Expansion strategy builds footprint for Close at home and away

The start of the year has already been very active for Close with exciting news of our plans to enter the Southern Irish market and the launch of our new commercial business centre in the Midlands.

Buoyed by the success of our Northern Ireland operation - which is already six months ahead of its new business target since the launch of the Belfast office in April 2007 - we are convinced that there's a place for our independent, service-driven invoice finance offering south of the border, too.

The move into Southern Ireland is now in the first stage of its dynamic development with the appointment of local invoice finance expert Cathal Ryan as MD. Cathal, who had been with Ulster Bank for the past 20 years, will work closely with the highly successful Belfast team - headed up by Harry Parkinson - with the plan being to grow the business in the Greater Dublin area initially.

David Thomson, Chief Executive of Close Invoice Finance says: "Given the current global credit crunch, SMEs throughout the UK and Ireland are collectively tightening their belts. At a time when levels of uncertainty about funding and capital expenditure are growing, securing a reliable source of cash flow is a must."

He continues: "We are already seeing this happen in the UK and Northern Ireland and, having taken a good look at the Irish market, we're convinced that there's an opportunity to deliver a bespoke service to customers who only really have their bank to turn to when things get tough. Whether they're based in Dublin or Doncaster, Invoice Finance is a smart solution for SMEs who need certainty, need to plan and need a reliable and regular amount of working capital."

In March we also expanded our footprint with the launch of a new regional commercial centre in Birmingham. Close has been active in the local market for 25 years and Midlands' business accounts for 15% of Close Invoice's current client base. We've taken the strategic decision to open an office in the heart of the Midlands' business community to best serve existing clients and capitalise on new business opportunities available in the region.

The new office suite will be located at Vienna House in the Birmingham International business complex just five minutes walk from Birmingham International Station and Airport. A highly experienced local team headed up by Simon Carter - who has worked for Close for the past 18 years - will serve Birmingham and the wider Midlands region including Wolverhampton, Coventry, Walsall, Dudley, Worcester and Leicester from the new base.

"Smart businesses are now viewing invoice finance as a strategic enabler not just a commercial crutch for their business," reveals Thomson. "They are also realising that adequate cash flow is an essential element for the survival and growth of any business. The opening of our new office in Birmingham demonstrates our commitment to growing businesses in this important region and means our local customers can be sure to have access to great services - such as IDeal, our enhanced, online invoice discounting solution - right on their doorstep."

If you'd like to find out more about IDeal or Close's portfolio of invoice discounting and factoring services please visit www.closeinvoice.co.uk or call 0800 220 257 to discuss your requirements.