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Working capital

Find out more about the benefits and risks of using your assets to finance your business. Options available include hire purchase, leasing, invoice factoring and discounting, and commercial mortgages.

What's on this page?

  • Online articles
  • Useful links
  • Articles and books from the Library

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Featured guide

The Business Finance Guide

A joint ICAEW Corporate Finance Faculty and British Business Bank guide setting out finance options for businesses, to help them start, grow and prosper. It includes sections on debt finance and asset-based finance, with explanations of invoice finance, factoring and asset-based lending (ABL).

Featured article

Sustaining the focus
Financial Director, Sep 2014
The UK's largest listed companies are starting to see the fruits of an increased focus on working capital, as costs and debt start to decrease and cash on hand and free cash flow increase. 

Online articles

The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Technology leads the way

Daniel Proctor explains how advancing technology is changing the lease and hire purchase landscape.

Cheque mate

Banks have been courting back British manufacturers through improved asset finance deals, allowing executives to borrow purely against machinery and other business assets rather than personal assets.

Coming of age

From the stigmas of the past to the technology of the future - Mike Boswell of Lloyds Bank Commercial Finance ponders what's next for invoice finance.

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Useful links

ICAEW resources

Accounting for asset finance
We have a separate page on accounting for leasing and asset finance.

ICAEW Business Finance Guide
Includes sections on Debt finance and Asset-based finance, with explanations of invoice finance, factoring and asset-based lending (ABL).

Guides and publications

What is asset finance?
Guide from Startups.co.uk covering the asset financing options available for small businesses, the costs involved, and the variables lenders consider.

Industry bodies

Asset Based Finance Association (ABFA)
Represents the UK and Irish asset based lending, factoring and invoice discounting industries. 

Surveys

2018/19 annual global working capital survey
PWC's latest survey analysed the working capital performance of large global listed companies over a five year period, investigating how it varies by industry and geography.

Working capital performance of top European companies
The Hackett Group 2018 survey comparing the working capital management of Europe's top 1000 non-financial companies, ranking the best and worst performers by industry sector. Requires free registration to download.

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Articles and books in the Library collection

Selected book

Working capital management: applications and cases
(Wiley, 2014)
Explains how to use the current assets and liabilities of a company effectively. Topics include managing the working capital cycle and credit and short-term financial instruments. Written from a U.S. perspective.  

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You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

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