Given the ongoing turmoil in financial markets, Leasing Life, in conjunction with finance consultancy Invigors, is updating its Pan-European barometer survey of business confidence in the Asset Finance industry. Targeted at all industry professionals, the objective is to create an authoritative, up-to-date perspective on the outlook for the Asset Finance industry across Europe. Continue Reading

The old adage of ‘cash is king’ has never been more relevant than in the current downturn where businesses need to redouble their focus on strengthening liquidity in order to consolidate trading positions.

Continue Reading

Statistics from the Asset Based Finance Association (ABFA) revealed that the UK’s asset based finance industry continues to grow despite the severe downturn in the UK and world economy.

During 2008, the sector far exceeded expectations, and at the end of the year was advancing in excess of £17 billion to UK businesses.

End of year results from the ABFA show that the industry is worth £208,014 million, a growth of nine per cent on last year’s figure of £191,401 million. This form of finance, which allows companies to release liquidity tied up in assets, has undergone rapid growth recently and is growing faster than general lending.

While the majority of advances are against debt, such as sales invoices – the latest figures highlight that advances against stock are on the rise. Over £1,603 million, an increase of 168 per cent on 2007’s, was advanced to companies during 2008.

The falling pound also continues to effect UK businesses. The use of export invoice discounting jumped by 34 per cent during 2008 indicating that more businesses are looking overseas in order to find new contracts, perhaps in an effort to move away from the slowdown in the UK.

Kate Sharp, chief executive officer at the ABFA, said: “It is no surprise that as a result of the tightening credit market, more and more companies are using their assets to their advantage. Despite limited liquidity elsewhere, the asset based finance industry has proven its resilience and has shown that it can continue to grow in tough economic conditions. More importantly, our members have given UK companies who have experienced tightening lending conditions a lifeline.”
The sector split for clients using asset based finance is evenly split between manufacturing and services indicating its broad appeal to the business community.

Contributed by Factorscan
www.factorscan.com

Five of the North West’s leading turnaround and insolvency experts have joined forces to launch a £20m investment fund to salvage distressed businesses.

Continue Reading

By Paul Fletcher, Partner – Griffins:  Is Fraud a victimless crime that we should ignore as nobody really gets hurt? 

Continue Reading

ICC, the acknowledged authority in the provision of UK company, risk and financial information, now delivers real-time insolvency information directly to your inbox.

Continue Reading

Finding staff to support the growth of business restructuring and administration cases is placing teams across the region under pressure,  according to Andrew Buchanan, head of corporate recovery at Halliwells.  Speaking at a recent Pro.Manchester breakfast discussion, he said the industry had adapted well over the past five years but the level of demand was unprecedented.

Continue Reading

The Bank of England has cut interest rates to another record low of 0.5 per cent and confirmed plans to plough £75bn into the economy to boost bank lending.
Continue Reading