Covid-19 Business Support
PLEASE NOTE THAT THE CBILS & BBLS is now closed to new applications
In the next 48 hours we will learn the outcome of the US elections with the race still deemed too close to call in the media. With the candidates running neck-and-neck in the polls, it is likely that everything will come down to the swing states with the result in Ohio likely to be the key in deciding the outcome of the entire election.
In Ohio the incumbent president has the edge in my opinion. Boosted by a total of 131 field officers who have been working the phone lines for the past month compares favourably in terms of man hours to the 40 mustered by Mitt Romney’s campaign.
Personally, I liken the UK Economy to that of the England Football Team. It's not the worst by any means and, occasionally, we can, like today, pull off a shock result. Deep down however, we all know that the fundamentals are not right and, when it comes to the big games, we will be found wanting.
The spine of our team for a generation has been our financial services sector that is today a shadow of its former self with the regulators still legislating on how best to close the barn door when the proverbial horse has long since bolted.
Today's figures are very disappointing and will further erode the one single thing that is fundamental in our journey back into positive territory and that is consumer confidence.
The falls in isolation are not material, however the sound bytes and media spin will make a double dip recession a self-fulfilling prophecy without government intervention.
New figures released from the Asset Based Finance Association show that firms which use invoice finance solutions (such as invoice factoring or invoice discounting) are enjoying continued strong growth in their sales, up 13% to year end 2011.
Total client turnover in 2011 for companies using invoice finance has reached £238bn with total sales from this quarter alone now standing at £62bn. This continues the year long trend of firms which use invoice finance seeing an expanding sales base and trading successfully.