Included in our ongoing analysis in to the relatively few invoice finance users within the United kingdom and up to date reductions in client figures, we would have liked to find out what of those companies were most positively contacting potential customers, regarding financing.
To get this done we opted for sample of 100 SME companies that have been all a suitable size and within domains that might be appropriate for invoice finance. These were contacted and requested which companies had contacted them over the past 12 several weeks, to be able to promote their professional services.
82% from the companies asked stated that they not been told by any invoice financial institutions within the this past year. It appears little surprise that client figures have been infected with when such a lot of target customers appear untapped.
That leaves the 18% of companies that were contacted by this type of company. We requested these to name the organization which had contacted them and also the outcome was the following:
11% Bank owned invoice financiers
4% A completely independent loan provider (only one was pointed out)
3% A bill finance brokerage (only one was pointed out)
From the respondents that stated these were contacted with a bank, four different banks were pointed out. However, just one respondent stated that it hadn’t been their very own bank which had contacted them.
The implications are the banks with financing arms seem to be probably the most active when it comes to contacting potential customers and in addition they appear centered on their existing banking customers.
Only among the independent invoice financial institutions made an appearance within the results, comprising 4% from the responses.
The possibilities appear the finest among the 82% of respondents that stated they was not contacted by invoice financial institutions within the this past year. This untapped pool of invoice finance prospects can also be apt to be susceptible to lower level of competition using their company providers.