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Ultimate Business Cash will â&#x20AC;&#x153;Show SMEs the money!â&#x20AC;? September 2, 2013

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With 99.9% of businesses in the UK being classed as a Small to Medium Sized Enterprise (SME), contributing almost 60% to private sector employment and 49% of private sector turnover the fact that they are considered the lifeblood of the economy is an understatement. Yet many of these businesses suffer from late payments, with recent research from Bacs Payments Ltd suggesting that the average SME has to wait up to 8 weeks beyond due date to see any money. The total late payment debt is said to be at over ÂŁ30.2bn with an overdue debt owed to businesses of ÂŁ31,000. The research also suggests that more than half of the UKs SMEs are dictated terms by larger businesses with 44% reporting that larger businesses are the greatest offenders with regards to paying late. This is particularly concerning when we consider that a primary reason for business failure is due to cash flow which can be driven by late payment. So what options are available to businesses to protect businesses from falling into cash flow difficulties? Businesses can attempt to seek finance from traditional sources such as business loans or overdrafts from banks. However, overdrafts, which has historically been considered as a key method of short term finance has seen a reduction in their demand by 12% to 14% between June 2012 to Feb 2013 according to research from The Department for Business

Innovation & Skills. 32% of SME businesses that sought finance in the 6 months to Feb 2013 could not get the finance they required, 3% more than in June 2012. 8% still did not know whether their applications were successful which suggests that the speed for getting a decision is not as swift as many businesses would like. What is clear is that small businesses don’t have the luxury of their larger counterparts of turning to syndicated financial opportunities or the capital markets for funding. In addition these businesses who need cash from business loans will find it both costly and or extremely difficult to obtain. Banks will often seek significant levels of data in an attempt to fully understand a business’s current financial profile and to understand their future strategy in order to gain sufficient comfort to approve a business loan or overdraft. This underwriting process can potentially take weeks if not months, which for many SME businesses is too long noting the pressures many will face with late payment. Businesses can always seek to get their money in quicker from their debtors, or speeding up stock-turn. However, with their debtors likely to be suffering the same pressures of lack of available or higher cost. However, alternative methods of funding can be sought, for example short term business loans that seek to offer sums based on a preset algorithm, which seeks to identify a business’s credit risk profile and ability to pay a loan. Ultimate Business Cash is a new product that can offer businesses the ability to obtain a short term business loan up to the value of £35,000 which can relieve the potential cash flow pressure that many businesses face. A major comforter of using Ultimate Business Cash is that it is part of a seasoned SME B2B provider of finance, Ultimate Finance Group Plc. As a business that has successfully serviced the needs of the SME business environment for 11 years we understand the requirements of the SME business community and are ready to help where we can by responsibly offering swift, affordable and simple funds to SME businesses that need our support.

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