The mid-size and large companies in the UK are faced with a cash flow deficit that’s expected to account for £135 billion for the 2020-21 financial year. What’s the best source for reliable and affordable payment-processing services? Who can help you come up with the best bitcoin wallet UK? Find details below.
Business Financing Amid COVID-19: Best Bitcoin Wallet UK
COVID-19 has resulted in a dramatic drop in the UK’s economic activity. That’s the reason why so many companies are facing cash-flow hindrances. The borrowing from the government has reached a record high during the 1st 6 months of the financial year. The virus-related situation has further added to the public deficit.
PWC (PricewaterhouseCoopers), a multinational network of companies, forecasts a significant rise in the 2020/21 budget deficit. The latter is anticipated to reach almost £380bn – £430bn, thus representing nearly 19% – 22% of GDP for 2021/22.
In such situation, using the right merchant services should be a priority for you. To reveal the best payment-processing services for your company, turn to a respectable merchant-services comparison expert in the UK.
A reputable payment-processor comparison specialist in the country will guarantee fast and easy access to the safest and cheapest merchant-processing solutions, including the best bitcoin wallet UK.
COVID-19-Related Business Funding Options in the UK
Let’s go through several small-business funding options you can apply for in the UK to sidestep the COVID-19-related economic difficulties:
· Business Loans
You can get these by applying to traditional lenders. If you aren’t eligible for traditional sources, consider turning to a reliable alternative lender or credit broker.
· Invoice financing
This is a useful option for merchants who rely on invoices.
· Merchant Cash Advance (MCA)
An MCA, which isn’t a loan, is the fastest access to the capital you need for your business. It’s ideal for those who receive lots of card payments.
· Personal Savings & Investments
This can be the best choice for those in need of quick funding for their businesses. Your own funds won’t put you under great repayment pressure.
· Sale of Personal Property
By selling your personal property and assets, you can avoid accumulating debt.
· Sell Assets
This common means allows for freeing up sources of internal finances.
· Share Capital
This is a fine option for small businesses operating as a limited company. It can help you raise capital internally.
So, COVID-19 has put so many merchants in a hopeless situation all over the world. The unexpected decline in revenues creates a cash flow deficit. The above-mentioned funding options can help you obtain the necessary financing for your struggling business in the UK.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of best bitcoin wallet UK. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie with ice-cream on his backyard porch, as should all right-thinking people.