Counting on cash flow.
The strong pound is having a negative effect on the cash flow of the UK's manufacturing businesses. This is where premium finance can be a great boon - and there are benefits for the broker too. Steve Banner explains.
Although sterling has recently weakened against the euro, UK-madeproducts remain expensive compared with equivalent items sourced from
other members of the euro zone. Unable to increase prices, exporters are
looking for ways to cut overheads and boost cash flow; and that is where
independently-sourced premium finance comes in.
"It's cheaper for a broker's client than using bank finance, and means
that their lines of credit with the bank aren't tied up," explains Simon
Horswell, sales and marketing
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