This event is organised by The Open Credit Network
For small businesses, cash flow is king.
If a business can’t pay its suppliers, it can’t produce goods to sell and won’t be in business for very long.
Interest rates at banks are nearly always 10% or more - that’s if a small business can obtain a bank loan and personal guarantees are usually demanded.
Business owners sometimes resort to using personal credit cards, with rates of 15% or more.
Specialist loan companies, like Iwoca, quote 49% or more for a £10k loan.
Small businesses shouldn’t suffer because they can’t access credit.
And now, thanks to the Open Credit Network, they don’t have to.
The Open Credit Network is a new UK enterprise offering businesses access to interest-free loans via a mutual credit trading network. By offering their goods and services to the network, qualified businesses are provided with access to credit enabling them to buy the products and services they need even when they don’t have cash.
In Sardinia, Sardex have been running a simple mutual credit network since the financial crisis of 2008. Now with more than 4000 members, the Sardex network enabled transactions worth more than €40 million in 2017.
For those who run, or provide services to, small- and medium-sized enterprises and would like to add additional value to their business networks, this event will provide:
- an introduction to mutual credit
- an overview of The Open Credit Network
- a guide to optimising small businesses to increase turnover and profits
- a guide to signing up and using the network
- a guide to earning referral fees from signing up new businesses
Join us to learn about mutual credit and discover more about The Open Credit Network.
NB: this is a free event but as places are limited we ask for five (conventional) pounds as a deposit to encourage attendance. Attendees' deposits will be refunded on request - however, Eventbrite may deduct an admin fee.