Comment on Q1 2012 ABFA statistics
19/06/2012 / Comments 0
Comment by Evette Orams, Managing Director of Hilton-Baird Financial Solutions, on the latest Asset Based Finance Association (ABFA) statistics:
“Given the current economic climate where the UK’s small businesses are still struggling to find funding, it is refreshing to see that invoice finance is filling the funding gap. The latest quarterly figures from the Asset Based Finance Association make for encouraging reading, revealing a 6% increase in turnover for companies using invoice finance in Q1.
“This growth is in spite of the ongoing challenges businesses are facing economically, along with the continued restrictions with regards to accessing traditional bank finance. These figures are especially pleasing when you compare the picture to Q1 2011, with total client sales now at £59.2bn, up from £55.6bn.
“The increase in funding by the ABFA’s members to businesses has risen by 4% over the same period to £15.4bn, meaning that the availability of funding to the UK’s power houses, SMEs, has increased. This is further conveyed as the total number of clients using invoice finance has noticeably increased, with a net total of 493 new clients coming on board, pushing the total client number up to 41,989. This shows that the invoice finance message is finally getting through.
“All this indicates that UK businesses have the financial fire power available to succeed in 2012, which is good news for the economy and we hope to see an increasing number seizing the opportunity in order to achieve growth.”
Note to editors:
Evette Orams is Managing Director of Hilton-Baird Financial Solutions, which is part of the Hilton-Baird Group of companies. As an independent introducing agent, Hilton-Baird’s aim is to clearly identify their clients’ business requirements and match them up with relevant providers. The Group prides itself on maintaining excellent relationships with a broad spectrum of lenders and constantly delivering positive and innovative financial solutions.
Hilton-Baird Financial Solutions was voted Asset Based Finance Broker of the Year 2009 & 2010, demonstrating its reputation and the trust its clients place in its service.
The business’ affiliations to the leading financial industrial bodies, the Asset Based Finance Association (ABFA), the Finance and Leasing Association (FLA) and the National Association of Commercial Finance Brokers (NACFB), ensures it maintains the highest level of standards for its clients.
Hilton-Baird Financial Solutions helps businesses of all sizes to fulfil their potential by introducing the most suitable cash flow solutions. Read recent success stories here.
To find out how Hilton-Baird can assist, contact Evette on: 07894 513555.