Bristol City Council agrees to early payment initiative with Oxygen Finance

Bristol businesses and suppliers could benefit from a new early payment initiative designed to help improve cash flow during the current challenging economic climate.

The Supplier Incentive Scheme will offer city businesses the opportunity to have their invoice payment time reduced as Bristol City Council tries to support suppliers by processing thousands of invoices more quickly than standard. There will be no cost for many smaller businesses, whereas larger businesses wishing to be paid earlier than standard will receive a discounted payment in return. Money saved by the council can then be reinvested back into frontline services.

Big Increase in Council Homeless Services Spend As Demand Reaches New Heights

A report recently published by the homelessness charity Crisis highlighted that 53% of Council and voluntary sector services have reported an increase in homelessness in their area since the beginning of the pandemic, with a further 73% stating that demand for their services had increased since the beginning of the first national lockdown. It was also reported that although local authorities have welcomed the injection of funding and temporary uplift in local housing allowance, many are concerned about the temporary nature of these changes and what the landscape will look like for homeless services in the long term.

Council spend on Addiction-Related Services falls as Alcohol Deaths Rise

A recent article by the BBC highlighted how deaths caused by alcohol “hit a new high during the first nine months of 2020” – a time during which local authority spend on addiction-related services reached a new recorded low.

Oxygen Finance helps councils respond to coronavirus and secure supply chains by accelerating cash to businesses

Across the UK local authorities are operating progressive payment practices to accelerate cash to the suppliers who need it most.

BIG NUMBERS are banded around, billions owed or tens of thousands of businesses being liquidated each year through payment issues, but please remember that behind each of those statistics are individuals, perhaps just 1 or 2 people but each has a family, a home and a livelihood. Losing your business can be devastating.

Oxygen Finance partners with Intrum

Award-winning early payment programme provider, Oxygen Finance is partnering with Intrum, Europe’s leading credit management services company to develop a modular payment and credit management solution for local government.