2010

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    Why Do 56% of SMEs Prefer An Independent Invoice Finance Company?

    In our survey 56% of SMEs questionned said that they would prefer to use an independent invoice finance company rather than one owned by a bank. 41% of those respondents said the reason for their choice was due to a desire for "personal service"....

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    73% Of SMEs That Prefer A Bank Do So Because Its A Well Known Name

    In our survey of 100 SMEs only 33% said they would prefer to use a bank owned invoice finance company. Of that 33% - 73% of them, nearly three quarters, said that the reason for their preference was that the "bank was a well known name"....

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    56% of SMEs Prefer An Independent Invoice Finance Company

    We asked 100 SMEs whether they would prefer a bank owned invoice finance company or an independent invoice finance company.The results were as follows:I will be looking at the reasons why over the next few days....

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    82% Of Suitable Invoice Finance Prospects Not Contacted By Invoice Finance Companies

    We selected a sample of target invoice finance prospects and asked them which invoice finance (factoring & invoice discounting) companies had contacted them over the last year in order to promote their invoice finance services.82% of businesses said they hadn't been contacted by any invoice finance companies! It is further evidence that there is a need for more promotional activity within the...

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    Average Business Loan Represents Just 4.7% Of Sales Ledger

    In our SME survey we asked SME businesses if they had business loans and if so what percentage it represented of their outstanding sales ledger. Of the 7% that had a business loan, the average value represented only 4.7% of their outstanding sales ledger.This figure is much lower than that for invoice finance, which can be an alternative to getting a business loan. Recent figures from the ABFA...

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    No Minimum Base Rate For Invoice Finance & 28 Days Notice Of Termination

    Please see the news article below for details of a recent offer available exclusively from one of it's invoice finance providers. The offer gives our clients no minimum base rate or LIBOR rate and short notice of termination periods with the chance to terminate with just 28 days notice of termination during the first 6 months of using the facility....

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    HMRC Time To Pay Arrangements Value Halves & Refusals Double

    Research results published by Business Money suggest that the value of HMRC Time To Pay arrangements for outstanding tax payment has halved in value over the last year whilst the number of refusals to join the scheme has doubled.If you have been refused a Time To Pay arrangement the funding to pay your outstanding tax can often be raised through invoice finance, factoring or invoice discounting....

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    7% Of SME Businesses Have Business Loans

    In our recent survey we asked a group of 100 SME businesses if they had a business loan. 7% said that they did so 93% don't have a business loan. An interesting contrast to the 88% that said they had an overdraft. This places overdraft as a more widely used form of finance than business loans.This is much higher than the percentage that use invoice finance, factoring and invoice discounting (less...

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    Comparing Overdraft Funding Levels to Invoice Finance, Invoice Discounting & Factoring

    For some time we have been seeking figures that will demonstrate statistically the increased levels of funding that invoice finance, factoring and invoice discounting release over and above that which is available through traditional bank overdraft lending facilities.We conducted some research amongst SME (Small and Medium Sized Businesses) and we asked them firstly if they had an overdraft and...

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    How To Get Out Of A Factoring Arrangement

    In many of the cases that we deal with factoring is seen by our client as an excellent solution for their business, the provision of cash flow through early payments against outstanding invoices and the included credit control debt collection support that is part of the factoring arrangement can be huge benefits.However, in some cases we deal with clients that are using factoring but want to know...

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    Ultimate Finance Acquire Ashley Commercial Finance

    Numerous reports today that Ultimate Finance have completed their acquisition of Ashley Commercial Finance apparently for 4.75m initially with a further payment of £2.7m if certain financial targets are met.Both are invoice finance companies but Ashely Commercial Finance target smaller businesses.Reports are that the two brands will continue to co-exist so it will be interesting to see how this...

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    Banks Not Increasing Overdrafts - Lending Survey Results

    We asked 100 SMEs if their overdraft had increased, decreased or stayed the same over the course of the last year.Not a single respondent reported an increase in their overdraft over the last year, more evidence that the banks are not increasing overdraft lending to SMEs....

