80% of small business owners taking part in the Flexspace Business Sentiment Survey expected moderate to substantial growth in their business during 2018, while 78% expect their confidence in the UK economy to increase or remain the same in 2018.
43% of businesses also had plans to recruit additional staff in 2018, and one third of those expected to recruit more than 4 staff.
If you'd like to speak about financing growth, or ensuring that working capital in the business can support growth, contact us now.
SMEs are shying away from traditional bank lending, instead preferring to use alternative finance providers including asset financiers, peer-to-peer lending, and equity crowdfunding.
The British Business Bank determined that only 1.7% of SMEs are seeking loans from their bank, the lowest since records began in 2011. By contrast, peer-to-peer lending increased by 50% in 2017.
Gavin Madison of Ward Hathaway has highlighted the importance of funding for businesses, and warned that it may be less readily available after Brexit.
He explained “Companies looking to expand, whether they want to access new markets, increase production capacity or acquire competitors, invariably need to look for external finance to help them realise their ambitions."
Liquidity Club can help businesses source appropriate finance from both mainstream banks and alternative lenders. We can work at speed and work around complex issues if required.
Read more at: https://www.yorkshirepost.co.uk/business/access-to-funding-remains-critical-hurdle-for-many-firms-warns-ward-hadaway-1-9002275
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