Detailing the successes of a midland-based SME, the Express & Star recently published an article concerning Bluechipworld Sales & Marketing and their aim to almost double their £7 million turnover in the next year.
As an importer of mobile device accessories from the Far East, Bluechipworld, based in Cannock in Staffordshire, have grown significantly in the past five years. But now, thanks to a new trade finance agreement with Bibby Financial Services, the business is set to expand into new markets, both in Europe and beyond.
It’s great to see success stories like this, from businesses fulfilling their potential. But what exactly can funding sources such as Trade Finance (also known as Purchase Funding) offer to developing businesses?
Well if you are a small or medium sized enterprise, interested in reducing cashflow pressure when purchasing and selling goods from within – or outside – the UK, then hopefully the following introduction will help.
The term Trade Finance describes the process of managing the capital required for trade to flow. And whilst there a number of different definitions available, it essentially means that if you are purchasing goods from overseas, or within the UK, you need to have the cashflow available to purchase the goods.
But what if you don’t have the necessary cashflow available to you? Well, services that provide suppliers with upfront payment and additional funding against customer invoices are a viable option for businesses. At Bibby Financial Services this is called Purchase Funding with Invoice Finance.
Purchase Funding with Invoice Finance
Purchase Funding with Invoice Finance is a package for UK companies that provides funding of up to £8 million to purchase finished goods from within the UK or overseas, in order to fulfil confirmed orders from customers. This support through the entire sales process, from the purchasing of goods to customer payment, is an excellent solution that can help maintain a healthy cashflow.
As the West Midlands firm Bluechipworld have already demonstrated, services like Purchase Funding with Invoice Finance can help SMEs take control of their cashflow issues, allowing business growth and reduced pressure.
For further information about Trade Finance and Purchase Funding with Invoice Finance, visit Bibby Financial Services online now.