• Why 56% Of SMEs Prefer An Independent Invoice Finance Company

    When we spoke to a sample of SMEs we were told that 56% of them would prefer to use an independent invoice finance company rather than a bank owned company for their factoring or invoice discounting facilities. These are the reasons they gave for that choice:

    • 41% Personal service

    • 13% Wouldn't trust banks after what's happenened in last few years

    • 9% Customer focused

    • 9% Flexibility

    • 9% Reliable

    • 7% Not having "all eggs in one basket"

    • 5% No foreign call centres

    • 5% Not being just a number

    • 2% Less risk

    Clearly, there are a number of actions that banked owned factoring companies could take, to address some of these points, in order to increase their appeal to SMEs.

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