Paul Caunter, Director at Ignition, talks about industry predictions for the coming year:
“2015 was certainly a busy year here at Ignition, and apparently throughout the entire asset finance industry. The latest figures from the Finance & Leasing Association (FLA) show that the asset finance industry financed 32.4% of all UK investment in machinery, equipment and purchased software in the year to September 2015 – its highest level for more than six years.
According to the FLA’s Q4 2015 Asset Finance Confidence Survey, this increase in business is set to continue throughout 2016, with the industry predicting that new business will grow by up to 10%. No doubt, these expectations will have been influenced by evidence of our strengthening economy. Figures released in November from the Office for Budget Responsibility predict that GDP will grow by 2.4% in 2016. This can only mean good news for UK businesses wanting to invest and expand over the coming year, and suggests that we’re likely to have another busy year ahead at Ignition. Thankfully, we’re ready for the challenge!”