Tagged bibby

Highest annual growth in retail spending despite upcoming vote

Figures released last week show that retail sector sales are up by 4.7% on last year – the highest rise in nearly 12 months.

The British Retail Consortium’s survey shows that the sales are up by 1.7% on the previous month. This is despite the fact that people may lose confidence in the economy during the upcoming General Election.

Easter came early

Much of the reasoning for the upturn in sales is down to the fact that Easter has come earlier than it did in 2014, with sales expected to drop back down next month. But nonetheless, it is still a rise compared with previous figures.

The BRC’s director general, Helen Dickinson, said the sector was seeing “slow but steady growth”, but that April’s sales growth is likely to be weaker due to Easter timings effects.

Retail spending in the first three months of 2015 overall was 2.8% higher than last year, compared with a 1.5% rise in the last quarter of 2014. An unclear outcome from the election could still impact the retail outlook.

Value of the pound is falling

The pound is still concerning to the economy. The pound is now at its lowest value in five years. With the election just around the corner, it is hoped that the British public maintain confidence in parliament – regardless of the outcome.

The retail figures have been released with in-store prices measured by the BRC to be falling at their fastest rate since 2006. Other surveys have also reported rising consumer morale because of the record-low inflation and the fact that wages are starting to pick up after years of stagnation.

Let’s hope that whatever the outcome at the election, and whatever the make-up of the next Government is, that we keep the recovery going and continue to build on the growth that many business owners have seen in the last few years.

About the Author

Having worked in financial services for over 36 years, Andrew Darling is a specialist in invoice discounting, factoring and trade finance solutions. He currently manages the development of business with higher turnover companies at Bibby Financial Services, specialising in corporate finance for businesses with turnover of £5 million or more.

Andrew Darling discusses Construction Finance

At the UK’s leading independent invoice finance specialist, Bibby Financial Services, we’re constantly looking for ways to improve the way our funding works and what businesses and SMEs look for when it comes to finance.

Bibby Financial Services

Every company, business owner and SME is different.  And naturally, so are each of our services. Our range of products have evolved over the years to reflect the needs of our diverse client base and changing economy. And in 2015, we aim to help even more business owners to fulfil their potential through alternative forms of finance.

Construction Finance

One of our core products is Construction Finance, in which we offer specialist funding for construction businesses. Due to the unpredictable nature of the construction industry, and the problems facing smaller firms – such as payment issues, government red-tape, skills shortages and rising labour and material costs – cashflow and funding can often be effected.

What do we offer?

Providing cash advances against outstanding billing and uncertified applications, we allow businesses to access money earlier, rather than waiting for customer payment. We can fund applications before they are certified and provide full, confidential credit control and sales ledger management services enabling businesses to maintain customer relationships.

An expanding sector

It’s a form of funding which works well in the construction sector, where businesses often have to cope with extended payment terms and debt issues. And as many of the UK’s small construction businesses plan for growth in 2015, it might be time to consider the benefits of alternative forms of finance.

To read more about Construction Finance, head over to the Bibby Financial Services’ website.

You can also find out more about construction SMEs by reading Bibby Financial Services’ new report ‘Planning for Growth: Construction SMEs in the UK’.

About the Author

Having worked in financial services for over 36 years, Andrew Darling is a specialist in invoice discounting, factoring and trade finance solutions. He currently manages the development of business with higher turnover companies at Bibby Financial Services, specialising in corporate finance for businesses with turnover of £5 million or more.

Andrew Darling 2014 Review: Part 2

At Bibby Financial Services in 2014, we saw record breaking highs in funding, successful mid-market promotions, the launch of our advert on Sky TV and the conclusion of our highly-praised ‘Fit For The Future’ events – all high points for the company. But in 2014 we continued to publish key reports and guides for both SMEs and the wider financial services community.

Sharing our knowledge and resources has always been an important part of our work at Bibby Financial Services. Our comprehensive insights into the alternative finance sector, the economy and beyond have been a staple of ours for years now – and 2014 was no different.

One of our most important publications, our quarterly index of small and medium-sized enterprises provides readers with vital information about the turnover of businesses across five industry sectors – manufacturing, construction, transport, wholesale and business services.

Alongside our quarterly index reports, 2014 also saw the introduction of a number of individual specialised reports and guides. These invaluable resources were published via the Bibby Financial Services Blog throughout the year, and provided on-point information for business owners, entrepreneurs, finance specialists and more.

