The figures show that although the number of companies using Invoice Finance stayed more or less the same the amount they financed grew by 9% to £16billion in the last quarter of 2011. The report suggests that despite the tough economic climate businesses that use Invoice Finance are growing, with exports being one of the strongest areas. This news comes on the back of another ABFA release in December 2011 which said that UK companies use more Invoice Finance related funding than any other country in Europe.

But despite this positive news the figures show that the majority of UK businesses opt not to use Invoice Finance to inject much-needed cash in to their companies and many experts believe a stigma about the service is to blame.

Simon Taylor, Business Developement Manager at TrackCompare.co.uk said “The number of UK businesses that use Invoice Finance facilities has been static for some years and the financial downturn has made little difference, despite the relative difficulty in obtaining credit through other means. The growth of SME’s is vital to the UK economy, very few businesses fully understand the benefits of Invoice Finance although almost all of them would like to release the cash tied up in their debtors list. Credit accounts are a weight around the neck of most businesses and Invoice Finance can change that over night”.

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New deals come on the market all the time and you could find an alternative invoice facility which will save you money. Here are a few ways you can save money on invoice factoring.

• Has your turnover increased? If so then you could probably obtain much lower service fees.
• If you have an invoice finance facility which is restricted, you may be able to obtain an invoice finance facility which gives you much improved cash generation.
• If you are paying minimum base rate then you will more than likely not be benefiting from the very low base rate which is in existence at the moment.

As with any financial products, the deals you can obtain fluctuate a great deal even over a period of a year. This is due to an ever changing financial landscape. It’s important to make sure you are getting the best deal you can, as the savings can amount to thousands of pounds over a 12 month period.

It’s also important to remember that you can approach your current invoice finance company with deals you have been offered by their competitors and they may be able to better the offer or at least match it. This will save you time and effort swapping to a new factoring or discounting provider.

To compare invoice finance services click here.

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Once the administrators have been in talks with BP they hope to restart deliveries, but until such time there will zero output from the Coryton refinery. This could cause major problems to the distribution of fuel and in turn an increase in fuel prices warns the AA.

The Coryton oil refinery supplies around 20% of the fuel consumed in the South East of England including London. For this reason if it is closed for too long it will badly upset the distribution and this will force an increase in prices which are on average only 1p from the highest they have ever been.

Such fuel increases in the South East could have a knock on affect for the rest of the UK, forcing up prices of food and other goods throughout the UK.

Petroplus went into administration because they failed to overcome problems such as high crude oil prices and being able to compete with Asian super oil refineries. This is a problem which the whole industry is suffering from in Europe.

BP has said they feel that there are no immediate problems with supply to their petrol stations which got their fuel from Coryton, as they have sourced an alternative supply.

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Lee Robinson is a physiotherapist and knew for a fact that the taxi driver could in no way have got whiplash from an accident at such a slow speed. His insurance company recommended that he give into the claim and pay the £2000 damages, but he was going to have none of it.

He challenged the claim in court and won the case. This could mark the start of more cases where injury claims are disputed. There is a real problem with false injury claims as it is forcing the cost of car and van insurance up significantly. The steep rises in insurance premiums are making the cost of running a car far too expensive for some to afford and are for businesses it increases the cost of running their fleets and lowers profit margins.

The problem needs to be addressed and quickly and this case will hopefully be the beginning of the end for the huge number of false claims made every year here in the UK.

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Before the details of the journey you intend to take are added to the application you can choose the type of vehicle you are travelling in. There are, obviously, a wide range of vehicles from Vauxhall on the application but also a variety of vehicles from other manufacturers. ‘RoadTrip’ helps your employees to record their work journeys easily and efficiently, eliminating any potential for error.

The details from the application can be password protected, saved and converted into an Excel format ready to be emailed to the fleet manager. This saves the fleet manager’s time because they would no longer have to chase employees for their mileage claims and correct errors. Your employee will also have more time to be able to focus on their work activities, improving productivity.

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Vehicle tracking eliminates this issue and does not take the vehicle off the road for long as the installation is a relatively short process where a box is installed in the vehicle, usually behind the dashboard. When the installation is complete, fleet managers can ‘see’ the location of all vehicles on their PC. The vehicle tracking solution is not intrusive to fleet managers performing their other tasks as they can look at it as and when they need to and not watch the system constantly.

Employees who are performing the tasks they are supposed to, when they are supposed to, have nothing to fear from a vehicle tracking system being installed into their vehicle. In cases such as these, which do apply to the majority of people, a vehicle tracking system can show employers how hard their employees are working and it can provide promotional opportunities to the employee.

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The last and only time the figure has dropped below 2 million car registrations since 2000, was in 2009 in the middle of the recession. In fact if it was not for the government scrappage scheme in 2010, there would more than likely have been a drop in car registrations in 2010 as well.

This is a sure sign that less people are buying cars these days and that we are still suffering the effects of the recession.

The largest sector of the UK car sales is the business market, which accounts for 60% of all the new cars sold in the UK. Many of the cars sold to the business sector of the market were leased and car leasing also saw an increase in 2011.

Another sector which is on the rise is non petrol vehicles such as diesel vehicles. What has driven this growth is the rise in petrol prices which has driven people to look for more economical alternatives. Diesel vehicles offer a great solution to this by giving motorists a lot more miles to the gallon than petrol vehicles. And while diesel is more expensive and has also risen in price, it is still cheaper to run a diesel vehicle due to the increased efficiency. Also you can benefit from lower road tax on diesel cars.

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West Oxfordshire District Council is a small local authority based in Witney and the reductions that have been made are particularly impressive considering their size. Fleet managers at the council decided to analyse in detail the ways that they could reduce their outgoings, in line with government cuts.

It was discovered that the council’s fleet was accounting for a high percentage of their carbon footprint, and with 91 vehicles, shrinking the carbon footprint would help the environment and help the council to spend less money.

These efficiencies have been made through a combination of the journey planning function on Quartix’s vehicle tracking system and through driver training programmes. Journey planning helps fleet managers to direct vehicles to the quickest route to their destination so less fuel is used and fewer emissions are made. Driver training programmes make employees aware of how their actions affect fuel efficiency and will hopefully prevent the appearance of ‘negative’ driving behaviours such as excessive speeding, braking and idling.

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It is classed as a medium sized van and boasts load capacity, load length and a low floor height which make it the best in its class. You can load onto it 2 euro pallets and pull up to a 1100kg braked trailer, which is quite impressive for a van of this size.

They are also very well equipped vans and include the following features as standard:

• Bluetooth Connectivity
• Rear View Digital Camera
• Fog Lights at the front of the vehicle
• Stereo with MP3 and CD capability
• Two Sliding Side Doors
• Full Steel Bulkhead

These vehicles cost from £16,790 brand new and if you lease a Nissan NV200 you can expect to pay from about £155 per month ex VAT. Leasing a van will mean that you can claim all your VAT back as long as the van is only used for business purposes. The HMRC accept vehicle tracking historic reporting as a proof of business millage and a basic tracking system can start from just £11 a month.

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Volvo has put this down to very attractive contract hire deals which include competitive monthly prices and no cost maintenance of the vehicle. Also it is believed that many people like the idea of having a set monthly price to pay which helps with budgeting in these hard economic times. With maintenance of the vehicle included this can be achieved. Also leasing a vehicle makes it easier to upgrade your vehicle on a frequent basis, say every two or three years.

It is possible that in the future car leasing or contract hire becomes the preferred option for motorists, as people look to reap the benefits that it offers.

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