Local councils still take up to 38 days to pay suppliers
24 April 2017
The slowest-paying local councils took on average 38 days to pay their suppliers last year, says new research by the Asset Based Finance Association (ABFA).
Payment times to suppliers by local councils have remained persistently high in the past year, with the national average dropping just 1% from 16.53 days in 2014/15 to 16.35 days in 2015/16*.
ABFA represents the industry at the Business Show in May
10 April 2017
The show will include 170 interactive masterclasses and 250 seminars as well as their biggest line-up of guest speakers ever, including former Dragon Hilary Devey, winner of the BBC's Apprentice Mark Wright and Google's Head of Marketing Raja Saggi.
Asset based finance seizes market share from bank overdrafts as vital source of funding for SMEs
28 March 2017
Asset based finance is increasingly taking market share from bank overdrafts as a key source of funding for SMEs. The ABFA explains that at any one time an average £9.5 billion was lent to small and mid-sized businesses in asset based finance in 2016 – up 3% from £9.2 billion in 2015. At the same time the amount of outstanding bank overdrafts decreased by 2% to an average £12.4 billion last year, down from £12.6 billion in 2015**.