Touch Financial supporting #BuildingBritain - Image

Touch Financial supporting #BuildingBritain

With the Governments planned investment in various new construction projects taking place throughout 2014 and 2015, some of the largest construction firms throughout the UK have been showing their support through #BuildingBritain. But this growth in UK construction is not only reserved for the largest UK construction firms. As a smaller firm, you can also make the most of the £36 billion planned investment in infrastructure if you can overcome one of the most significant challenges when competing against top construction firms…accessing the finance you need.

What opportunities are available for Small to Medium Sized Construction firms?

The Government have set aside a huge £36 billion pot to invest in construction projects throughout 2014 and 2015. New homes, bridges, railways and roads are all a part of the #BuildingBritain plan and present a huge opportunity for all sized construction firms and contractors to grab a slice of the action.

How can smaller construction firms and contractors compete for these new projects?

At Touch Financial, we focus on aiding firms to take the opportunities they are presented with. #BuildingBritain is one such example of where we may be able to help out. Competing against larger construction firms for projects such as those within the #BuildingBritain phenomenon can be difficult, particularly when there is a heavy strain on the cash you have available.

When it comes down to it, it is likely your firm could achieve so much more if there was the cash available to invest in the resources such as labour, materials and other components required in order to accept those larger, more lucrative projects. This cash is often available to you, but only if you know where to look.

As a contractor/construction firm, how can you access the working capital you need?

At Touch Financial, we offer an entirely free recommendation service where your options for raising capital are assessed. In the case of the #BuildingBritain phenomenon, this is likely to come in the form of invoice finance. If you have heard of invoice finance, you may be aware of the cash which can be accessed simply by proving you have a future income in the form of an unpaid invoice / applications for payment / retention\’s ledger from your customers, whom may well be the Government.

How does invoice finance work?

Invoice finance takes the invoices you are awaiting payment for, perhaps in the next 30 to 120 days, and advances you a value of that cash so you no longer have to wait for the agreed terms to be reached. This provides you with the capital to cover those resources you may have previously been unable to pay up front for. This could reap significant discounts from your suppliers as you can pay them early; it can help stabilise your business’s cashflow and, most importantly, increases the size of the projects you can access as the cash you have available increases with the size of the related invoice.

#BuildingBritain is an exciting time for those construction firms and contractors involved. Take a look at the “We are #BuildingBritain” Tumblr page here to keep up to date with some of the latest developments (this is also where the image used in this article is from).

To learn more about invoice finance for construction firms and contractors, follow this link to our services page. To find out how much an invoice finance facility will cost, visit our Calculator tool here.

If having a five minute chat to a consultant (entirely free of charge) if the better option for you, click on the

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