This blog forms part of a series where we identify common themes and trends over the previous month.
Introducers in the UK market returning to invoice finance as a core solution as CBILS draws to a close
There is strong demand for US$ in Ireland, UK and Canada, highlighting the continued interest in SMEs to look beyond Europe post-Brexit.
Businesses appear to be paying on terms with the average number of days of overdue payments reduced dramatically*
There has been a slight uplift in number of client enquiries in the recruitment and retail sector*
Average facility sizes remain predominantly between €50k-€100k * – but with a slight increase in those in the Health Care sector in Ireland – an effect of Covid *
Business confidence in the UK appears no further negatively impacted despite being 1 month in to extended lockdown
Supplier client and buyer countries remain well spread across Europe, North Americas and Asia* showing that international trade is continuing, despite challenging conditions
Industry sectors remain well spread with particular focus on professional services and manufacturing *
Slight increase in concerns around Brexit for exporters & lack of clarity on border restrictions
Credit insurance risk appetite continues to tighten
Supply chains and ultimately the invoicing cycle continue to slow with reduced orders
* Data has been provided by the Accelerated Payments proprietary system
Dylan Martin, Head of Operations. Through our leading edge Fintech portal and expert team, SMEs can access on demand working capital to cover operational costs, payroll and growth
Guy Jones and I head our UK team. We’ve been funding the SME community since we started in 2017 and we’ve been able to supply funds throughout the Covid crisis.