Confidence in UK business continues to gain momentum on the back of a reported 0.8% growth in the economy in the first quarter of 2014.
The Office for National Statistics (ONS) announcement marks the fifth consecutive GDP growth, meaning that the UK is officially in its longest positive run since the beginning of the financial crisis.
A Skipton Business Finance spokesperson said this morning: “Although we shouldn’t take the recovery for granted, we should be quietly confident that Britain is beginning to enter a mini boom.”
"We do still feel the impact of the recession but at the same time we are feeling the effects of a boom in our economy.”
"With our specialist funding, our clients are able to vastly improve their cashflow and most are starting to see a marked increase in the business they generate and long may that continue.”
Tuesday's growth figure - the ONS's first estimate for the quarter - is a slight increase on the 0.7% recorded for the final quarter of 2013, and a rise of 3.1% on the same period a year ago.
Invoice Finance helping UK businesses
“It’s just a smarter way for us to improve our cashflow,” said a client of Skipton Business Finance who owns a growing logistics firm in the Midlands.
"We needed funds up front to fulfill big orders and instead of going through the process of applying for a bank loan, we made the decision of obtaining an invoice finance facility which meant that, in drawing cash against our invoices, we were able to access the funds we had earned through our recent business deals.”
“Skipton Business Finance were able to help us and we were impressed with their flexibility and they positive outlook on our existing business plan.”