A strategic partnership is to boost funding for SMEs through invoice finance.
International SME funder Bibby Financial Services and Azets – described as the UK’s largest regional accountancy and specialist SME business advisory firm – will together provide whole-turnover invoice finance facilities.
BFS is the UK’s largest independent invoice finance provider, supporting more than 6,000 SME clients in over 300 industry sectors through its solutions, including factoring, invoice discounting, trade and export finance, asset finance and specialist funding for the construction and recruitment sectors.
The agreement sees BFS become Azets’ preferred partner for funding facilities up to £250,000, enabling its network of 3,500 accountancy and advisory specialists to access working capital and cash flow solutions to support their clients.
“We’re delighted to partner with such a forward looking organisation like Azets that shares our ambition to improve outcomes for UK SMEs,” said Derek Ryan, UK managing director for BFS.
“We want to further build on and complement the relationships we have throughout the intermediary and business advisory community.
“Azets’ commitment to delivering excellent service, coupled with its expert network of accountants and business advisors make it a natural and strategic fit for us, and we look forward to boosting support for UK SMEs together.”
Neil Grogan, Head of Strategic Partnerships at Azets, commented: “SMEs are the lifeblood of the economy, and we’re committed to helping them through the provision of the expert advice offered throughout our network.
“As the largest independent invoice finance provider, BFS has both the expertise and scale to enable our accountancy and advisory specialists to better support their clients in 2022 and beyond.”