We looked at the market in some detail and decided that an independent commercial finance company with good experience in the SME market and specifically the PR industry – which IGF had – would be the best partner for us. 
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Summer can cripple cashflow, warns IGF
Small firms in the UK may want to view the run-up to summer as one of the most crucial times of the year when it comes to their cashflow, warns IGF, one of the UK's leading independent commercial finance companies. In addition, 2010 may be particularly difficult, as a direct result of the World Cup mania. Many people may take time of work to see the matches or even throw the occasional sickie. The result of which may mean that cashflow can suffer because many finance staff and signatories (Company Directors) take holidays or time off over the season.
During the summer months, many business owners have to resort to costly bank overdrafts to see them through or, worse still, the company credit card, both of which can exacerbate their weak cashflow positions in the short term.
This problem seems to be getting worse every year, even more so with this year's World Cup affecting the rates of absenteeism; and it can definitely be a contributing factor to the number of start-ups, micro-businesses and even established small firms that go under in the UK.
Small businesses may wish to consider using invoice finance – effectively, a cash advance on all invoices raised - to enable them to meet the challenge of any potential cashflow problems that arise over the summer period.
Tracy Ewen, Managing Director at IGF, warns:
"The Summer period right up to the first weeks of September are often a critical time for small businesses. This will be made worse this year as a result of the World Cup period. Managing Directors, clerical assistants and finance department staff are more likely to be away during this period than at any other time. As a result, payments often don't get made, cheques don't get signed and small businesses can experience real problems with cashflow at this time."
She continues:
"The repercussions of the summer holidays and World Cup sickies could be a lot worse for many smaller firms if they come back after the summer break to find that there isn't sufficient cashflow in the business to keep them going until new orders start coming through."
"IGF is aware of the additional pressure that the summer season places on our clients' cashflow and in order to help them we do have the ability to offer additional assistance. The sunny months can be a difficult time and we are keen to ensure that our clients can have a peaceful and stress-free summer."