Comment on Q2 2012 ABFA statistics
13/09/2012 / Comments 0
Evette Orams, Managing Director of Hilton-Baird Financial Solutions, comments on the latest quarterly statistics from the Asset Based Finance Association (ABFA):
- Total advances increase by 2% to £16 billion in Q2 2012
- Client numbers increase by 4% to 42,861
“We are pleased to see that the asset based finance industry continues to provide crucial support to UK businesses. The 2% year-on-year increase in total advances to clients, as reported in the ABFA’s latest statistics, demonstrates that more businesses are benefiting from this tailored and expert cash flow solution. With client numbers also increasing by 4% to almost 43,000, this is reassuring given that access to traditional bank finance still remains restricted.
“The figures also reveal an impressive 23% annual increase in advances to businesses with a turnover of less than £500,000. This highlights the sector’s ongoing support to the UK’s SMEs despite the challenging economic climate. Access to the right funding is crucial if businesses are to realise their growth potential, with the asset based finance industry a key funding route which can meet the cash flow requirements for businesses of all sizes.
“It is equally important to note that the total £16 billion advanced to clients only covers funding from the ABFA’s members and does not capture the funding made available by reputable non-ABFA members. This would add to the volumes of UK businesses large and small who are recognising the benefits of releasing the cash tied up in their company’s assets.”
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 at the Business Moneyfacts Awards and UK Asset Based Finance Broker of the Year 2012 at the ACQ Global Awards, 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.