Factoring: a flexible friend

Article Abstract:

The UK's factoring industry has been very successful for decades. Since 1981, it has been posting average growth of nearly 20% annually. In the first months of 1995 alone, the members of the British Factors and Discounters, who account for 90% of the industry, collectively advanced funds against invoices worth over 14 billion pounds sterling. This represents a 28.1% increase over the same period in 1994. The explosive growth of the factoring business is attributed in part to its focus on small and medium-sized growth companies, which comprise a booming sector of the British economy. Another factor driving the industry's rapid expansion is the reluctance of high street banks to lend to small and mid-sized businesses. In addition, factoring is growing very popular because it avoids late payment problems and offers flexibility in the provision of services.

Commercial Banks, Commercial Banking, Business Factoring, Industry Overview, Evaluation, Finance, Factoring (Finance)

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Standard sets environmental goals

Article Abstract:

UK companies will soon have to contend with British Standard (BS) 7750 pertaining to environmental management in addition to the quality systems standard (BS5750). The draft standard is presently beingreviewed, with the final version expected to be released in Sep 1993. Reactionsto BS7750 are mixed. A member of the Federation of Small Businesses think that the standard will lessen the competitiveness of small businesses since compliance will be more costly and time-consuming for them. The timing of the standard's introduction is also criticized considering that British companies are struggling to survive a fourth year of recession. Others view BS7750 more favorably, including the Confederation of British Industry's Andrew Blaza who see the standard as a good preparation for compliance with the EC's Eco-management and Audit Scheme regulation.

Air, water, & solid waste management, Standards, Environmental aspects, Environmental protection, United Kingdom. British Standards Institution

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