Demand for asset finance from SMEs will continue to grow over the next three years, according to 82% of brokers who participated in a United Trust Bank survey.
This optimism meant that 73% expected to grow their business in 2014, and 26% said their business would remain about the same size.
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When asked about their biggest competition, 42% said direct funders or vendor sales team, 31% said other brokers and 27% felt they were most often competing with the customers own bank.
Martin Nixon, head of asset finance at United Trust Bank, said: "United Trust Bank had another very positive year with a strong finish to 2013 and it appears that, like us, most brokers are finding there’s a strong demand for asset finance.
Nixon added UTB was expanding its funding options in 2014 to include engineering and manufacturing equipment and increased funding options for performance cars in response to a "growing need."
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