InterTrade Ireland helps small businesses in Ireland and Northern Ireland explore new cross-border markets, develop new products, processes and services and become investor ready.
Currently, InterTrade Ireland through their Funding Advisory Service Workshops in partnership with Grant Thornton, are assisting SME’s to acquire the knowledge and skills to secure sources of finance to grow their business. These Advisory Service Workshops are free events that are hosted in various locations across Ireland.
Yesterday’s event was hosted in Belfast and attended by a mix of SME’s and professional advisors across a wide range of sectors. This was a very relevant audience for InvoiceFair who outlined their Innovative working Capital Solutions to solve the challenges of cash flow management for growing SME’s.
Some of the key points raised discussed business planning in relation to funding. Grant Thornton’s Richard Martin shared insights on “the cocktail of funding options” available pointing out that “Businesses don’t fail from poor planning, sales or market share, they fail because they run out of cash”. BOI presented their traditional approach and products to funding SME at all stages of development and emphasised the need for a comprehensive business plan.
Kernel Capital who have provided over €60 million in VC funding supporting SMEs on the island of Ireland providing funders with average IRRs of 23% outlined the importance of experience, track record and intelligence as key requirements in the management team. Kernel shared a number of recent investments across a wide range of sectors and the added value that they bring through their experience and sectorial connections.
Peter Brady, InvoiceFair’s CFO was invited to take part in the panel “The Company and Funders’ Perspective”. Included were Neil McCabe, of Whiterock Capital Partners, Chris Stewart of Funding Circle, Patrick Dewar of Invest NI.
The panel shared their experiences and product offerings. Peter outlined the innovation in the Invoicefair Model the legal framework being that of a “sale of an asset” and how their Platform opens up Capital market funding to SMEs for the first time ever and allows them to trade:
– Approved Invoices
– Purchase Orders & Contracts
– Recurring Revenue
Releasing cash flow at their pace on their own terms without security and restrictions associated with traditional models.
If you did not get to attend and or are interested in learning more about InvoiceFair you can contact to us directly at firstname.lastname@example.org and we will be delighted to discuss a working capital solution with you.