The UK’s energy crisis is one of the biggest talking points right now. Businesses are affected by the UK energy crisis in fundamentally the same way as households are: they will be paying more money for their energy bills.
Research from the Federation of Small Businesses (FSB) shows an electricity and gas bill increasing from £4,724.73 to £11,589.89 (+145%) and from £1,345.07 to £4,815.36 (+258%) respectively for a small business in London with commercial premises between February 2021 and February 2022.
Worryingly, this is something that is affecting both businesses and the public, therefore piling the stress and pressure onto the owners of SMEs. Added to the looming British tax rises on businesses, and inflation at a 30-year high, it’s clear to see why people have anxiety around their business finances.
Businesses that are not on fixed rates with their suppliers will experience significant increases in their rates. The high cost of these new bills will have a negative impact on businesses’ cash flow. WeDo was created to help businesses and business owners just like you. We have decades of experience in supporting clients to manage their cash flow and to increase growth and financial sustainability. Many business owners are thinking that taking on additional debt may help them to ride out the current crisis, but there is a solution.
Could Invoice Finance be a solution?
Invoice finance is a way for a business to release money against the amounts due from its customers. Invoice finance improves your business cash flow and is a great alternative to loans and fixed borrowing.
How does Invoice Finance work?
Put simply, you invoice your client and then send us a copy of the invoice. We work to send you up to 90% of the invoice total within hours, meaning you are no longer relying on that invoice to pay the next bills. We verify the invoice and terms with your client and wait 30-90 days for payment. When your client pays us, we send you the 10% balanced owed, minus a small pre-agreed percentage for the service.
Using this solution removes the need for high interest (and high risk) borrowing and has no impact on your credit rating.
Why choose WeDo?
We’ve done this for decades. In fact, our Senior Management Team has over a century of experience in supporting businesses just like yours. We are a group of entrepreneurs, strategic thinkers, finance experts and creative minds. We’ve worked through these crises ourselves and we’ve seen how businesses can put tools and strategies in place to survive such uncertain times.
You’re the expert in your business: You’ve got the contacts, know-how and ideas. We have the cash to support your ambitions and growth.
Whenever you win a new contract, we can make sure your cash keeps flowing and your bills get paid. It’s the perfect option for start-ups and recruitment businesses who want to grow without the worry of overstretching their cash flow, especially in times like this.