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    Interest Free Funds To The End Of The Year

    News just in from one of our funding partners - they have put aside a significant amount of funds in order to provide clients with interest free funding until the end of the year....

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    Article Published The 8 Most Well Known Invoice Finance Companies

    Commercial Finance Today have just published my recent article: The 8 Most Well Known Invoice Finance Companies....

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    100% of Businesses Surveyed Can't Name the Invoice Finance Industry Body

    As part of our latest SME survey we asked 100 SME businesses if they could name the industry body for invoice finance.Not a single respondent was able to give the name!The ABFA (Asset Based Finance Association) is the main industry body for invoice finance and these latest results highlight that the profile of the ABFA is very low, reflecting the generally low awareness of invoice finance amongst...

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    Risk of UK Double Dip Recession Increases

    I have been reading a variety of things on the web regarding the apparently rising possiblity of a double dip recession in the UK economy.House prices have fallen again for the third month running, the HMRC appear to be taking an tougher stance regarding VAT time-to-pay agreements (according to an email update recently received) and there is also talk of investors seeking defensive investments in...

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    Invoice Finance Product Launched For Very Small Businesses

    There seems to be mounting interest in smaller businesses at last amongst the invoice financiers. Over the last couple of years there has been little on offer to small businesses but suddenly there are a number of products coming onto the market specifically for them.One such product has just been launched by a major bank that is one of our funding partners. The invoice finance product is...

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    Invoice Finance for Start-Up Businesses

    One of our funding partners has a specialist invoice finance product for start-up businesses. The product has been tailored specifically to match the needs of a new start-up company and provides the following additional benefits in addition to the invoice finance itself for a fixed monthly administration fee:...

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    100% of Clients Surveyed Would Recommend Us

    In a survey that was conducted amongst our clients 100% of those asked said that they would recommend our search service for invoice finance, factoring and invoice discounting quotations.I was just reading a piece of research on behalf of the ABFA in conjunction with YouGov that found that 82% of existing users of factoring and invoice discounting would recommend it to other businesses as a form...

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    How To Overcome Invoice Finance Funding Restrictions

    We have been dealing with a prospect who has invoice finance from a provider that has imposed some heavy funding restrictions.The existing invoice finance company were only funding at a low percentage but they had also set their client a completely unrealistic target for debtor days with a reduction of 1% in their funding percentage for every day by which they exceeded the target! This had caused...

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    Supply Chain Finance & Reverse Factoring Article

    I have just written a new article for the main site "Supply Chain Finance & Reverse Factoring" that explains how it works, the benefits to suppliers and buyers and the types of businesses that might be eligible.Supply Chain Finance or Reverse Factoring are very attractive, cost effective concepts for businesses that are involved in the supply chains to huge businesses e.g. retailers, supermarkets...

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    Factoring Finance Launched for IT Industry (Information Technology)

    One of our funding partners has launched an innovative specialist factoring finance facility for IT (Information Technology) related businesses.This gives businesses in the IT sector access to funding that might not have been otherwise available. Funding can be provided against staged invoices, servicing, maintenance contracts, software development & integration and complex contractual IT...

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    Linkedin UK Invoice Finance Research Group Link

    This link should take you to the page where you can join the UK Invoice Finance Research Group on Linkedin: http://www.linkedin.com/groups?mostPopular=&gid=3323843You will need to join Linkedin to join the group but all our research results are being published to that group....

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    The Funding Alternative If Refused An Overdraft

    We are talking to a business that has been turned down and refused an overdraft by one of the high street banks as the business does not have any assets the bank will consider as security for an overdraft.This is a typical example of a small business that is not yet asset rich but still needs working capital to bridge the gap between the time that they invoice and the time that they get...

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    Finance Cost Is The Biggest Issue That Is Being Addressed By Some Invoice Finance Companies

    The research that we have published in the past demonstrated that 41% of SMEs thought that cost was the biggest reason for businesses not taking up invoice finance. Our research has also revealed that 100% of SMEs think that the availability of business finance has reduced over the last year and 86% also believe that the cost has increased over the same period.This may be true generally but there...

