Introducer - factoring and invoice discounting.
Jim_ started this topic @ 11:35 on 07/11/2008
Hi,
I'm thinking of setting up an introducer / lead generation business. The primary focus will be offline (I still think this is most effective way of generating new business) It would intitially consist of myself, and potentially a partner. I would be hoping to expand to a small team within a few months if things go well.
My first instinct was to focus on the consumer credit market, however as I understand it this would require a CCL even for introducer work, and these are difficult to aquire without prior experience of the credit market.
I have decided to concentrate my research on the factoring / invoice discount sector as I believe this will be a growth area in the years to come. I would be interested in talking to people who are already involved in this field, factoring companies themselves, and perhaps even someone who would be interested in a potential partnership. All advice, information or just general chat about this matter is very welcome.
A bit about myself. For the last eight years I have been sucessfully involved in property development and rentals, and have been fortunate to build up a modest portfolio which allows me to live without recourse to other funds. Prior to entering the property market I was involved in sales, sales training, business development etc for a number of years.
If anyone has any advice or would like to mull things over, please feel free to get in touch.
Thanks for reading
Jim
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RE: Introducer - factoring and invoice discounting.
Paulmeade | 10/11/2008 04:01 PM
Jim
You will need a panel of funders. In this current market companies are cutting brokers from there broker panel rather than taking on new brokers. This is one issue you will have to overcome.
Paul Meade
http://www.yellownote.co.uk
RE: Introducer - factoring and invoice discounting.
Ian J | 11/11/2008 08:52 AM
<<<<<<<>>>>>>>
That is not my experience as I've found that most factoring companies will happily accept business from anyone which personally I view as disappointing as there are too many people entering the broking market who are unqualified to advise on factoring or invoice discounting.
As Jim has indicated he has no experience of factoring or which factoring companies perform or don't perform yet will be guiding small business ownners towards a financial destiny that may be totally unsuitable for them.
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Ian
Factoring , Invoice Discounting , Trade Finance and Asset Finance specialist broker.
Founder member of Independent Factoring Brokers Association
RE: Introducer - factoring and invoice discounting.
lauriet | 12/11/2008 03:14 PM
We have a new product in this sector of the market that is due to be launched in the next couple of weeks and we will be looking for affilliates, if this is of interest to you. Potentially a very lucrative market
Laurie
Swift Money MD