BUSINESS NEWS

FACTORING INDUSTRY GROWTH
The latest figures on the global factoring industry show that it increased 22 percent last year and has developed to a business of over $US1,611 billion. This double digit growth is not only due to overall global expansion but a particular boost in Asia activities with Japan, Taiwan and China growing 20, 40 and 63 percent respectively.

VIRGIN TO BUILD SUPER
The superannuation business is bracing itself for the effects of Virgin's arrival. They fear this well marketed brand will both raise and alter the bar in the way consumers are being sold into investments. Industry analysts say the conservative nature of the business is ripe for an operator like Virgin taking a quick share but doing it by increasing the size of the sector with innovative products.

CUTS BOOST SPENDING?
Many commentators are now insisting the growth of the federal government budget surplus is certain to cause tax cuts in the next budget. They are welcoming this because consumer spending could bounce back to somewhere near its position of late last year. But the situation cannot be so simple as such a boost will almost certainly widen the already bad trading imbalance so forcing the RBA to relook at increasing interest rates.

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THE OXFORD ADVANTAGE

NON-RECOURSE FACTORING GETS TOP RECEPTION

The release of a true non-recourse factoring product has raised the level of invoice factoring to small and medium enterprises.

Oxford Funding’s announcement of Invoice Xcelerator has been well received throughout the industry. It is a non-recourse factoring product which is a financial solution to a business' working capital and trade credit insurance needs. It provides 90 percent funding against Accounts Receivable and then assumes the risk of the customers not paying. If the customers cannot pay, Oxford Funding takes the risk. As well as providing cash flow, this all-new product provides an alternative to trade credit insurance without annual premiums, no excesses nor long term contracts.

Invoice Xcelerator is available with flexibility where the facility grows with the individual business paying for only what is needed, whether this is to be used regularly, irregularly or a once-off. Clients choose which invoices they require funding and credit protection. They are not required to factor all of their invoices.

“The advantages of Invoice Xcelerator includes true flexibility where we can provide funding and credit protection against just one or all of a company's customers.” says Oxford Funding’s Rob Lamers. “And that opens up a new era for this industry in Australia.”

“Invoice Xcelerator is a premier debtor financing product which has introduced a new way such businesses can now expand without the stress of being paid.” Lamers said.

Please find attached the Invoice Xcelerator brochure for further information.

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