Brexit has dominated the political and business headlines for more than two years. Yet still thousands of UK business owners across the country remain unclear on what the impact on their business will be.
Regardless of the uncertainty ahead, SMEs are not letting it affect their growth aspirations. In uncertainty lies opportunity, but it will need quick, flexible funding if SMEs are to take advantage before the moment is gone.
As we make our way towards March 29 and beyond, banks are likely to become more cautious and decisions are likely to take longer. In an environment where the inability to forecast is among the top Brexit challenges, these delays could cause catastrophic damage to businesses.
Read the full article at: https://www.financialdirector.co.uk/2019/02/11/why-alternative-finance-is-on-the-rise/
Invoice finance and asset-based lending in the UK stood at £22.2 billion at the end of 2017, up five per cent on the funds advanced at the end of 2016, figures published by UK Finance reveal.
Invoice finance and asset-based lending to small businesses increased by 19 per cent in December 2017 compared to the previous year, with advances worth a total of £833 million.
Annual sales of clients supported by invoice finance and asset-based lending stood at a record £311 billion in 2017, up four per cent on 2016.
Annual sales from clients through export invoice discounting facilities stood at £27 billion in 2017, up 21 per cent on 2016.
Read more at: https://www.globalbankingandfinance.com/invoice-finance-and-asset-based-lending-rises-5-per-cent-to-23-4bn-at-end-of-2017/