Leading Turnaround Network opens new offices in Birmingham

Read any business newspaper these days and it is difficult to avoid references to negative equity, higher prices on food and petrol and or course the credit crunch. As the economy threatens to move into recession and banks tighten their lending criteria many Birmingham businesses are struggling to raise business finance and in some cases are seeing their credit lines withdrawn altogether. It is therefore refreshing to hear a good news story which will benefit thousands of business in and around the Birmingham area.

Beer & Young, a national company with Head Offices in the City of London, specialises in raising new capital quickly for companies experiencing cash flow pressures, creditor problems and banking difficulties. The company which is celebrating its tenth anniversary this year is opening a new Birmingham office with the aim of helping the growing number of businesses in Birmingham and the surrounding areas who are cash starved as a result of the current trading environment and credit crunch.

Nicholas Young, Managing Director, has noticed a sea change in the needs of clients in 2008. “Over the past few years the market has been awash with easy and cheap credit but now we are seeing clear signs that the credit crisis which has hit the property market hard has spread to the small and medium business. More and more companies tell us that whereas last year the bank would normally extend the overdraft to ease a temporary cash flow today bank managers more likely to review the overdraft limits downwards, thus adding to cashflow pressures.

To meet the growing demand for equity B&Y has opened a new office located on the Birmingham Business Park near the NEC and a Regional Director, Brian Rutter has been appointed to spearhead this expansion. Brian says “we definitely want to hear from those companies who are experiencing cashflow difficulties for whatever reason this might be. We will always offer simple and practical advice and can raise new equity based capital quickly via our extensive network of over 1000 investors or business angels.

“We are also keen to hear from professional introducers who wish to work with us. B&Y has built its business almost entirely by personal referral and are comfortable working with bank managers, asset based lenders, accountants and consultants. We are definitely not in competition with these companies; indeed our belief is that we have a win, win, win situation. The client receives new equity capital and the bank/lender, accountant and consultant retain a successful client.”