Broker-introduced asset finance rose to £714m
(€808m) in the three months to February 2011 – a 31 percent rise
compared to the same period last year, according to the Finance
& Leasing Association (FLA).
Over the 12 months to February 2011, broker
finance stood at just under £3bn – up from £2.5bn compared to the
previous year.
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Julian Rose, head of asset finance at the FLA,
described the figures as “encouraging” because they show that small
businesses are looking to invest in new equipment and are using
asset finance.
Rose said: “The asset finance market has
turned a corner and grew by 20 percent in the three months to
February compared to the same period a year ago. Commercial
vehicles, plant and machinery, and business equipment have led the
charge, showing the most growth. Brokers have a role to play
in helping small businesses to find the best deals available across
the market”.
Commenting on the figures, Adam Tyler, chief
executive of the National Association of Commercial Finance
Brokers, said: “The increase in business from brokers also
highlights the value that businesses put on the advice and
expertise offered by experienced brokers, who draw upon their
wealth of knowledge to access the best suitable terms for their
clients.”
He added: “The recent upturn in activity from
SMEs also offers very encouraging signs showing that they are
investing in new equipment, which in turn will inject new life and
growth into the economy”.
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By GlobalDataronan.mccaughey@vrlfinancialnews.com
