57% of asset finance brokers aiming to expand into new sectors

Some 57% of asset finance brokers are hoping to expand into new sectors, according to the latest research.

The survey conducted by Investec Asset Finance Group revealed that 23% of respondents expected business volumes to increase by more than 15% over the next year, while 40% predicted volumes would increase by 5-15%.

In addition, only 6% of brokers expected business volumes to decrease over the next year.

When asked how they would achieve their growth targets, 57% said that they would expand into new sectors while 37% expected to shift towards different products, including specialist loans such as VAT finance or those with more complex structures.

“It is a good time to be in asset finance – and despite some obstacles ahead, it’s reassuring to see that brokers remain confident that they have what it takes to grow despite an uncertain economy,” said Stuart Hughes, head of IAF broker sales at Investec.

“We remain committed to helping brokers grow in a sustainable way, and although brokers are aware of the challenges that the future holds, there are clearly opportunities for good brokers to flourish over the year ahead.”

Sign up to our newsletter to receive more news like this story

I accept that by joining the B&C mailing list, I will receive relevant news and promotional material via B&C on behalf of its partners and advertisers. Your data will not be passed on to any third party.
No, thanks, just the news please.

Leave a comment