Newsletter: March 2010 Are you wasting money? Dear Colleague Sounds like a trick question - but it's all too easy to be paying over the odds without realising it. In this edition of the newsletter we have two concrete examples of how simple it can be to make cost savings. Maybe you could do the same? With kind regards, Julie Blackman Businesses turn to brokers Many finance companies have tightened up their pricing approaches in the current economic climate. This means the services offered by a broker are increasingly attractive - something that's borne out by our recent survey of 100 SME businesses. We asked them how likely they were to use a broker to find them business finance compared with this time last year. 35% answered "more likely" and the rest reported "no more or less likely". With finding the right deal increasingly difficult, it's no wonder that businesses are turning to brokers. At Cashflow Acceleration we have established relationships with all the top finance providers and extensive access to the latest offers, and it costs nothing to request an invoice finance quotation search... WOULD YOU LIKE TO SAVE 50% ON YOUR COSTS? That's what happened to a recent client, thanks to our free independent search service. The client was using a recourse factoring facility provided by a bank-owned factoring company, but we found them an alternative provider which cut their combined annual service and discount charges by a massive £6,000. Read the full story here ... Watch out for minimum base rates We've recently seen several prospective clients who are paying discount charges over a minimum base rate, sometimes as high as 4.5% to 5.5%. But the bank base rate is currently just 0.5% - so for a business using funding of £100,000 this could equate to an additional £4-5K per annum in charges! We can find you a provider that uses actual base rate or one on that has a very low minimum, such as 1%. If you would like to see if we can make you a saving, without obligation or incurring any cost, request an invoice finance quotation search online... Questions or comments? E-mail julie@cashflow-acceleration.co.uk or call 01892 785918. Visit our website at www.cashflow-acceleration.co.uk Cashflow Acceleration Limited, The Balaclava, Pell Green, Wadhurst, East Sussex, TN5 6EE