4/18/2018



There has been a tremendous increase in the alternative finance business across the country. But have you ever given a thought to what has fuelled the rise of these alternative lenders?

Even since the 2008 crash, the high street British Banks have been very reluctant to fund the start-ups and small businesses. This has resulted in the failure of thousands of start-ups and small businesses over the last decade.

This gave rise to another question; can small business owners trust the high street banks?

Even after facing rejections, the small businesses continued to trust the big banks. But due to continuous failed and fraudulent activities of banks made the UK SMEs think otherwise. One such event was of a bank actively working against small businesses for mere reason of gaining profits and bonuses. RBS was exposed for making up fees, imposition of high interest rates, acquiring equity and property from failed businesses and for gaining huge bonuses over it.

Although this was a publicly owned bank, its behaviour was not in the benefits of the public. This incident certainly made small businesses and start-ups avoid seeking financial helps from the high street banks.

Even today, certain small businesses and start-ups believe in their local banks and trust them when it comes to financial support. What they forget is that they simply cannot rely on local banks to fulfil their financial needs anymore.

The FCA’s report on RBS is another example of how much have the big banks fallen in the eyes of the business community. This leaves us with the fact that the high street banks are no more number #1 choice for small businesses and start-ups seeking financial support.

If a financial institution like RBS could perform such an act for the mere purpose of gaining profits, it definitely raises questions for business owners regarding the trust they have placed in all the traditional banking institutions.

Ever since the crash of 2008, the business community has become more aware about the fact that the banking community is no longer their go-to option for business finance.
This in turn gave rise to several alternative finances industries such as business cash advances, peer to peer lending and many more.

Start-ups and growing businesses require money for a variety of reasons such as growth and expansion, paying their employees and suppliers, proper functioning of their business activities, etc. Moreover, they require money instantly.

This was precisely the kind of help that RBS was meant to provide the UK SMEs rather than being a department designed purely for gaining profits. As disappointing as it is, the start-ups and small business owners have to now focus and research other funding options and choose an alternative finance options that is most suitable for their business.

For starters, there are various funding options that an alternative lender can offer. Some of these include:
•       Cash flow finance
•       Invoice finance
•       Property finance
•       Overdraft

Along with this, business owners even have to look for an alternative funding source where the treatment, rates, advices and repayment terms are clear, fair and the system they dealing with are transparent.

To give this new emerging industry a boost, it is specially backed by the UK government. Also, to increase trust of the small business owners in the alternative funding, it possesses transparency, responsibility, fairness and security. These are exactly the characteristics and standards a well structured financial institution should be providing its consumers.

No matter what financial crisis you are facing, you can seek advice from these alternative finance firms and much more. We certainly do not force you to seek their help but they are a good alternative for securing funds. If you are uncomfortable and have issues trusting them, there are several other options to secure funds such government grants and small business loans.

However, in the last few years, alternative lenders have become #1 go-to choice for small business owners in need of assistance and financial support. Consider this example of the business cash advance which is also referred to as a merchant cash advance. This type of funding is made available from £500 up to £300,000 and is advanced to the businesses against future credit and debit card turnover.

Once you are definite about the kind of funding suitable for your business, the money that is agreed upon is quick and there is no need to prepare a business plan or provide security over it. The repayments then made on the borrowed amount are a small percentage of daily card payment transactions, rising or falling in line with card turnover.

Thus, the flexibility provided by alternative finance firms is very attractive to start-ups and small business owners. Along with the flexibility, businesses should know that these products are specially designed for their needs and is exactly the kind of service that RBS had promised to provide its customers before mistreating them.

The only difference here is that the alternative lenders have earned the trust of the public and business owners and will continue to maintain that position through transparent and fair behaviour and also by putting these independent business owners’ needs first.

Although, the RBS claims and promises to have adapted a better culture since the crash, it is a long road before the UK SMEs start to trust them again. Meanwhile, we believe that the alternative finance sector is bound to emerge and succeed.

4/17/2018




Creating the perfect summer wardrobe selection might not be as easy as you might think. Yes, the warm weather helps us get rid of all the layering, but it is the ability of the chosen outfits to be mix and match that will be crucial for your choices. So let's see what are some of the essential steps for creating just the right sized wardrobe capsule for this summer.

Known for its industrial prowess, Surat has never traditionally been recognized as a tourism destination. The city was primarily known for its silk industry, and also for its large port. The city itself is on the banks of the Tapi River, and holds a huge spot in the colonial history of the nation- the Surat Castle is a testament to the struggle, as it was built to defend the city against invading Portuguese colonists.

Some of the best things to do and experience in the city of Surat are mentioned here: