Welcome

Welcome to the latest edition of Close Matters, our newsletter that brings you up to date with what's happening at Close and in the world of invoice finance. Find out how to protect your cash flow in a downturn, why so many SME businesses are missing out on new technology, check out our report from the biggest business event in the North West and catch up on our latest product news.

The last six months have seen ... more from CEO David Thomson

Changes to bank lending rates -
what does it mean?

Banks access to funds has always been through the wholesale money markets. Such funding is charged at a wholesale rate known as LIBOR (London Inter Bank Offered Rate). Funds are then lent on to customers at a retail rate - over Bank of England base rate. Historically LIBOR has predicted the direction of base rate and thus the status-quo has been achieved.
read more...

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Businesses on the brink -
maintaining cash flow in a downturn

There is no doubt that the financial downturn is hitting UK businesses hard, with economic conditions clearly the worst of recent times. We know that for those who rely on funding from high street banks the challenge is even tougher, as banks, who are increasingly reluctant to lend, increase their charges for overdrafts and commercial loans, or withdraw facilities altogether. read more...

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Using technology in business operations - is it worth the risk?

For the majority of businesses, using the latest technology can result in significant benefits; from improved time and cost efficiencies to potential new sales avenues. But, despite the obvious gains, recent research from Close Invoice Finance found that almost 8 out of 10 SMEs still conduct less than 20% of their business transactions online. read more...

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Close at Business North West

In November Manchester Central held the Annual Business North West Exhibition 2008, the region's premier business to business conference and exhibition event, which played host to over 170 cross sector businesses under one roof. read more...

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Invoice Discounting keeps cash
flowing at Pla@n:IT

For companies in the recruitment sector, the constant challenge is to have cash readily available, to pay wages for a high turnover of candidates placed with Clients. This reliance on cash liquidity means that many firms have already turned away from bank funding to invoice finance as a means of maintaining their cash flow. Pl@n:IT Recruitment Ltd, a recruitment consultancy specialising in placing people within the IT sector, is one such company. MD Mark Palfrey thought that the traditional banking service they were using was too expensive and decided to search for a provider that would be more cost effective, flexible, and able to better meet the needs of his fast growing company. read more...

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If you'd like to find out more about how Close's portfolio of invoice discounting and factoring services can support your business please visit www.closeinvoice.co.uk or call 0800 220 257 to discuss your requirements.