You may or may not be familiar with invoice financing (and if you are not, this previous blog post might help).
As part of their Small Business Bill, the Government has recently announced that they will be lifting restrictions on invoice financing. This is expected to help small businesses by allowing them to raise finance off large unpaid invoices from bigger companies, something which is of greater importance now that it takes on average over 70 days for a small business to be paid for an invoice – something which has a large impact on its day to day operations.
So with these restrictions due to be eased next year, it opens up another alternative to small businesses that are looking to raise finance to grow or expand. And with access to finance being a major obstacle to any growing business, the more possibilities there are, the better the outlook.