Invoice Factoring

Are your suppliers about to throw your business on the bonfire?

With the year end fast approaching, so looms the spectra of having to file last year's accounts.

Many SMEs may not have considered potential problems if they are about to file a less than impressive set of figures, with many assuming everyone is in the same boat.

Cashflow Survival - What Every Director Should Know

At this current moment in time, the old adage “Sales is vanity, profit is sanity but cash is king” is probably more appropriate now than at any other time. Directors of SME’s throughout the UK really need to focus on the visibility of their cash position.

Businesses don’t go bust because they make losses, they go bust because they run out of cash and so it is essential that directors keep their eyes firmly on their cashflow.

2011 ABFA report shows increasing value of invoice finance

The Asset Based Finance Association's (ABFA) annual report for 2011 has indicated how invoice finance is continuing to prove a vital source of external funding for UK enterprises.

Almost £250 billion worth of cash was funded to businesses across the UK throughout 2011, a rise of 7.6% on 2010.

Invoice discounting facilities continued to prove the most popular in terms of client numbers, with 17,695 companies benefitting from more than £200 billion in advances, an increase on 14% from last year.

Invoice Finance continues to grow in popularity

The Asset Based Finance Association's (ABFA) latest quarterly report for Q2 2012 (April - June) has shown that invoice finance is continuing to grow in popularity despite challenging economic conditions.

The latest quarterly figures for April to June indicated that more companies are taking up asset based finance solutions such as invoice factoring and invoice discounting.

Companies using invoice finance report increased turnover, reports ABFA

The Asset Based Finance Association’s (ABFA) latest quarterly figures have shown that companies in the UK using invoice finance have seen their turnover grow by on average 6% both this quarter and when taken into comparison to this time last year.

95% of invoice finance lenders across the UK, including Skipton Business Finance, are members of ABFA, the representative body for the invoice finance market.

ABFA reported total client sales for Q1 2012 had reached £59.2bn, rising from £55.6bn last year.