Two positive pieces of news hit the streets this morning. The accountants BDO released their latest business trends report showing that business confidence is improving and has reached its highest level in nine months. The actual jump in confidence was the largest month on month figure since December 2009.
Also released were industrial output figures for the UK. While monthly growth figures were slightly lower than expected optimists have pointed to quarterly figures that show growth and that the trend is in the right direction.
Whether higher oil prices and continuing Euro problems will allow this to carry through is a moot point but it does show that there are maybe some green shoots out there.
As always the big question is how to finance this growth at a micro level? The banks are still stressed so it looks as though the opportunities are still there for invoice finance companies. Debt factoring is increasingly the solution for SME’s encountering problems in obtaining overdraft finance and it does not looks as though this is going to change any time soon.