Committed to providing innovative financial solutions for the UKís rapidly evolving small business community, specialist cash flow provider Bibby Financial Services has launched ëFast Trackí, a new funding solution for start-up and fledgling businesses.
With the first three months of 2006 seeing a 15% rise in the number of small businesses failing compared to the same period in 2005*, Fast Track has been developed by Bibby Financial Services in response to the lack of flexible and easy funding solutions available to those setting up their own business.
Fast Track combines funding against the value of sales invoices, a dedicated payment collection facility and a BACS payment service to assist with payments to suppliers and staff, providing a comprehensive solution which injects cash into the business, while taking the burden of chasing customer payments away from the busy owner-manager trying to establish the business.
As the business secures sales, Bibby Financial Services will release up to 90% of the value of invoices within 24 hours of them being raised with no lengthy contracts which tie you in unnecessarily, no minimum fee for the first three months and no concentration limits, which often penalise businesses with large debtors.
David Robertson, chief executive of Bibby Financial Services, commented: ìIn the early stages, many businesses struggle to be taken seriously by traditional lenders, with the banks and venture capitalists gearing their solutions in favour of larger companies, with new start businesses expected to simply fit in. With 4.3 million start ups and small businesses across the country**, accounting for 99% of the UKís registered companies, this approach is extremely short-sighted.
ìFast Track has been developed with the new owner-manager and the pressures they face in mind and is designed to provide an easy funding solution which helps new start businesses get off the ground quickly.î
Available to start-ups and early stage ventures, Bibby Financial Servicesí Fast Track solution also provides owner-managers with a bespoke new start package, containing invaluable advice and guidance on how to make their business a success.
For further information about Fast Track for new start businesses and Bibby Financial Services, please call 0800 919592 or visit:
Bibby helps start-ups on Fast Track to success
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