Research, conducted by digital marketing agency SiteVisibility, reveals since 2007, the Google search term for ‘invoice discounting’ has decreased by 30 per cent in the four year period between ending December 2012. However, the term ‘invoice finance’ has consistently been the most popular search term and, in 2013, has been 218% more popular than searches such as ‘asset based lending’ and ‘factoring’; the latter having peaked in April 2006 when it was 143% more popular.
These findings also reflect recent figures from the Asset-Based Finance Association (ABFA) which revealed invoice finance was up by 16 per cent year-on-year at £62.5bn during the final quarter of 2012.
Simon Burslem, Marketing Manager at SiteVisibility, commented: “This research confirms the shift away from traditional bank lending to small business, which has shrunk by a quarter since 2011. With traditional bank lending in its fifth year of decline, these results show that more small businesses are turning to alternative means of funding in order to survive — it is providing life support to the SME market and is vital to give it extra impetus to boost the economic recovery.