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    Absolute Invoice Finance Rebranded As Aldermore Invoice Finance

    Notification has just been received that Absolute Invoice Finance (formerly known as Cattles Invoice Finance) have rebranded once again as Aldermore Invoice Finance, a division of Aldermore Bank PLC, who acquired the business last year....

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    Research Results Posted to Linkedin UK Invoice Finance Research Group

    The UK Invoice Finance Research group on Linkedin now has 46 members and I have already posted up some of the research that we have conducted into the UK market. More research results will follow together with new studies that we are undertaking at present.Please visit www.linkedin.com sign up to Linkedin and then join the UK Invoice Finance Research group which is open to anyone with an interest...

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    UK Invoice Finance Research Group Launched On Linkedin

    Last night I created a group on Linkedin called "UK Invoice Finance Research" group which already has 22 new members! The purpose of the group is to share research findings relevant to invoice discounting in order to aid the expansion of the market.Initially I will update it with some of the findings that I have posted to this blog but we are constantly conducting new research so that will also...

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    VAT Arrears Repayment Pressure Rises Amongst Prospects

    We have noticed a number of new prospects recently mentioning pressure from the HMRC for the repayment of outstanding VAT arrears as the reason for seeking factoring or invoice discounting. In addition, half of those that mentioned VAT arrears also said that they had received a letter from HMRC advising them of their intention to visit and verify their VAT returns....

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    How Big Could The Invoice Finance Market Become?

    I have just written a piece for the Commercial Finance Today publication titled: "The Prize - The Potential Size of the UK Invoice Finance Market" that attempts to size the potential target market for invoice finance in the UK if some of the issues I set out in my last article were to be addressed.My article should be in this months edition of Commercial Finance Today from Commercial Finance...

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    Factoring Service Charges From Just £2,000 Per Annum

    We are always on the lookout for the best factoring deals for our clients. The "best deal" doesn't always mean the cheapest rates but in some cases that is the primary criteria by which a prospective client wants to compare factoring companies and offers.We have just established a relationship with a new factoring partner that is able to offer a small business a factoring facility with a...

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    Asset Based Lending Industry Loses Another 347 Clients In Q1 2010

    Statistics from the ABFA (Asset Based Finance Association) for the first quarter of 2010 show that their members recorded an overall net decrease in client numbers of 347 during the quarter.These figures include members clients using the following products: domestic factoring, domestic invoice discounting, export and mixed export & domestic, import factoring, stock finance and ABL (asset based...

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    Example of How Not Understanding Invoice Finance Can Cost Money

    Much of the research that I have published recently has suggested that there is a general lack of understanding amongst businesses about invoice finance products. We have just seen the perfect example of a prospective customer not understanding how invoice finance products work which has been costing them money.Our Invoice Finance brokerage has been in contact with a prospective customer that was...

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    The Secret To Selling More Invoice Finance

    My article "The Secret To Selling More Invoice Finance" has just been published on the Commercial Finance Today website.The article sets out a summary of the feedback we have captured from numerous clients that we have spoken to over recent years. In the article I outline the key changes that would be required to rapidly increase the number of factoring and invoice discounting clients....

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    Newsletter Published

    The July 2010 newsletter has now been published.This issue includes articles about:...

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    Cash Crunch - Only 7% Of SME Businesses Face A Lack Of Credit

    Contrary to popular opinion, our recent research survey found that only 7% of SME businesses questioned stated that a "lack of credit" was the biggest issue facing their business over the next year i.e. an inability to get credit from suppliers and/or financiers.71% were concerned with cash or cash flow related issues and 22% were concerned about the lack of sales, but lack of credit was far less...

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    Lack Of Sales Is A Big Issue For SME Businesses

    The joint second biggest issue facing SME businesses over the course of the next year was the "lack of sales".This is interesting as with only 22% of respondents stating "lack of sales" as their biggest issue it ranks some way behind the 71% of respondents that stated a cash or cash flow related issue as being their biggest forthcoming issue.Whilst finding sales is obviously an issue, financing...

