Some 14% of asset finance brokers had increased their business volumes over the last 12 months.
Asset finance brokers are poised for another year of growth in 2020, Investec Asset Finance Group has found.
Despite a year of political uncertainty fuelled by changing Brexit deadlines and General Elections, 41% of brokers said they had increased their business volumes over the past 12 months compared to 34% in 2018.
Some 14% remained confident that business volumes would increase by more than 15% and a further 36% expected business volumes to grow by between 5% and 15% over the next year.
Stuart Hughes, head of broker sales at Investec Asset Finance, said: “The asset finance sector has shown its resilience in 2019, despite difficult market conditions including uncertainty about the UK’s exit from the EU.
“What’s also clear is the extent to which asset finance has established itself across the UK economy, in sectors like renewable energy as well as more traditional areas like construction.
“Brokers are in an optimistic mood as we look ahead to 2020, which will only be enhanced now that we have political clarity at last.”
Only 11% of brokers believed that business volumes would fall over the next 12 months.
An increased focus on marketing, growth and new hires was frequently cited as the primary reason brokers felt confident that business volumes would increase.
Both client relationships and a potential Brexit resolution in 2020 also ranked highly.
Market conditions were identified as the biggest challenge looking ahead, with 77% of brokers citing it as a problem in the future.
