Asset-based finance 'still readily available'

25/03/2008

Asset-based finance remains readily available to businesses in the UK who are searching for the funds they need, it has been suggested.

Writing for the Western Mail, Sion Barry has indicated that while the credit crunch has made the economic climate more difficult for a number of industry sectors in the UK, it is still possible to access finance.

Mr Barry writes that invoice discounting and factoring services are being turned to increasingly frequently by British firms as they look to secure funding in an environment that has seen banks become more reluctant to lend money.

However, he also suggests that companies should seek out reliable information and advice before entering an asset-based finance deal.

"Funding for working capital can still be found through factoring and invoice discounting, releasing funds from the moneys owed to a business, and asset finance remains readily available," commented Mr Barry.

A report from Barclays recently revealed that last year saw almost half a million new businesses established in the UK.