This is a summary of the reasons non-users of invoice finance (84% of 100 high growth companies) gave for not considering invoice finance as a funding option for their high growth business (20%+ growth pa – note these values are rounded hence the total):
- 27% invoice finance not mentioned as an option
- 24% never heard of invoice finance
- 12% thought it would be too expensive
- 11% wasn't a homeowner
- 11% poor or bad credit history
- 7% too small
- 5% didn't think I would qualify
- 4% thought it was the last resort for failing companies
More than half of these responses point to a lack of awareness of invoice finance as the key issue.