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    Cash Flow Is The Second Biggest Issue Facing SME Businesses

    In my previous post I mentioned that 49% of SMEs said that the biggest issue facing their business over the course of the next year was having insufficient cash.A further 22% of respondents, the joint second largest category, said that "cash flow" was the biggest issue facing their business over the next year.This means that when combined, 71% of SME businesses see the biggest issue for their...

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    49% Of SME Businesses Expect To Have Insufficient Cash

    In our recent research survey, 49% of the SME businesses that were interviewed said that they expected the biggest challenge facing them this year to be having insufficient cash.This should present a huge opportunity for the invoice finance industry - the need for cash is apparently the biggest issue facing small and medium sized businesses which confirms there is a need for the products that...

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    The Biggest Challenge Facing Businesses This Year

    We recently conducted a poll of 100 SME businesses and one of the questions we asked them was to name the biggest challenge that is facing their business over the course of the next year.The research results were interesting and were published over the next few days on this blog.-----------------------------------------------------These are links to the posts relating to the results of that...

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    Business Development Manager Training Gap In Invoice Finance

    Building on the recent theme of why the factoring industry isn't selling more invoice finance to new clients, I recently had an interesting discussion with a recruitment consultant that specialises in the commercial finance industry and has numerous vacant roles on his books for BDMs (Business Development Managers) the term used for sales people within the factoring industry.The recruitment...

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    How Poor Credit Control Can Lose You Customers

    I have just seen first hand the perfect example of how poorly organised credit control can lose you a customer.We bought some goods from a small local company at the end of last year. The product was excellent and until this morning I have taken every opportunity since to sing their praises and recommend them to other people.Almost 5 months ago now they phoned to say that we hadn't paid their...

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    The Secret To Selling More Invoice Finance Facilities

    I am sure that is a question that many invoice finance companies would like answered!Well, I have had a bash at putting together another article for the next issue of Commercial Finance Today called "The Secret To Selling More Invoice Finance" which attempts to answer that question by setting out what prospective invoice finance customers seem to say they want from invoice finance. I will post a...

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    Updating the List of Factoring Companies in the UK

    I was just in the process of updating the list of factoring companies in the UK on the site and was struck by the number of acquisitions that have taken place over the last few years and the number of new entrants to the market.You can see our List of UK Factoring Companies on the main site....

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    List Of The Best Known Factoring Companies

    As part of our recent research into the factoring market, we asked 100 SME businesses to name the first invoice finance company that they could name. From their responses we compiled the following list of the best known factoring companies:...

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    Getting Innovation, Design & New Inventions to Market

    I have just had a fascinating meeting with someone who has come up with a brilliant, innovative new invention. Like so many inventions it was born of personal necessity but as with so many "inventors" he is stuck at the design stage, faced with either having to trust a business to develop his idea for him or trying to negotiate the complexity, and expense, of patent law himself.There are so many...

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    Symbiotic Versus Parasitic Business Models

    Dictionary.com defines "symbiotic" as "any interdependent or mutually beneficial relationship between two persons, groups, etc."It defines "parasitic" as the behaviour of a parasite, which it goes on to define as: "a person who receives support, advantage, or the like, from another or others without giving any useful or proper return, as one who lives on the hospitality of others."These are...

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    Factoring Options For Small Businesses At Last

    It has been several years since there have been many factoring facilities available to the smallest businesses, for example turning over less than £100,000 per annum, after several factors pulled out of the sector. Many factors have said that they will still support small businesses but they impose such high minimum fees that it prohibits them in practice.The market seems to be changing at last....

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    0% Over Base Rate Funding Gets Most Interest

    When we send out the monthly factoring newsletter we track the number of people that click through on each article. Last month's email newsletter ran 3 different articles and it was the article about funding at 0% over base rate that got the most interest and hence click throughs from interested customers - not unsurprising that people are interested in a cheap deal!...

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    Aston Rothbury & Davenhams

    There has been comment in various media over the last few days regarding a couple of factoring companies namely Aston Rothbury and Davenhams.Firstly it has been reported that Aston Rothbury have entered administration and now there are also reports that Davenham's have ceased to write new business and started to collect in their outstanding loan book.Both these companies previously occupied...

