February 2010

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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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    Business Climate & Invoice Finance Market Survey Results

    The first question we asked 100 SME's was "How do you expect the economic conditions in the UK to change over the course of 2010?".73% of respondents expected economic conditions in the UK to improve over the course of 2010....

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    Business Climate & Invoice Finance Market Survey Completed

    Our recent piece of research the Business Climate & Invoice Finance Market Survey has now been completed and the results are ready to be published from tomorrow onwards. The research involved a telephone interview with 100 diverse SME's (small and medium sized enterprises) - some of which used invoice finance and some of which didn't. The questions that we asked related to the current Business...

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    If Receivables Financing is Good Enough for a Dragon from the Den . . .

    Just came across a link to an article in Trade Finance which mentioned that James Caan's private equity firm apparently used a receivables financing package as part of the funding to fund a recent acquisition. It's good news for our industry that James Caan, one of the dragons from Dragon's Den is prepared to use receivables finance - perhaps it will encourage others to take up these lesser known...

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    Business Climate & Invoice Finance Market Survey Nearly Finished

    Our Business Climate & Invoice Finance Market Survey is nearly finished. We should have it finished by the end of today and be in a position to start publishing the results of the research from next week....

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    Invoice Finance Predictions for 2010 Continued . . .

    Yesterday I posted my first 3 predictions for 2010. Below are 2 more predictions for the invoice finance market during 2010:...

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    Debt Factoring Predictions for 2010

    As we enter 2010 it seems a good time to think about what is likely to change in the debt factoring and invoice discounting markets during the course of the year.Recent reports suggest that there has been a very modest uplift in the economy - 0.1% growth - hardly impressive by any standards, but possibly an end to the recession. It remains to be seen how much growth will be achieved in the next...

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    Top 5 Factoring Companies

    I was reading in a factoring blog recently that someone had apparently posted the question "which are the top 5 factoring companies ?" and the blogger proceeded to state various web sites that would be able to give the prospect a list of the top 5 factoring companies.The issue is that you cannot say that any 5 particular factoring companies are "top" in every case. Which factoring companies are...

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    Why Are The Credit Control Benefits of Debtor Factoring Overlooked?

    I have been looking around the blogosphere and have been surprised at the number of times that industry commentators focus only on the finance related benefits of debtor factoring without considering and mentioning the benefit of having a credit control service included in the price.An integral part of debtor factoring is that the factoring company takes on the task of collecting the outstanding...

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Examples of just a few of our finance partners:

igf
marketinvoice
acg
funding invoice
bibby
lloyds bank