Leading independent invoice financier Bibby Financial Services has bolstered its International Trade Services offering in the north of England by appointing Paul Sutcliffe as new business development manager.
Reporting to product manager Paul Tappin and based across the companyís offices in Manchester, Bradford and Liverpool, Sutcliffe will utilise his 20 yearsí experience within the invoice finance sector to strengthen Bibbyís growing international trade finance offering in the region.
Prior to his arrival at Bibby Financial Services, Sutcliffe worked for Manchester-based City Invoice Finance and Davenham Trade Finance before joining Cattles Invoice Finance in Bradford in 2007.
Commenting on his appointment, Paul Sutcliffe said: ìThe current international economic climate is tough for many businesses, but if my experience has shown me anything, itís that businesses which put the right funding procedures in place stand a far better chance of surviving adverse trading conditions than those which do not.
ìIt has been well documented that the rise in banksí cost of lending and their less generous credit conditions has curbed many small and medium-sized enterprisesí ambitions for growth on the international stage. But these businesses need to understand that they can access the funds they need to grow, particularly those looking to expand in overseas markets.
ìMaintaining a strong cash flow is key to businessí success, but if this is stalling due to customersí late payments, businesses will require financial assistance. And with banks either deliberating over whether to lend money or simply deciding against backing small and medium-sized businesses, the role of alternative finance providers such as Bibby Financial Services takes on a greater significance.î
Bibby Financial Serviceís International Trade offering releases upfront funding against confirmed orders, enabling overseas suppliers to be paid and can also provide an ongoing source of funding against the value of invoices raised against those orders. Bibby also provides a tailor made invoice collections service, using its in-house multilingual team or its global network of companies. In addition, Bibbyís service smoothes out the problem of fluctuating exchange rates by offering multi-currency facilities as well as foreign exchange rates and forward currency dealings for protection against exchange losses.
Paul Sutcliffe added: ìI am extremely excited by the prospect of working with businesses in the region to understand their plans for growth and providing them with the financial support which will enable them to realise their commercial ambitions.î
Paul Tappin said: ìPaul has a vast amount of experience in the financial services sector and the vital experience he has gained through working with small and medium-sized businesses over the past 20 years will undoubtedly enhance Bibby Financial Servicesí development and plans for growing its international trade offering.î
Sutcliffeís is the second addition to Bibby Financial Servicesí team in the north of England in recent months, following Mark Storeyís appointment as managing director for Yorkshire and the North East.
Bibby Financial Services is a market-leading specialist and currently provides invoice finance facilities for more than 3,000 businesses. It also handles annual client turnover of more than 3.4billion and advances in the region of 300m every year to help small and medium-sized firms grow and realise their potential.
Bibby Financial Services expands international trade services offering in north of England
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