Yet another noob checking in

[Ian J]

Hi everyone. I'm a commercial finance broker specialising in factoring and invoice discounting but also covering other areas like trade finance.

Now that I've found you I will look in regularly to see if there are any questions that I can help out answering as I have run a variety of businesses in the past ranging from a newspaper and a restaurant through to an engineering group.

[peterjhale]

Hi Ian and welcome

We may definately need your advice

Any pointers you can provide ?

[Ian J]

[QUOTE=peterjhale]Any pointers you can provide ?[/QUOTE]


Factoring and invoice discounting has been growing at a tremendous rate in the past few years but much of the growth has been at the expense of bank overdraft lending as the banks have been busily shunting off their SME customers to their factoring subsidiaries where the rewards are higher and the security better.

One problem that I see from my business forum travels is the large number of posts from people who want to raise money for a venture that they haven't fully thought out. If people were to think out their idea fully and then prepare a business plan to show how they view the business progessing financially it would make life much easier when trying to raise finance.

[peterjhale]

ah business plans.......everyone seems to believe they are important but just don't get around to it.

It saves a lot of heartache in the long run - especially when you see you cash disappearing at a rate of knots because the big boys haven't paid you yet.

Get a plan I say