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    Factoring Newsletter - 0% Over Base Funding Offer

    We have just sent out our latest invoice finance newsletter which includes details of a funding offer at 0% over base rate, trade finance for small transactions and figures that support the fact that businesses using invoice finance tend to outperform non users in terms of business growth....

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    Article Published In Commercial Finance Today By Commercial Finance People

    My thanks to Prue Heron at Commercial Finance People for her kind invitation to publish my article "Why Don't More Businesses Use Invoice Finance" in their monthly enewsletter - Commercial Finance Today.Commercial Finance Today is compiled by Commercial Finance People, a long established recruitment consultancy specialising in the Invoice Finance/ABL, Banking, Leasing/Asset Finance and...

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    Is Only One Factoring Company Marketing & Advertising?

    Yesterday I posted that 80% of SMEs in our recent invoice finance survey said that they had not seen any advertising whatsoever for invoice finance. This lead us to question the remaining 20% about what they had seen.In all cases, the only advertising they said they had seen was an information pack that was sent to them by one of the invoice finance arms of a single major high street clearing...

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    80% Of Businesses Have Not Seen Invoice Finance Advertising

    As part of our continued investigation into the low numbers of businesses using invoice finance we asked a sample of 100 SMEs (Small and Medium Sized Businesses) if they had seen any advertising for invoice finance over the course of the last year.A staggering 80% of businesses had seen absolutely no invoice finance advertising whatsoever!...

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    42% Of SMEs Can't Name Any Invoice Finance Companies

    As part of our recent invoice finance related survey we asked 100 SME businesses to tell us the first invoice finance companies that came into their mind.Our expectations were that their answers would reflect the handful of proactive invoice finance companies that are making a good job of promoting themselves. However, some aspects of the resulting answers were quite shocking - in particular the...

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    June 2010 Budget Implications

    Following the chancellor's June 2010 Budget announcement yesterday, attention now turns to the implications on the UK economy.Some of the key aspects, that will impact the economy, from the June 2010 budget, were the rise in VAT from January 2011 from 17.5% to 20% and the cut in government departmental budgets by 25%. Whilst these measures are undoubtedly necessary to reduce the UK's huge budget...

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    SMEs Dramatically Over Estimate The Number Of Invoice Finance Users

    Our research amongst SMEs also revealed that 49% of those SME businesses we questioned dramatically over estimated the proportion of UK businesses that use invoice finance, when the actual number is very low, in part due to poor promotion of these cash flow products by the industry.In fact the number of UK businesses using invoice finance is less than 1% of the total number and we have some more...

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    SMEs Unanimously Think Invoice Finance Improves Customer's Cash Flow

    Our invoice finance research results are now available and I will post them to the blog over the next few days.This time the researchers spoke to 100 SMEs (Small and Medium Sized Enterprises) and asked them a variety of questions around their views, attitudes, perceptions and expectations regarding invoice finance. This has yielded some fascinating results.One question we asked was "If a customer...

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    Factoring Research Results Available Tomorrow

    The next set of factoring and invoice discounting related research is going to be available tomorrow so I will start posting some more results.This time the research questions were focused around attitudes and expectations regarding factoring, invoice discounting and invoice finance....

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    Football World Cup Surprise Result

    With the football World Cup in full swing we were expecting our flow of factoring and invoice discounting enquiries to dry up, as people took time off to watch the world cup on TV! Surprisingly, the converse has been true - in the last few days we have seen a surge in the number of new invoice finance enquiries which has been an unexpected surprise result!Let's hope that England win - that would...

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    Asset Based Finance Association (ABFA) Q1 2010 Figures Published

    The latest set of invoice finance industry statistics from the Asset Based Finance Association (ABFA) for Q1 2010 have been published on their website.They show growth of 8% in client's sales volumes in the year to date against the previous year but they also show a decrease of just over 7% in the number of actual clients using invoice finance (now 41,275) as the number of clients lost has...

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    Newsletter - 3K Saving, Construction Finance & Selective Invoice Discounting

    The latest invoice finance newsletter is now available.It includes details of the 3K factoring facility that we have been promoting, finance for businesses within the construction sector and selective invoice discounting without any minimum charges....

