Figures released by the Bank of England in June show that bank lending to small and medium sized businesses rose by more than £600m in the first three months of 2015.
Many companies, though, still find it hard to get their bank to say yes, and for others banks might not be the best source of finance anyway. So if you are struggling, to where can you turn? Luisa Grey takes time out from her duties as Director at Eazipay Ltd, one of the UK’s largest Direct Debit processing companies, - and being a “been there got the tee shirt” sort of woman - to run you through some of the options.
“Simply staggering,” is how Luisa Grey, a director at Eazipay, one of the UKs largest Direct Debit bureaux, reacted to new figures claiming that SMEs are forking out around £10 billion a year chasing late payments.
The figures released by Bacs Payment Schemes Limited (Bacs) show that while the overall late payment burden shouldered by the nation’s SMEs has fallen by about £10 billion - down from £41.5 billion in 2014, to £31.3 billion today, the cost of recovering monies owed to them has risen to an all-time-high of £10.8 billion. This cancels out any gain from the overall reduction.
New figures reveal that generous Brits continue to dig deep for charity, with a huge 60 million Direct Debit donations made last year.
The processing data, released by Bacs Payment Schemes Limited (Bacs) – the not-for-profit organisation behind Direct Debit in the UK – shows that two million more of these donations were received by charities in 2014 than the previous year.
Conventional wisdom has it that Christmas parties are held around, um, Christmas.
Eazipay, however, has never been a conventional company * which is why we decided to hold our Christmas Do in April.
Cambridgeshire-based Eazipay Ltd, the UKs largest Direct Debit processing company, is celebrating another record-breaking year with the announcement that by the end of 2014, the company had processed almost £330 million in Direct Debit transactions on behalf of its clients.