Change factors enter equation

Article Abstract:

The factoring business shows indications of a promising future as the economy starts to emerge from the current recession. The Feb 1993 reports of the Assn of British Factors and Discounters (ABFD) show that turnover for the 4th qtr of 1992 increased by 16% compared with the same period in 1991. The improved condition comes after fraudand bad debts had considerably reduced the profits of most major factoring businesses and had forced smaller ones to withdraw from the competition. On another positive note, the release of Exposure Draft (ED) No 42, ED No 49 and the Financial Reporting Exposure Draft No 4 by the Accounting Standards Board erases doubts on the legality of the factoring business. As more growth companies are realizing the usefulness of factoring in improving their cashflow, factoring firms are starting to engage in other profitable operations. These include invoice discounting and venture capital financing.

Personal credit institutions, Services, Factoring (Finance)

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Another door shuts

Article Abstract:

The two local authority boards in Scotland are currently faced with a bleak future. At the end of 1992, it was decided that the Tayside Enterprise Board will no longer continue its investment activities. Likewise, the Lothian Enterprise Board, attempting to maintain its investment function through solicitation for private funds, is also forced to hold off its operation due to unfavorable financial and economic conditions. The two boards were originally established to make equity investments, and assist in the economic development and employment initiatives in their respective regions. However, local politics undermined potentially profitable investment projects of the two boards. The decision of the regional councils in Tayside and Lothian to stop funding prevents the two regional boards from helping small businesses in the locality.

Economic policy, Regional planning

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To float or not to float?

Article Abstract:

Surveys done separately by Pannell Kerr Forster and KPMG Peat Marwick reveal a low level of interest in flotation among Scottish private companies. The Scottish are so wary of going public that only five Scotland-based firms applied for full listing on the London Stock Exchange during the first six months of 1991. Full listing offers certain advantages, such as enhancement of the company's profile and its ability to raise capital, but the prevalence of big business consolidation has made private-company owners reluctant to sell shares to large institutions. Scottish private companies seeking to raise capital would rather seek the assistance of investment-capital institutions or sell shares through private placement than go public.

Security and commodity exchanges, Analysis, Management, Private companies, Surveys, Corporations, Securities, Securities listing, Going public (Securities), Initial public offerings, London Stock Exchange PLC, KPMG Peat Marwick L.L.P., Corporations, Scottish, Pannell Kerr Forster of Texas P.C.

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