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    Factoring or Invoice Discounting Funding At 0% Over Base Rate

    We have just been given first notification of a funding offer from one of our partners. They are offering new customers funding at 0% over base rate for the first 3 months of their factoring or invoice discounting facility.The offer is available for funding lines of up to £1,000,000 so a business using the full £1,000,000 that was currently paying, for example, 3% over base would save £7,500...

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    ABFA (Asset Based Financing Association) Annual Dinner Tonight

    Tonight it's the annual dinner organised by the ABFA (Asset Based Financing Association), the key industry organisation for factoring and invoice discounting companies. So I will see anyone that is going there!...

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    Trade Finance For Small Transactions

    I spent my initial working years in trade finance dealing with large volume imports of just about any product you can imagine from outside the UK. The trade finance company provided the funding to the importer via services such as setting up letters of credit for payment of their overseas suppliers which could be based all over the world including europe, africa, north america, south america,...

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    Tough Measures Ahead To Balance The UKs Budget

    Now the the UK has the stability of a Conservative Liberal Democrat coalition government in place the role of the new government has turned to taking action to sort out the disasterous state of the UK's finances. This will undoubtedly mean tough measures to balance the public finance. There has already been talk of a hike in VAT from 17.5% up to 20%. This will boost revenue to the exchequer but...

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    May 2010 Invoice Finance Newsletter Brief Written

    The brief for our May 2010 invoice finance newsletter has been written. This months newsletter includes a case study of a quotation for £3K per annum factoring, an article about construction finance and details of selective invoice discounting for small businesses....

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    Invoice Discounting Masquerading As Factoring

    Recently, we have spoken to several businesses who have had lukewarm opinions of factoring generally due to the existing service that they are using failing to assist them in collecting their outstanding sales invoices - credit control. What appears to be happening is that some invoice finance companies are offering an invoice discounting facility under the banner of a factoring offering.In order...

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    3K Factoring Case Study Published

    We have just published a case study showing how we found a quotation for a client for a factoring facility at a £3,000 per annum service charge during April 2010 that will deliver them a substantial factoring cost saving....

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    More Uncertainty For UK Businesses Due to Hung Parliament & Greek Economic Issues

    The uncertainty for UK businesses has multiplied yet again with the news of a hung parliament in the 2010 UK general election. With no one party being able to command a majority in the house of commons the prospects seem remote that there will be a stable alliance formed although its obviously too early to tell for sure - the likelyhood is that the UK will face another general election in the...

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    Construction Factoring Finance

    Construction Factoring Finance can enable businesses in the construction sector to raise up to 70% funding against their outstanding sales invoices, with the balance paid (less charges) when the customer pays.Businesses with a CIS UTR number, those that make uncertified applications for payment and businesses that are involved with stage payments can all be eligible for funding using this unique...

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    A List Of My Articles Published By Ezine Articles

    Below is a link to a list of cash flow and invoice finance related articles that I have written and have been published by ezinearticles.com :They include the following articles:- Why Do So Few UK Businesses use Invoice Finance?- 7 Ways to Increase Business Cash Flow Over Holiday Periods- Benefits of Factoring Over an Overdraft- How to Get Factoring For Free- Avoiding the Pitfalls of Entering...

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    Selective Invoice Discounting - Select The Invoices You Want Cash Against

    Selective invoice discounting has been available in some industry sectors for a long time but one of our invoice finance partners has recently launched a selective invoice discounting service which is available to small businesses within a wide range of different industry sectors.Selective invoice discounting allows the business using the facility to pick and choose which invoices they want to...

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    Latest Invoice Factoring Newsletter Brief Written - Cheap Factoring, Selective Invoice Discounting & Export Factoring

    Our latest factoring newsletter brief is complete! The April issue of our factoring newsletter includes a number of product updates including: factoring for just £3,000 service charge per annum, selective invoice discounting and an export invoice discounting product that can support worldwide exporters on a global scale....

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    A Big Misconception About Some Business Finance Brokers

    In our recent survey of 100 SMEs we asked them what they thought was the biggest reason for not using a business finance broker.100% of respondents said due to "cost".The irony is that many finance brokerage services, such as ours, cost our clients nothing to use! We make no charges to our client and only receive a small commission from the finance provider if the deal is successful. In most...

