Factoring Partners Blog

New Fiver!
New Fiver, Coming Soon!

 

Blog, 3rd June 2016

Another shortened week and with it being half term too, not the busiest of weeks, but one notable success with a prospect that had been sitting in the ‘active enquiry’ data field for nearly a year, finally crossing the finishing line and becoming a client. As detailed in a previous blog tenacity as a characteristic in sales people is critical, never more aptly demonstrated through the conclusion of this particular facility.

Elsewhere a couple of business surveys suggest between one fifth and one sixth of all small businesses have been rejected for finance during the last 12 months. The surveys also highlight the current move away from traditional finance to the ‘alternative’ funding tools now readily available.

I’m profoundly sceptical of surveys, particularly those that dont display sample sizes readily.

Nevertheless, this may coincide with recent figures suggesting the Government’s Funding for Lending (FLS) scheme, launched in 2012 failed to significantly boost lending in the first quarter of 2016. Interesting to note that over half (55%) of aggregate outstanding FLS drawings were via Lloyds, making them the biggest single user of the scheme, by some margin.

I have found, in the last couple of weeks, decision deferment mechanisms kicking in as the referendum looms large. By this I mean businesses not taking decisions, concerned over the outcome. Short term I dont expect a great deal of difference in economic circumstances, as they affect SME’s in the UK. What is predicted is some blood letting within the Conservative Party which should prove entertaining to watch!