Businesses in and around Newport have calmed fears regarding reports of an economic slowdown and claim that business is still booming in certain markets.

One of these firms, Newport-headquartered Simply Factoring Brokers, has recently opened a second office in Eastbourne and announced plans for UK-wide expansion and argue the market is still buoyant for many businesses.

Steve Adams, director at Simply Factoring Brokers, said: “The last 12 months has been our best year. However, I know that isn’t the case for all businesses; enough small businesses will tell you that it’s still tough out there. I do think the economy is a contributing factor to our success, but not the main one.”

Steve said: “The main reason for our growth is the structure we set out at the start. If you have a job here you are rewarded very well if you work hard and hit targets. We reward our staff with bonuses and a solid commission structure which rewards hard workers; if they do well so does the company.”

He said: “The only barrier to growth really is having the funds to be able to expand quick enough. I could get a business loan or an investor on board to speed up the process, but I want to build a business and create good growth naturally from reinvesting existing profits and building a solid business.”

Simply Factoring Brokers, which is based at The Estates Office, Goldtops, Newport, is a team of experienced, independent brokers.