Empowering Businesses with Cutting-Edge Financial Solutions
As the global economy grapples with challenges ranging from inflationary pressures to shifting consumer demands, Skipton Business Finance has demonstrated an unwavering commitment to fostering business success. In 2024 alone, the organization achieved remarkable milestones that underscore its pivotal role in driving economic progress across the United Kingdom.
Unprecedented Growth Metrics Highlight Commitment to Excellence
The figures speak volumes about SBF's achievements over the past fiscal period. Pre-tax profit surged by 13%, reaching an impressive £10.8 million ($13.9 million). This accomplishment was complemented by a robust 19% increase in collective turnover among client businesses, climbing from £2.1 billion to £2.5 billion. Such outcomes reflect not only the company’s strategic acumen but also its ability to adapt swiftly to evolving market conditions.
This growth trajectory is further bolstered by significant increases in funds in use (FIU), which expanded by 11% to reach £190.1 million. Moreover, peak FIU climbed by 12%, rising from £184.5 million in 2023 to £207.3 million in 2024. These statistics highlight SBF's capacity to meet—and exceed—the financial needs of its diverse clientele while maintaining operational efficiency.
A Client-Centric Approach Focused on Innovation and Collaboration
At the heart of SBF's success lies its dedication to understanding and addressing the unique requirements of each business it serves. According to CEO Greg Bell, 2024 represented a transformative year for the organization, reinforcing its status as a premier provider of flexible and accessible funding options. By prioritizing innovation and strengthening partnerships with intermediaries, SBF ensures that clients receive tailored support designed to facilitate long-term prosperity.
Beyond mere financial assistance, SBF places emphasis on cultivating meaningful relationships with its partners. Through ongoing dialogue and collaboration, the company identifies opportunities for mutual growth and develops strategies to overcome potential obstacles. This proactive stance enables businesses to capitalize on emerging trends and seize competitive advantages within their respective industries.
Promoting Financial Literacy and Community Engagement
Skipton Business Finance extends its influence beyond the realm of corporate finance by actively contributing to societal betterment. Demonstrating a 10% rise in charitable contributions, the company directed substantial resources toward initiatives aimed at enhancing financial literacy throughout the UK. Among these efforts, WizeUp Financial Education stands out as a primary beneficiary, receiving vital funding to advance its mission.
Additionally, SBF leverages its Community Matters grant-making program to support more than 30 distinct projects dedicated to improving lives and communities. By integrating social responsibility into its core operations, the organization exemplifies how corporate entities can create positive change while achieving commercial success.
Case Study: Enabling Expansion for Invision Recruitment
An illustrative example of SBF's impact can be seen in its recent collaboration with Invision Recruitment, headquartered in Bishop’s Stortford. To address cash flow constraints caused by extended invoice payment terms from larger clients, SBF provided a £350,000 invoice discounting facility. This critical injection of liquidity empowers Invision to pursue ambitious expansion goals within the construction and civil engineering sectors.
Currently placing 30% of candidates in permanent roles and 70% in temporary positions, Invision aims to achieve a balanced 50/50 split by 2025. Without SBF's intervention, such aspirations might have remained unattainable due to persistent financial hurdles. Thus, this partnership exemplifies the transformative power of targeted funding solutions in unlocking business potential.