Expanding business support in East Anglia


In a recent Bibby Financial Services study of 1,000 SMEs in East Anglia, we at found that more than two thirds of business owners are expecting growth over the next three months. With this come new opportunities for the region and the supply chains of these businesses.

To support the growth in this region, I’m delighted to announce that we have appointed Paul Coase and Simon Boddy as Business Development Managers to increase our funding support to local businesses.

Following six years selling online merchant services to businesses across the UK at Qixpay Limited, Paul will be responsible for lending in Peterborough, Norwich, Ipswich and Colchester, whilst Simon – who returns to Bibby Financial Services following nine years at Lloyds Bank Commercials Finance – will have a specific focus on businesses in Lincolnshire.

We’re currently providing upwards of £27 million in funding to businesses in the region and areas such as Silicone Fen, Peterborough, Ipswich and Norwich are all significant targets for us in 2014 and beyond.

Both Paul and Simon join the Bibby Financial Services team based in our satellite office in Peterborough. Looking further ahead, we may look to develop an operational presence in the area but the important thing is that we can provide support to businesses in the area now – at a time when the economy is growing, along with opportunities.

David Postings

UK CEO, Bibby Financial Services

About Bibby Financial Services

Bibby Financial Services is the UK’s leading independent invoice finance specialist and a trusted provider of cashflow funding solutions to 7,000 businesses, handling annual client turnover of £4.9 billion and advancing in the region of £388 million.

For more information about Bibby Financial Services and their comprehensive range of specialist invoice finance solutions please visit www.BibbyFinancialServices.com.

About David Postings

David Postings is the UK Chief Executive Officer for Bibby Financial Services following his appointment in April 2012. David is an experienced senior executive with over 35 years’ experience in financial services. David has extensive knowledge of the commercial finance landscape.

You can read more about David Postings and his position at Bibby Financial Services in the About Me Section.

First quarter optimism and looking ahead to Q2 figures


As we approach the end of the second quarter, I’d like to take a look back at the first three months of the year in relation to SME performance.

The Business Factors Index for Q1 2014 showed positive performance – continuing from Q4 2013 – recording the highest business activity opening of an opening quarter since 2008. It’s encouraging to see that the good news of recent quarters continuing, with strong levels of business activity so far this year.

Commentators are widely expecting 2014 to be a good year for the economy, with overall GDP growth in the region of 2.5%. So far this year, our Business Factors Index is certainly backing this up.

Given that activity is traditionally lowest in the first quarter – after a flourish of activity around Christmas – it always takes a little while for momentum to be regained in the New Year so we can take heart from this robust performance at the start of the year.

Separate research we conducted amongst over 1,000 SMEs (the SME Tracker) found that 70% of businesses were expecting some or significant growth throughout April, May and June so it will be interesting to see if this optimism translates to performance.

Nothing is ever certain though and there was a noticeable dip in construction sector performance which serves as a reminder of this. The fall was quite sudden but, with a pick-up in invoices raised of orders seen in March, I believe the picture will look better when figures for Q2 are released next month.

One of the strengths of our Index is that it really reflects how things are ‘on the ground’. Based on invoices issued by 4,000 SMEs in the UK, it provides a window into the companies that form the bedrock of UK business.

Access to bank funding is still an issue for many businesses. This was borne out in a separate piece of research we carried out with 100 manufacturing firms in March, where a lack of bank funding was seen as the single biggest threat to growth.

Such findings only underline that no one can afford to be complacent. The recovery is still in a relatively early phase, which is why it’s vital that companies receive the support and access to finance that they need if they are to continue to grow.

If you’d like to read the full report including sector analysis and a regional round-up, you can download it here.

The findings for our Q2 Business Factors Index will be available in mid-July and I’ll continue to share the findings on this blog.

Thanks for reading.

David Postings