Business Finance Research Findings Findings To May 2016

These are some of the key headlines drawn from our business finance research programme, so far to date:

Invoice Finance

Key findings:

  • 98% of existing users would recommend invoice finance (May 2015).

  • 78% of users have not checked their price in the last year despite which 64% want a price reduction.

  • 96% of existing users think greater use of IF would improve UK late payment culture (October 2015).

  • 87% of existing users say invoice finance enabled their business growth.

  • Average client life is 5.28 years during which they use 2.14 different providers (mainly for a cheaper deal 42.4% - March 2014).

  • 45% more satisfied using independent providers than those owned by high street banks.

  • 88% had overdraft representing 2.6% of their debtor book (on average) against 42% ABFA funding levels at the time (2011).

  • 50% reported reductions or removal of their overdraft.

  • 7 times higher awareness of payday loans, and 6.4 times higher awareness of crowdfunding, than IF (January 2016).

  • 47% of users haven't seen any IF advertising - most have only seen email advertising (May 2015).

  • 63% want to fund all invoices, 37% want selective invoice finance (May 2013).

  • 61% want funding from 1 party, 39% prefer an Ebay style auction.

  • Cost is the biggest barrier to using IF (51%) low awareness is the second (21%) (February 2015).

New Startups

  • 31% couldn't raise all the finance they needed (2013).

  • 96% didn't consider IF as most handn't heard or it or didnt know it was an option.

Fast Growth Businesses

  • 0.85% of UK businesses use IF, 12% of fast growers (20%+ pa) and 52% of maximim growers (January 2014).

  • 59% couldn't raise all the finance that they needed (2013).

  • 68% of existing users would recommend IF to fast growing companies (October 2015).

Construction Finance

  • 75% raise applications for payment, 25% raise sales invoices (2013).

  • 85% of those raising applications would benefit from payment immediately.

  • 2% use construction finance - 42% of those that don't have never heard of it.

Sources: Are shown in the links above. If none is shown refer to the link above that point.

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metro bank sme finance
pulse cashflow finance
apollo business finance
ultimate finance group