Many of you will know that the Association used to undertake an annual member survey to assess the volume of business which was originated through both our Members and Patrons.
We didn’t continue with this in 2017 because we wanted to be sure that the data that we were collecting, and sharing was statistically robust. Over the last six months we have shared with you my plans to re-energise this process by surveying Patron lending activity rather than asking our broker Members. I have been heartened by the comprehensive support I have received from Patrons wishing to contribute to a replacement process, so I am now pleased to be launching the first survey adopting this revised approach.
The NACFB holds a privileged position, in that from our vantage point we see our broker Members engage with you, our Patrons, partnering the most dynamic, innovative and valued lenders and individuals operating in the UK commercial finance space. Such a position enables us to accurately capture the most comprehensive snapshot of UK lending activity, invaluable data that will inform your strategic planning.
Allow me to start by establishing our approach:
- I have engaged PwC to help with this exercise. They will be acting independently and understand that all contributions must remain anonymous. The Association will never see any individual returns. They will be sent direct to PwC and we will only ever see the aggregated output.
- To further preserve anonymity, I have also recommended that publication of the data can only proceed if a sufficient volume of Patrons complete the survey to allow reliable and comprehensive analysis.
- I am also proposing that all contributors will receive a high-level summary of the findings before we publish the survey results. This would be on the condition that the Association are allowed time to issue their own press release on the survey outcome.
- This survey will cover activity for the first half of 2018. If it is a success, the plan will be to run this at least on an annual basis so that we can capture a full calendar year.
- PwC will deliver a data dashboard to be held under licence by the Association and subject to the conditions of anonymity, we will be able to interrogate the data on behalf of any Patron wanting to see the results through a requested lens e.g. products by region or loan type.
I hope that you agree that this approach is a fair and balanced way to proceed. Here is the process that you need to follow:
- Click to download the NACFB Lender Survey 2018 template, upon completion return to PwC via: firstname.lastname@example.org
- We have allowed four weeks for you to undertake the data collection process so please work on providing the return by Friday 21st September.
- The template is self-explanatory with many drop down boxes. If some of the descriptions do not fit with your data capture, all we ask is that you employ best endeavours to complete the return. In the unlikely event that you require some assistance with the return you can call Anne-Marie Brennan on 07802 658980 or Adeel Ahmad on 07946 652795.
- Assuming we receive the required number of returns within the timescale, it is anticipated that the output will be available for sharing in the week commencing 24th September.
I strongly encourage all NACFB Patrons to contribute because this will provide all of us with a great opportunity to demonstrate the real value that our community is contributing to funding SME business in the UK.
This project will only be as successful as the data we obtain, so I ask you to partner with us on this journey to ensure that when we champion our sector at the highest levels we do so with as clear and as accurate a picture as possible.
We look forward to working with you and sharing such vital data upon completion.