Supply chain finance gets mixed reception
The government's new supply chain finance initiative has drawn a mixed reaction from vendors, AccountingWEB members and even government officials.
Last week, David Cameron announced the plan, which he claimed would see £20bn of cheaper financing open up to smaller companies.
Under the initiative, which was recommended by the Breedon taskforce on non-bank finance, large firms will notify a small firm's bank as soon as an invoice has been approved. Then, the bank will advance immediate funds at a lower rate of interest.