to be quite
high in the North West with 40% of respondents believing that they
will only have between 2-5 jobs in their lifetime!
4% still hope
they will have a job for life and the modern-day career nomads (6%)
believe they will have had more than 16 jobs before they retire –
that’s a new job almost once every 3 years!
Let us know if you have left and
returned to your old place of work by emailing our news room at