In one of our previous surveys of 100 SMEs we found that 88% of respondents said that they used overdraft. This is significantly higher than the fraction of 1% that use invoice finance. This led us to investigate why customers seemed to opt for overdraft over invoice finance and if there was anything that could be done to switch customers to invoice finance from overdraft.

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RSM Tenon have launched a new website, findingfinance.co.uk, designed to provide free independent funding advice to business owners.

The website, which went live on 20 January 2012, allows small and medium-sized business owners to look for alternative forms of funding, including invoice finance, asset-based lending, trade finance as well as business loans. The Finding Finance specialist advisers are based throughout the UK and do not charge users or take a commission from lenders helping ensure owners get the best deal for their business.

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SMEs are entering 2012 with mixed emotions according to research by AXA Commercial Lines.

The survey found that while hopes for an increase in turnover are strong, expectations of profitability and plans for recruitment are less positive and it’s widely believed that downward price pressure will adversely affect success.
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As the New Year begins, members of Factorscan’s Editorial Board in the UK, Spain, Canada and Singapore, share their thoughts on the year that was, and consider what may lie ahead in 2012.

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Nationwide, the largest building society in the United Kingdom, is considering offering loans to SMEs to broaden its traditional customer base and fill a gap in the market left by the biggest banks in the country, the Financial Times reports.

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Ben Hayward has been appointed to the role of Regional Sales Manager for the Invoice Finance Division of new British bank, Aldermore.  Reporting to Tony Smedley, Aldermore Invoice Finance’s Birmingham based Regional Managing Director, Ben is responsible for raising awareness of the bank’s invoice finance proposition in the Midlands area.

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• Fastest rise in productivity among small and medium-sized businesses since 2007
• Rise in new customers reported by a third of businesses
• But could lack of confidence see UK growth stall?

Business turnover across five key sectors peaked during the third quarter of 2011 for the first time since the start of the financial crisis four years ago, according to the latest study tracking the performance of 3,500 businesses by Bibby Financial Services.

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Recently a number of invoice finance providers offering selective facilities, where the client can select specific invoices to finance rather than receive finance on all invoices, have entered the market and a few invoice finance auction sites have been launched.

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Eric Lemmens, Global Head of Trade Finance and Supply Chain Finance at RBS UK, and Anil Walia, Head Trade Finance and Supply Chain Advisory at RBS UK, provide an overview of supply chain finance in the United Kingdom for the 2011/2012 edition of the Supply Chain Finance Yearbook.
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The Business Health Index has improved over the past six months, reaching 0.46 in October 2011

However, only 27% of UK SMEs were able to boast a rise in profitability over the same period

21% of respondents state that a cut in Corporation Tax would be the single most important action the Government could take to help businesses grow
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