The national competition, which is aimed at small to medium sized enterprises (SMEs), enables a business to win a free finance facility for a year. Dependent on business turnover, this will save the SME up to £15,000 in fees over the 12-month period and will prove how the Inspired Cashflow product can help them grow.
The product allows businesses to access money tied up in their invoices for just one simple fee, based on sales turnover, with no set-up fees or hidden charges. It was developed in response to recent research conducted of 1,000 SMEs who said there is a need for straightforward and honest finance. Many SMEs highlighted the issue that banks are still restricting lending making it even more crucial that an affordable finance solution is now on the market.
John Atkinson, Head of Commercial Business, Hitachi Capital Invoice Finance said: “The competition is a brilliant chance to show how beneficial Invoice Finance can be. The new Inspired Cashflow product is an important step forward for the industry. It breaks down barriers between businesses and Invoice Finance and is designed to prompt SMEs to take a fresh look at their business finances to improve cash flow, helping them grow faster!
“Over half of SMEs don’t understand how Invoice Finance works or have never heard of the product before, and new research also shows that over forty percent of SMEs would consider using Invoice Finance if they knew more about it. We hope this simple product and the competition will introduce companies to this alternative method of finance.”
For more details on the competition and how to enter, please visit: www.hitachicapital.co.uk/
To be eligible to apply, the company needs to be based in England or Wales, sell services/products to other businesses (not consumers), have traded for at least 12 months and never used Invoice Finance before. The winner will be chosen by a panel of experts in the industry, who will look at those businesses which have the biggest potential for growth and development.
Notes to editor:
Hitachi Capital Invoice Finance provides cash-flow solutions to over 365 SME’s across a wide range of sectors in the UK and places great emphasis on the proactive support it offers to UK SME’s. For more information please visit www.hitachicapital.co.uk/
For further information:
Please contact Amanda Fox at Hatch Communications on 01943 855630 or email Amandafox@hatchpr.co.uk or tomhemingway@