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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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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Aldermore, the new British bank, has appointed Damon Walford as Managing Director of its Invoice Finance business, which markets a range of factoring and invoice discounting facilities to small and medium sized businesses throughout the UK.  Continue Reading

Anil Stocker, Co-Founder of MarketInvoice comments “90 per cent of the business banking market is dominated by just 5 high street banks. A lack of choice in financial products and a monopoly on capital distribution has stifled UK companies’ growth plans, many of which are burdened with unreasonable costs of finance.

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New UK bank Aldermore has announced it has raised £62m in additional equity capital to fund its continued growth. Continue Reading