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    The Unexpected Effects Of The Icelandic Volcanic Ash Clouds

    There has been much comment in the press about the coulds of Icelandic volcanic ash, currently above the UK, which have brought our aviation industry to a standstill. This will undoubtedly have a dramatic effect upon the airlines but they will not be the only businesses that are affected, there is a supply chain domino effect that will also come into play.It will not only be the airlines and...

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    Cheap Factoring for Small Businesses

    There has been much comment in the press about the coulds of Icelandic volcanic ash, currently above the UK, which have brought our aviation industry to a standstill. This will undoubtedly have a dramatic effect upon the airlines but they will not be the only businesses that are affected, there is a supply chain domino effect that will also come into play.It will not only be the airlines and...

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    Recourse Factoring For Less Than £3,000 Annual Service Charge

    Good news for small businesses, there are still recourse factoring deals on the market, offered by our partners, with minimum annual service charges of £3,000 or less. This includes a release of cash from outstanding invoices and a comprehensive collections (credit control) service. If you want to reduce your recourse factoring service charge this might help....

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    How Many Factoring Price Quotes Do You Need?

    Prospective clients are often unsure about how many factoring price quotes they should get before they have enought to make a decision. I have put together an article that takes a logical approach to how many quotations you should seek in order to make an informed choice and decision....

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    Factoring Newsletter Brief Completed!

    I have just finished writing the brief for the latest factoring newsletter.This issue will include details of the factoring quote where we were able to offer the prospect a cost saving of 50% of the total cost, information about avoiding minimum discount charge base rates and some more findings from our invoice finance research.The factoring newsletter is free and you can subscribe using the link...

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    ABFA Launch Invoice Finance Presentation

    The ABFA (Asset Based Finance Association), the industry body for invoice finance companies has just launched a presentation format explanation of invoice finance, factoring and invoice discounting.The presentation addresses how different invoice finance products work, the amount of finance you could raise that how the costs work.You can view the presentation at:...

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    More Details Of That 50% Invoice Finance Cost Saving

    Yesterday I mentioned that we had managed to find one prospect an invoice finance deal that would save them 50% of their current costs, today I have more details of that cost saving case study.The prospect was a small wine supplier that had a recourse factoring deal from a bank owned factoring company.They were paying a combined service charge and discount charge of over £12,000 per annum in...

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    50% Cost Saving For Invoice Finance Client

    We have just completed a quotation search for invoice finance for one client and found them a 50% cost saving on their existing fees! Not bad for a free service!A regular issue that we are finding with prospective clients at the moment is that they are paying discount charge over a minimum bank base rate rather than at actual base rate. Whilst base rate is currently only 0.5% some prospects are...

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    An Insider's Guide to Invoice Finance, Factoring & Invoice Discounting

    I am currently writing a free ebook called "An Insider's Guide to Invoice Finance, Factoring & Invoice Discounting" to be published soon.It will contain full explanations of all the different invoice financing products and tips and advice about avoiding the pitfalls and common issues that arise when using invoice finance.I am also including detailed information about how different factors work,...

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    21% of Businesses Refused Bank Credit Not Told Why

    Just read in Business Money that Graydons UK have conducted some research and found that 21% of businesses that are refused credit by a bank are not told why by the bank! Staggering!...

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    What Is It With Medication Spammers!

    Yet another stream of posts deleted about prescription medications from the usual spammers! There is no way I am going to allow your comments to publish so why not save yourselves some time :o)...

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    Cost of Business Finance Rises

    86% of SMEs (Small and Medium Sized Businesses) that we spoke to said that they thought that the cost of business finance had increased over the last year.The remaining 14% thought that costs had stayed the same - interestingly noone thought that the cost of business finance had decreased.Despite this our free search service for invoice finance quotations has continued to be able to cut the cost...

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    February 2010 Invoice Finance Newsletter Published

    Our February 2010 free invoice finance newsletter is now available.It details some of the results from our recent survey of SMEs about their views on the outlook for the UK economy and their attitudes towards invoice finance. It also contains reference to one of the Dragons from Dragon's Den using receivables financing to support the acquisition of a buisness....

