First Capital Factors has been set up by David Marsden, who also founded successful invoice financing business RDM Factors.

Working alongside him is managing director Martin Austin, a former RDM Factors colleague who has spent the past six years at insolvency practitioner RSM Tenon.

Austin said that print lent itself to invoice financing and he was keen to look at any factorable business.

He said: "We own our own business, so when we come and see somebody it is owner manager talking to owner manager; we understand them. There is no credit committee to go back to.

"We will come out and see the business; if we like what we see, we can shake hands there and then.

"Often with a committee everybody is trying to justify their place, so they make tweaks and by the time the factoring is confirmed it isn’t quite the deal that was put on the table. We are in a bit more of a dynamic, flexible situation."