As business insolvencies reach a 13-year high, we sit down with Managing Director of Invoice Finance, Phil Chesham, to discuss the road to recovery and how alternative finance can be the key to preventing more viable businesses from going under in 2023.
Running a business is a challenge in itself
There’s no doubt that starting and running a business is no easy feat. It takes a great deal of effort, dedication, and hard work to make it a success. On top of the everyday challenges of running a business, 2022 gave firms high inflation, soaring costs, supply chain challenges and weakening consumer demand to contend with. This was on top of post pandemic recovery and the repayment of many Covid-19 support initiatives.
Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans. Time Finance can fund businesses or arrange funding with their trusted partners through Asset Finance, Invoice Finance, Business Loans, Vehicle Finance or Asset Based Lending.