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New approach to commercial finance sees entrepreneurial growth

Category: Scotland Business News — Paul Morgan on October 8, 2013

An increasing number of entrepreneurs are entering the financial sector, with new approaches to commercial finance becoming preferable for many businesses.

However, ensuring that the right facilities are selected is key.

Invoice factoring and discounting have been increasing in popularity for many years; long before the global recession hit in 2007.

Since the downturn though, and with firms keen to reduce credit lines and maintain cashflow, the sector has enjoyed significant growth.

This is true in Scotland and in cities across the UK, where SMEs in particular are keen to unlock the cash held up in outstanding invoices to stay afloat.

So successful have these facilities been, that many firms have not only managed to survive challenging environments, they have been able to thrive.

The success of the industry has also unlocked new career opportunities for many entrepreneurs, with new invoice finance firms opening up. Many of these are working under the auspices of a successful franchise model, while others operate as an independent start-up.

Using the services of a professional, or a reputable invoice finance broker, will allow companies to find the best deals out there, as well as assisting with due diligence checks and unlocking important information.

A broker will not only ensure that established invoice finance providers are contacted, they can also allow factors not known outside of the industry to be found. Many of these providers are keen to enter specific industry sectors, such as construction, manufacturing or engineering.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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