The busiest week since Factoring Partners began trading again in earnest in September. Over 100 invoice finance clients have been spoken to as part of an exercise to gauge levels of client satisfaction.
Over 75% of those spoken to who offered an opinion expressed partial to complete satisfaction with their existing facility, both in terms of working capital released by the facility and suitability of the service received.
The balance were either indifferent to the facility received, unwilling to pass any comment or expressed outright concern as to the suitability of their current facility. This latter group is where an experienced, independent broker should be able to assist and hopefully wheels are in motion for this to happen.
We have also spoken to some larger SME’s (£25m t/o pa & larger) about supplier finance and the availability of such facilities, enabling them to standardise and extend terms under which they purchase without penalising the supplier chain. Buyers benefit from extending terms given obvious cash benefits and suppliers can benefit too. Recently this area has been the banks territory offering supplier finance agreements, largely, to investment grade buyers. Smaller, well rated (credit) businesses now also have access to this market.
A networking trip to Birmingham involved the annual visit to the now famous German Market which seemed busier than ever. Back next week.