That was the tweet from a friend and fellow factoring broker that alerted me to the fact that silly season was well and truly upon us in the form of the Business Moneyfacts awards following hard on the heels of yesterday’s offering.
The category that interested me most was the “Asset Based Finance Broker of the Year” award, as if one thinks about it logically who would vote in that category.
1) No factoring broker would vote for a competitor.
2) The companies that passed through the broker’s hands wouldn’t normally vote as they wouldn’t be likely subscribers to Business Moneyfacts.
3) The factoring companies would have a rough idea of who should perhaps be a suitable “Asset Based Finance Broker of the Year” but there is probably only a dozen factoring companies who would bother to vote anyway.
Who does that leave to vote – well I’m sure you can work that one out ?
I’m equally sure that it’s completely co-incidental that two of the three listed asset finance brokers are associated with insolvency practitioners who are themselves “finalists” in the insolvency section. 🙂
The industry insiders are well aware of what a farce these awards ceremonies are but the problem is that the winners then stick a logo on their websites and other marketing material stating that they are “Winners of ABC Awards 2013” which will give them implied credibility in the eyes of the general public which in many cases is not warranted.
As an experiment I think that I will register Lovely Jubbly Invoice Finance and ask all of my contacts to vote for it next year