Venture Finance’s first half figures make interesting reading set against the Asset Based Finance Association’s (AFBA) recently released 2007 year-to-date statistics. ABFA noted non-recourse finance (where clients are protected against insolvency or default of their customers) as the fastest growing industry-wide segment, with growth up 21 per cent on the same period in 2006. In comparison, Venture achieved growth of non-recourse finance exceeding 50 per cent over of the industry average.

The ABFA’s quarterly statistics shows the industry to be in strong shape. A total of £83.4 billion worth of client sales was achieved between January and June 2007, representing an increase of 10 per cent in comparison to last year. Venture Finance has seen clients increase by 7 per cent, to number over one thousand. This mirrors industry growth of 6 per cent.

Export factoring is another area where Venture is outperforming the industry with 35 per cent growth recorded in 2007, compared to an industry average of 14 per cent. This growth reflects the increasing focus of UK manufacturers on the export market, as well as Venture’s experience in understanding the different risks involved with exports. Domestic factoring is also going from strength to strength with Venture experiencing a growth of 22 per cent when the industry as a whole is growing at 8 per cent.

Steve Websdale, Director of Venture Finance, comments: “Venture delivers very high, personalised service standards, helping SMEs take advantage of market opportunities. We have noted clients increased concern over certain weaknesses within the UK economy, fuelled by a number of well-publicised business failures. This has significantly encouraged greater use of our Bad Debt Protection services, thereby effectively safeguarding against commercial loss arising from customers defaulting.

“With very high interest in our Asset Based Lending services, where Venture combines invoice finance with additional asset funding on stock, plant and machinery and freehold, I confidently predict further growth records being achieved in the remainder of the year.”