The team at Ignition is continuing to expand with the recent appointment of Rob Mansell as Associate. Based in Worthing on the South coast, Rob will be championing new business in the South East of England, particularly in the home counties of Hampshire, Kent, West and East Sussex and Surrey.

Rob joins the team with a strong background in vendor & dealer finance. He’ll be focusing on developing regional supplier relationships including hospitality, technology & software and commercial vehicles, but also pushing into emerging markets within the renewables sector.

Rob comments: “Business is strong in the South East across a number of sectors, and with the emergence of new markets, there are plenty of opportunities to help companies grow and expand. There is also significant opportunity for offering refinancing deals for existing assets. Many companies are unaware that this option is available to them, and its often a very useful means of freeing up capital.”

Director Paul Caunter comments: “We’re very pleased to have Rob on board. He brings with him more than 20 years’ experience, and is helping us to strengthen our reach across the South and East of England.”

New figures released this month by the Finance & Leasing Association (FLA) show that asset finance new business grew by 3% in January compared with the same month last year – the twenty-eighth consecutive month of growth.

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:

“Asset finance continues to be an important source of finance for SMEs with the latest BDRC SME Finance Monitor showing a success rate of 94% for SMEs who applied for asset finance in 2015. More than £16 billion of asset finance new business went to support SME investment in machinery and equipment last year.”

Truro-based Ignition, a leading provider of vehicle and asset finance for SMEs in the South West, is welcoming a new Plymouth-based Business Development Manager, Rob Guy, to help strengthen its reach across the South West.

Ignition offers finance for a wide range of assets from plant and machinery to vehicles and business equipment, either using its own funds or via joint trading relationships with a panel of major finance houses. The company has grown substantially since its acquisition by STAR Capital Partners last year.

An active member of the Devon business community and champion of SME’s and start-ups, Rob Guy has over 30 years’ experience in the finance sector, most recently as Area Sales Manager for Close Brothers Asset Finance. He is also a Director at the Devon Chamber of Commerce where he jointly holds the Events and Training Portfolio, and sits on the Advisory Board of Devon & Cornwall Business Council.

In his new role, Rob will be supporting businesses across Devon, Somerset, Dorset and Bristol, principally focussing on those sectors that are likely to experience growth in the years ahead. He comments:

“The business climate in this region is looking bright, particularly for the construction sector with the creation of the new Devonshire towns Sherford and Cranbrook, and for the hospitality, catering and tourism sectors which are continually expanding in response to demand from holiday-makers. The transport, agriculture and marine sectors are also key for this area, as is the burgeoning manufacturing sector – perhaps Devon’s best kept secret!”

“I’m looking forward to helping these businesses grow and invest by offering them independent and impartial deals, which won’t use up vital credit lines. I’ll also be working with dealers, bank managers, accountants and solicitors in the area, helping them to provide their clients with the very best finance options,” Rob Guy continues.

Ignition’s Director, Paul Caunter, comments:

“Rob has a wealth of experience in the finance sector and is highly regarded in the Devon business community and beyond. We are delighted that he has joined our team, and shares our vision to help SMEs in the region thrive.””

For further information on Ignition visit www.ignitioncredit.co.uk or call 01872 272900.

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!”

The construction industry is celebrating a particularly happy new year, following news in the Autumn statement that the government will be investing heavily in housing and infrastructure. George Osborne’s plans include introducing the largest affordable house-building programme in more than 30 years, and doubling the housing budget to £2bn a year. Capital spending at the Department for Transport is set to increase by 50% to £61 billion, and will see construction begin on significant infrastructure projects such as HS2, Transport for the North and the scheme to electrify the railways.

Opti-cal Survey Equipment Ltd provides land survey and precision measurement technologies, which are widely used by the construction industry at the initial stages of projects and developments. As a result, sales and demand for equipment at Opti-cal often provide a strong indication of the health of the market in the months to follow. According to Jim Warner, Director at Opti-cal, 2016 is set to be a bumper year for the sector:

“We noticed business really picking up towards the end of 2014, and have continued to see an increase in sales since then. Last year was extremely busy, but this year already looks to be even stronger. Many construction companies are already fully booked up with projects until well into 2017.

“The sheer number of major infrastructure projects underway at the moment, such as Crossrail and the Thames Tideway, are keeping the largest organisations busy, leaving plenty of medium-sized contracts for the smaller organisations to pick up.   The positive knock-on effect is being felt throughout the entire sector.”

Jim is finding that the number of Opti-cal customers choosing to finance through Ignition is increasing too:

“We offer a great three year deal in partnership with Ignition which includes warranty, servicing, support and training. It’s proving particularly popular with our customers as the rate is very competitive, and it provides reassurance that the equipment will continue to benefit their business in the long-term.”