July 13 ,2016 | by Hari Sri

Finance provider teams up with accountancy experts to help SMEs

_Content

A leading UK finance provider has collaborated with accountancy experts to help small businesses control cash flow.

DueCourse will be working with top providers of accountancy packages, such as SageOne and Xero, to provide SMEs with a faster method of financing and enable them to free up valuable funds.

Digital

The new technology will provide businesses with a confidential contract-free service which is available for use with all online accountancy packages in the UK.

The service comes after research by ABFA showed that cash flow is one of the main barriers for small business growth in the UK.

The research found that businesses with a turnover of less than £1 million wait over 70 days on average to be paid by suppliers, while 46% of businesses said that they had been affected by at least one cash flow setback recently.

Solutions

Paul Haydock, CEO at DueCourse, explained that DueCourse created the service because the company realised that traditional methods of financing were too “inflexible and too slow”.

He said: “As an SME ourselves, we understand the problems faced by small businesses. Before starting DueCourse, most of our senior team worked in small businesses and experienced first hand the problems associated with lack of cash flow.”

Haydock added that by working with the accountancy platforms that are already used by SMEs, DueCourse can help more businesses to free up valuable funds so that they can “realise their ambitions.”

Hari Sri

Hari is the LSBF Blog's News Editor. He manages the editorial content on the blog and writes about current affairs, SME, entrepreneurship, energy, education and emerging market news.

Share on Facebook Share on LinkedIn +1
There are no comments posted yet. Be the first one!
Please write your comment, minimum length 50 characters
Please insert your name
Please insert a correct email address
We couldn't process your comment, please try again later