23rd February 2018
Asset Finance on the up – record breaking trends are positive indicators for SMEs in 2018
The UK asset finance sector is celebrating unprecedented growth despite facing challenges from a sluggish economy and a slow downturn in business investments over the past year. 2018 is off to a great start for the asset finance market, with record-breaking growth for the industry reported towards the end of 2017.
For the seventh year in a row, the leading trade body for asset, consumer, and motor finance sectors, the UK Finance and Leasing Association (FLA), recorded a further increase in asset finance for new businesses, highlighting an overall growth of 5% across the new business sector.
Sectors on the rise An increase in new business was seen across multiple sectors when compared to 2016, with plant and machinery finance rising by 12%, commercial vehicle finance gaining a 1% rise and business equipment finance up by 7%. This upwards trajectory is even more remarkable given the current economic status of the UK, and a lacklustre performance for business investment during 2017.
SME funding For SME businesses, asset finance provides an essential source of funding for business equipment and machinery. And, with SMEs contributing to a total of £18.6 billion in asset finance for 2017, a massive 12% higher than in 2016, they appear to be an ever-growing market for this alternative finance industry.
Investing in UK businessesThe FLA saw almost £128 billion of new finance provided to UK businesses and households in 2017, with £32 billion going to businesses in the public sector, also financing more than one third of UK investment in machinery, equipment and software.
With asset finance at an all-time high, there’s never been a better time for SMEs to invest in new assets, or release equity from existing ones through asset refinance. If you’re looking for support when it comes to business equipment, commercial vehicles, or agricultural finance in 2018, asset finance could be the perfect solution to help you manage your cash flow.
Speak to one of our regional business development managers who will be happy to discuss your asset finance proposal, or get in touch with one of our central team on 0161 832 8484 to find out more on asset finance and how Davenham Asset Finance can support you.
For the seventh year in a row, the leading trade body for asset, consumer, and motor finance sectors, the UK Finance and Leasing Association (FLA), recorded a further increase in asset finance for new businesses, highlighting an overall growth of 5% across the new business sector.
Sectors on the rise An increase in new business was seen across multiple sectors when compared to 2016, with plant and machinery finance rising by 12%, commercial vehicle finance gaining a 1% rise and business equipment finance up by 7%. This upwards trajectory is even more remarkable given the current economic status of the UK, and a lacklustre performance for business investment during 2017.
SME funding For SME businesses, asset finance provides an essential source of funding for business equipment and machinery. And, with SMEs contributing to a total of £18.6 billion in asset finance for 2017, a massive 12% higher than in 2016, they appear to be an ever-growing market for this alternative finance industry.
Investing in UK businessesThe FLA saw almost £128 billion of new finance provided to UK businesses and households in 2017, with £32 billion going to businesses in the public sector, also financing more than one third of UK investment in machinery, equipment and software.
With asset finance at an all-time high, there’s never been a better time for SMEs to invest in new assets, or release equity from existing ones through asset refinance. If you’re looking for support when it comes to business equipment, commercial vehicles, or agricultural finance in 2018, asset finance could be the perfect solution to help you manage your cash flow.
Speak to one of our regional business development managers who will be happy to discuss your asset finance proposal, or get in touch with one of our central team on 0161 832 8484 to find out more on asset finance and how Davenham Asset Finance can support you.