The Stone Company UK's Strategic Partnership with Novuna Business Cash Flow
The Stone Company UK Ltd, a renowned provider of high-quality work surfaces, faced financial strain during the COVID-19 pandemic and Brexit. In order to regain stability, they replaced an unsupportive finance provider with Novuna Business Cash Flow, leading to strengthened cash flow, and fuelled significant business growth.
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The Challenge: Navigating a Tough Financial Landscape
The Stone Company had used invoice finance for several years. They appreciated its benefits in supporting their cash flow but found the relationship with their provider very one-sided. The onset of the COVID-19 pandemic and the uncertainties brought about by Brexit placed considerable strain on the business. During this challenging period, The Stone Company found their incumbent provider’s approach to be increasingly unsupportive and self-serving, leading to a breakdown in the relationship.
The Solution: Partnering with Novuna Business Cash Flow
With the help of David at Byford Commercial Finance, The Stone Company met Syed Husain from Novuna Business Cash Flow (NBCF). From the outset, the difference was stark. Syed's approach was personable, proactive, and solution-oriented—qualities that had been sorely lacking in their previous relationship. This fresh perspective and the promise of a clean slate were exactly what The Stone Company needed.
One of the key factors in their decision to transition to NBCF was the availability of robust Credit Protection cover. Novuna was able to offer the financial security The Stone Company needed, ensuring that their operations could continue without the looming threat of credit risks.
The Impact: Financial Growth and Stability
Since joining Novuna Business Cash Flow, The Stone Company has experienced significant growth and improved financial stability:
- Monthly invoicing increase: Up from £400,000 to an impressive £600,000-£700,000.
- Credit protection cover: Invoicing growth has only been possible with the support of the Credit Protection cover, growing alongside turnover from £600,000 to £1.3 million.
- Customer base expansion: New clients have been taken on and revenue streams have been diversified.
The support from NBCF has been a crucial factor in facilitating this growth, providing the financial flexibility needed to capitalise on new opportunities.
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Conclusion: A Refreshing Partnership
The Stone Company's experience with Novuna Business Cash Flow has been nothing short of refreshing. The transition to NBCF marked a significant turning point in their business journey. The team at Novuna has consistently demonstrated a positive, open-minded, and solutions-focused approach. The strong relationships built with the NBCF team have not only restored the company's confidence in financial partnerships but have also laid a solid foundation for continued growth and success.
In summary, the decision to partner with Novuna Business Cash Flow has been instrumental in The Stone Company's ability to navigate financial challenges, expand its operations, and achieve new levels of success in the competitive work surface market.
