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 As
the UK officially moves out of recession, Invoice and Asset Based Lender Venture
Finance PLC has announced positive growth in its client numbers for the last
quarter of 2009.
This is the second consecutive quarter Venture has seen such expansion,
providing further evidence of the rising awareness of Invoice and Asset Based
Lending in the UK.
With the economy growing 0.1% over Q4 2009, Venture own results follow suit,
showing a 43% increase in new clients being supported, compared with the same
timeframe in 2008.
This contributes to an overall increase in new clients of 15% for the year.
The number of new clients taking Bad Debt Protection to shield against
unforeseen unpaid invoices rose has risen from 33% in the fourth quarter of 2008
to 56% in the fourth quarter of
This all comes on top of Venture''s most successful third quarter, in terms of
new client numbers, for a decade.
These results serve as a pleasing footnote to a strong year for the Invoice and
Asset Based Lender.
Venture turned 20 years old in 2009, and initiated an industry think tank
discussion to examine Invoice and Asset Based Lending''s position as a
mainstream funding option for businesses and scrutinise the opportunities to
maximise its potential during the recovery and beyond.
This culminated in the publishing of a white paper designed to stimulate further
debate.
Peter Ewen, Managing Director, Venture Finance explained: "These results are
further evidence that many new businesses are attracted to the dynamic link
Invoice and Asset Based Lending has with sales performance, automatically
adjusting to enable growth during the upturn.
"As news hits that The Bank of England''s asset purchase facility has not lent
any money to businesses in the year since its introduction, it is clear services
like Invoice and Asset Based Lending are the funding options of choice.
"They will be fundamental in helping businesses meet the recovery with strength.
"Looking ahead, we will continue to champion Invoice and Asset based Lending''s
movement into the mainstream of corporate finance.
"The industry must work together towards greater awareness amongst key
governmental and business influencers as well as striving to remove confusing
industry jargon".
Source: Credit
Control Journal
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