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Writing a business plan is one of the most important steps any founder or business owner can take. A well written plan sets your direction, defines your goals, and helps secure finance. But while many business plans focus on revenue targets and market opportunity, too few directly address the everyday realities of running a business in the UK today. One of those realities is this: clients often pay late.

Late payments to SMEs UK are suffocating the economy. The cost to the economy has now reached a staggering £11 billion per year. With thousands of viable, growing businesses forced into decline because of unpaid invoices and slow customer payments. In fact, nearly 40 UK SMEs close their doors every single day as a direct result of disrupted cash flow.

Accessing funding be a major challenge for B2B businesses. With traditional lenders tightening criteria and timelines from enquiry to receiving finance increasing. Businesses can find themselves choosing between two main options: recourse factoring vs bank loans. Understanding the differences between these two funding routes is essential for making a confident, informed decision.

Switching funding provider can be both daunting and sometimes urgent. Especially when it is triggered by a service withdrawal rather than a strategic choice. With a large bank scaling back funding services. Many UK businesses have found themselves without the tailored support they once relied on. While the need for continuity is immediate, the opportunity for improvement is just as pressing.

Cash flow troubles are more than just a temporary inconvenience. They are often the early warning signs of deeper financial instability. For all UK businesses cash flow is the lifeblood of day to day operations. Yet, it remains one of the most misunderstood areas of financial management. In recognition of Financial Awareness Day this August, now is the perfect time for businesses to assess their financial health and take steps to build greater resilience.