The Office for National Statistics (ONS) recently released their estimation of the rate of economic growth during Quarter Three (July, August and September) 2015. As has been the case for the last eighteen months a continued increase in business investment was a major factor to the economy growing by 0.5% more than the same period in 2014. As at the end of September GDP is estimated to be 2.3% higher than at the same time last year, albeit that the rate of growth appears to be slowing from that achieved earlier in the year.
IT resellers need to focus particularly on the service sector which remains the main engine of growth in the UK economy. Service industries grew by 0.7% in Q3 continuing a trend of increasing growth during every quarter of this year, whereas manufacturing actually fell by 0.3%.
Whilst overall, the economy is performing reasonably strongly, interestingly there has been disproportionally strong growth in the amount of leasing reported by members of The Finance and Leasing Association (FLA).
In the twelve months ended September 2015, FLA members financed over £4bn worth of IT and business equipment investment, a 21% increase on the previous twelve months and well in excess of the still impressive 10% growth FLA members reported from each of their other main markets (cars, commercial vehicles, plant and machinery).
Finance is now more freely available than at any time since the banking crisis of 2009/2010 and the above statistics show that increasingly businesses are using leasing to fund a full range of capital expenditure and this is particularly the case with investment in IT.
Andy is an experienced sales and finance professional with over 25 years’ experience in sales aid leasing. Andy is widely recognised as an expert in business finance and has in recent years focused his attention on developing partner sales teams develop an understanding of how businesses secure project financing. His training programme – Finance Unlocked – is a highly rated customisable course and is offered at no cost to partners.
If you’re interested in helping your sales team overcome finance-related hurdles during the selling cycle, please get in touch with Andy on
07966 114 243 or email here.