8 ways to finance business growth
In the past many businesses turned to bank loans for a cash flow boost. But, with so many funding products to choose from, it isn’t always the first – or most suitable – option for growing businesses today.
One example is how the asset finance market has reported two years of consecutive monthly growth, as more and more businesses realise the benefits of utilising specialist forms of business funding when going for growth.
According to the figures from the Finance & Leasing Association (FLA), asset finance new business (primarily leasing and hire purchase) grew by 3% in September 2015 compared to September 2014 – marking the twenty-fourth consecutive month of growth for the industry.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: “The growth in the asset finance market over the last two years has helped more businesses fund investment in essential equipment that they need to expand.”
And the infographic below shows that there are so many more ways businesses can fund their expansion: