Research by the global money specialists Oxford Economics has shown that productivity amongst Finance and Leasing Association (FLA) members is seven times above the average for business sectors in the UK.
The team looked specifically at the contributions that the members of the FLA had made to Britain’s economy. In terms of individual worker output, the industry was in the top 2% of the nation’s industries.
During 2014, FLA members contributed £11bn to the economy. That works out at 0.6% of the country’s GDP. It is estimated that this lending activity supports the employment of 76,700 people.
In 2014 alone, members provided £26bn of fresh finance to all forms of businesses. They mainly did so by offering asset financing, hire purchase and leasing products. Nearly 28% of investments in equipment, plant, machinery, and software were financed in this way.
The FLA’s head of asset finance, Simon Goldie, said:
“Leasing and hire purchase can make the difference between firms getting the equipment they need to thrive, or being left behind. Asset finance should be part of the conversation any business-owner has when thinking about investment.”
Most of the firms that borrowed in this way were SMEs. Without this form of finance, many companies of this type would find it impossible to borrow the money that they need to buy new equipment or manage cash flows.
If you are looking for an easy way to borrow capital, the services we provide at DJB are ideal. We can arrange finance for most firms quickly and at a low cost.