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Specialist international trade finance provider Bibby Financial Services is
calling on import business owners and managers to consider their inventory and
ensure sufficient finances are in place to fulfil orders in advance of the
festive season.
In the months from June to August, there is a flurry of import activity as
companies look to guarantee that goods from around the world are ordered in time
for Christmas.
Bibby Financial Services is urging firms to make cash flow preparations so that
they don’t experience a funding bottleneck when trying to meet an increase in
orders.
Andy Meadwell, international trade finance spokesperson for Bibby Financial
Services, commented: “Firms must ensure they plan well in advance, particularly
when importing goods from outside the Eurozone, and consider the various funding
options available to meet this increased activity and keep the cash flowing.“
Many businesses experience cash flow difficulties during this period, leaving
them with poor financial liquidity and little funding available for crucial
business activities such as marketing and staffing during the lead up to
Christmas.
In 2009, there were 4,716 insolvencies in the third quarter of the year, a rise
of 14.6% on the same period a year earlier.
The figures indicate the ever increasing pressure of Christmas orders and the
challenge of balancing the purchasing of stock whilst maintaining the flow of
cash.
Meadwell continued: “The ability to ensure that orders can be fulfilled,
customer payments are received and cash flow is healthy, is often the difference
between business success and failure.
"Funding options such as Bibby Financial Services’ International Trade Finance
package can offer UK importers up to 100% funding against confirmed orders, and
then an ongoing supply of funding against invoices raised once the goods have
been delivered to customers.
“As a global service provider we have the knowledge and expertise to truly
understand international trade, and believe that importers who act now will be
ready to meet the demands of Christmas orders.”
Source: Credit
Control Journal
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