Campbell & Fletcher: Alternative funding good news for local businesses

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By Tracy Fletcher, director of Campbell & Fletcher

“The last 18 months have seen an increase in recruitment within the financial services industry following on from a recovery within financial services itself and an improving appetite to lend to SMEs.

Whilst high street banks continue to dominate the financial horizon, we have been delighted to see a raft of alternative funding providers springing up offering a wide range of products, from equity-backed loans to invoice finance, bringing welcome alternative career opportunities to our candidates.

A new generation of P2P lenders are grabbing the financial headlines with crowd-funding and spot invoice finance leading the way.

The Bank of England’s latest Trends in Lending figures, issued on April 19, showed net lending by the high street banks to have declined by £5bn – 25% more than the previous quarter.

The report reveals that peer-to-peer lending could emerge as a challenger to the existing model of bank lending. Currently P2P business lending is a small market, accounting for £120m annually, but based on the trends and motivations of lenders in the research it predicts that P2P has potential to deliver as much as £12.3bn in business lending annually

Much of this activity has, up-to-press, been focused around the City but as these funders are becoming more established and reputable they are focusing their sights on the wider UK market.

Eyes inevitably have fallen on the West Midlands where businesses are crying out for alternatives to the traditional high street bank options as they strive to grow and prosper. The great news is that a number of high-profile funders are committed to developing a proposition in and around the Midlands and we are currently working with them to identify high calibre candidates.

In an already strong commercial market this has to be great news for the local economy. If you’d like to learn more about career opportunities within Financial Services within the Midlands we would be delighted to hear from you. And if you are looking for talent to add to your organisation look no further – we are here to help.”

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