Our West Midlands report focused on the business environment in the region was released in October to coincide with the official opening of Bibby Financial Services’ West Midlands Business Centre. The research and findings highlighted a growing confidence among businesses in the West Midlands when compared with other regions in the UK and featured on BBC Midlands Today.

As well as region specific publications such as our West Midlands report and SME Sentiment Scotland research, this year we published reports and guides that helped to build on the benefits of alternative finance.

‘Livelihood businesses in the UK – A study of micro-enterprises’ was one such report and provided some excellent findings about microbusinesses.

It’s great to be able to look back at the achievements of Bibby Financial Services in 2014, and the scope of our on-going work. I hope that our drive to innovate does not distinguish in 2015 and that we can continue to be an invaluable source of information in the future.

About the Author

Having worked in financial services for over 36 years, Andrew Darling is a specialist in invoice discounting, factoring and trade finance solutions. He currently manages the development of business with higher turnover companies at Bibby Financial Services, specialising in corporate finance for businesses with turnover of £5 million or more.

Andrew Darling 2014 Review: Part 1

As we quickly approach Christmas and the New Year, our minds turn to spending time with family and friends, however, it’s hard not to look back at 2014 and reflect on what a great year we’ve had here at Bibby Financial Services.

Part of our role as the UK’s leading independent invoice finance is not only to provide growing businesses with flexible and reliable cashflow solutions, but to raise awareness of alternative forms of funding so that SMEs can make informed decisions about their future. And this year, in 2014, I believe we’ve been able to do just that.

This year I celebrated my 25th year in the invoice finance sector, since joining the industry in 1989. Having spent 10 of those years at Bibby Financial Services, it’s great to see the business perform so well in 2014.

In August, we celebrated what was a record breaking month for Bibby Financial Services. Q3 on the whole was very strong, and we boosted funding to UK PLC from £392m to £415m, representing a 5.8 per cent increase in just three months.

Following on from a more than healthy summer and Q3, our team in the North East were recognised for their hard work at the North East Dealmakers Awards. The team were awarded Asset Based Lender of the Year for the second year running – an amazing achievement for alternative finance in the North of England.

As well as receiving praise from industry professionals, 2014 has provided us with opportunities to give back to the business community. Bibby Financial Services’ series of ‘Fit For The Future’ events were a great success; helping business owners and intermediaries to network and hear from some inspiring speakers.

After a run of dates hosted in Sheffield, Durham, Aberdeen, Glasgow, Brighton and Birmingham, the ‘Fit For The Future’ roadshow came to a close in London earlier this month, with over 100 of the City’s leading business advisors and SME owners in attendance. It was a fitting end to the series of events, and I look forward to seeing what 2015 brings.

About the Author

Having worked in financial services for over 36 years, Andrew Darling is a specialist in invoice discounting, factoring and trade finance solutions. He currently manages the development of business with higher turnover companies at Bibby Financial Services, specialising in corporate finance for businesses with turnover of £5 million or more.

Bibby Financial Services: Micro-Enterprises

Micro-Enterprises

Micro-enterprises may well be small in the grand scheme of things, but their contribution to the UK economy is unescapable – with 95 per cent of all private sector businesses classified as micro-businesses (one to nine employees). Family run and small-staffed companies are a central part of the business landscape here in the UK, and act as inspiration to many.

Benefiting from Specialist Funding

Multi-tasking, resilient, flexible and determined, micro-business owners in 2014 are what’s great about trade and enterprise within the UK today. And with such tenacity and well-grounded work ethics, it’s really encouraging to see that our country’s home-grown business owners can benefit from specialist funding and finance.

Forward Finance

Services such as Forward Finance can help small businesses to guarantee dependable cashflow, and bring about more security as a result. Micro-enterprises can use alternative forms of funding to release cash tied up in invoices, so that they can get back to doing what they do best – running their business.

You can read more about micro-Enterprises and find the results from our Livelihood businesses report online today.

If you’d like to find out more about alternative funding and Forward Finance, or if you have any questions about how either work, visit: www.bibbyfinancialservices.com or call 0800 91 95 92 today.

About the Author

 Andrew Darling is a specialist in invoice discounting, factoring and trade finance solutions and has worked in financial services for over 35 years. He is currently Corporate Manager at Bibby Financial Services where he works with high-turnover businesses. Andrew has been with Bibby Financial Services for over 10 years and specialises in corporate finance for businesses with turnover of £5 million or more.