Posts Tagged: Invoice finance

SMEs Still Hampered by Overdue Payments

New figures released from MarketInvoice show that 62 per cent of small and medium sized enterprise (SME) invoices were paid late in 2017. This evidence comes despite Government measures introduced earlier this year to try to change the UK’s late payment culture.   The scheme announced in January, by the Department for Business, Energy & Industrial…

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More Companies Are Tuning in to Invoice Finance

  New research reveals that UK and Irish business are increasingly turning to invoice finance. Data compiled by the Asset Based Finance Association (ABFA), an industry trade body, shows that invoice finance has reached an all-time high of £22bn of finance advanced to businesses at the end of the fourth quarter of 2016. This is…

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Fintech Summit Aims to Boost Sector Investment

While the annual fintech conference in London gets underway this week a new report from law firm Simmons & Simmons reveals that three-quarters of international banks and asset managers are looking to boost their collaboration with fintech companies.   The report also reveals 31 per cent of those polled were seeking an acquisition within the…

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50,000 SMEs fold waiting for supplier payments

The UK’s poor supply chain practices put SMEs out of business says a new report from the FSB. The report, ‘Time to Act: The economic impact of poor payment practice, says British SMEs are owed a massive £67.4 billion in unpaid invoices and these late payment practices force an estimated 50,000 firms out of business each year.…

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Asset Based Lending Reaches Record High in UK

pound coins – Asset Based Lending Reaches Record High in UK

Figures released by the Asset Based Finance Association (ABFA) reveal that the amount of finance made available to UK businesses through asset based lending leapt to a record high of £4.3 billion in Q3, up 22% over the same period last year. Asset based lending allows businesses to borrow against assets – including property, intellectual…

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Late Payments Culture Posing Serious Threat to UK SMEs

PAID – Late Payments Culture Posing Serious Threat to UK SMEs

The UK’s late payments culture is posing a serious threat to the survival of small and medium-sized enterprises (SMEs). Over one third (34%) of SME owners have highlighted late paying clients as a major difficulty, according to research from Close Brothers Invoice Finance. Of these, 65% said that the main area of concern was with…

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UK Largest European User of Asset Based Finance

£20 notes – UK Largest European User of Asset Based Finance

New data from the Asset Based Finance Association (ABFA) reveals that the UK is the largest user of asset based finance of all European countries. The total value of UK businesses supported by asset based finance reached a record high of £355 billion in 2015, up 7.4% from £312 billion in 2014. The research also…

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Large Irish Businesses Increase Borrowing Through Invoice Finance

Spiralling stack of Euros – Large Irish Businesses Increase Borrowing Through Invoice Finance

Companies in Ireland registering turnovers between €10 million and €25 million have increased their borrowing through invoice finance by 21% in Q2 2016. This is according to new research from the Asset Based Finance Association (ABFA), the body that represents in UK and Ireland invoice finance industry. The figures reveal that large Irish companies received…

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Debt Financing Vs. Equity Financing – The Pros and The Cons

one way/another way sign post – Debt Financing Vs. Equity Financing – The Pros and The Cons

Let’s begin by stating a simple truth – businesses need finance to grow. In an ideal world, this finance would be taken from the business’s very own booming profits, and growth would be self-perpetuated forever more. Unfortunately, however, this is the real world that we find ourselves in, and the real business world at that,…

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