News Article

Factoring & Invoice Discounting

David Morris, Hampshire Trust Bank responds to BIS ban on anti-invoice finance contract terms

By CreditMan Tuesday, August 11, 2015

The Department for Business, Innovation and Skills (BIS) has announced that the ban on anti-invoice finance terms in contracts will come into force early next year

In response, David Morris, Managing Director of Commercial Finance at Hampshire Trust Bank, said: “With so many SMEs struggling to get the financial backing they need to grow, it’s positive to see the government taking action to break down barriers to alternative forms of funding. A recent study by the Enterprise Research Centre revealed that finance is a barrier to growth for around a quarter of all businesses and a positive solution to this challenge is invoice finance. This type of financing can help businesses increase cashflow, giving companies access to funds when they need it. British businesses need access to a wide range of funding options to reach their growth goals.”