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    February Invoice Finance Newsletter Published

    Our latest invoice finance newsletter for February 2010 has now been published.It contains some of the results of our recent survey of UK SMEs that shows businesses are optimistic about the future and it has information about a receivables financing deal put in place to support a business being purchased by one of the Dragons from the TV show Dragon's Den....

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    The Reasons Why So Few UK Businesses Use Invoice Finance

    I have just published an article on our site that explains the results of our research into the reasons why so few UK businesses use invoice finance.It explains that there are 4 main reasons, cost, not being aware of the products, prefering overdraft and loans and a fear that using invoice finance will somehow affect their reputation.My article takes each one of those concerns in turn and...

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    Reasons Not To Use Invoice Finance

    I am currently putting together an article that analyses the feedback given to us by SMEs about why they think so few businesses use invoice finance in the UK.The article and my analysis of the reasons not to use invoice finance will be published shortly....

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    Underselling Invoice Discounting Benefits

    I have just had a meeting with an invoice discounting company who wanted to give us a demonstration of how their product and supporting system works. Fantastic system, plenty of benefits for the client such as minimal administrative workload, no month-end reconciliation, no retentions for recourse being held until the end of the month, but the discounter just isn't promoting the benefits in a...

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    Invoice Finance - A Well Kept Secret

    In our survey, we asked the SMEs that we interviewed why they thought that so few UK businesses used invoice finance. The Asset Based Finance Association?s figure for the total number of businesses currently using factoring and invoice discounting, via their membership (*see below for a list of contributors to these ABFA figures), in the UK as at September 2009, was just 42,983.31% of respondents...

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    Has Factoring Been Mis-sold?

    It is curious how many businesses we speak to are focused on going down the invoice discounting route (no credit control service) rather than using factoring (which includes a credit control service) as they don't believe that outsourcing their credit control function can be translated into a financial benefit. In many cases these businesses have already used a factoring service from certain...

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    Are UK Businesses Being Over Optimistic?

    Are UK businesses being over optimistic about the UK economy?We recently published results of our market research survey of 100 SMEs that 73% of SMEs thought that the UK economy would improve over the course of 2010. 17% thought it would stay the same and only 10% thought it would decline.The results are certainly in keeping with the prevailing opinions on various newsites and blogs around the...

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    Average SME Spends 80 Hours Chasing Invoices Each Month

    We asked 100 SMEs how much time they spent on credit control each month (assuming 7 working hours each day and 22 working days in the average month) and on average they said that they spent 80 hours each month chasing debtors for unpaid invoices.That's equivalent to almost 11.5 working days each month and equates to 52% of one employees time.I just looked up the average salary of a credit control...

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    Cost of Business Finance Increases?

    More from our recent market survey of 100 SME's regarding Business Climate in the UK and Invoice Finance. We asked them if they thought that the cost of business finance generally has changed over the last year.86% of SMEs thought that business finance was more expensive and 14% thought it had stayed the same. Not one out of 100 businesses thought it had decreased!Fortunately some of our clients...

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    Newsletter Format Updated

    The brief is written for this months newsletter but we have made a few changes.We felt the format was a little too sales focused so we have changed the format to bring readers more information, tips and advice about cash flow issues....

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    Availability of Finance Decreases

    In our recent market survey of 100 SME's we asked them how they thought the availability of finance had changed over the last year.100% of respondents thought that the availability of finance has decreased.It is striking that all 100 respondents shared the same view.Despite this, there are finance companies out there that are hungry for business. We were speaking to one company just last week...

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    More Market Research Results

    In our market survey of 100 SME's we asked them how the time taken by customers to pay sales invoices had changed over the last year.66% of respondents thought the time taken to get sales invoices paid had increased.Of these respondents only 1 had ever used an invoice finance facility. Factoring companies can often achieve a much improved debt turn for their clients i.e. chasing in payments...

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Examples of just a few of our finance partners:

ashley
lloyds bank
hitachi
ifg
hh cashflow
skipton