- 06 Aug
Research Suggests Need For External Business Finance Among Growing Businesses
Interesting to read the London School of Business and Finance, quoting research by Wesleyan Bank, that apparently showed some confident growth prospects, and and appetite for external business finance amongst UK businesses.
London School Of Business & Finance Reports Growth In Demand For Finance
The research across 500 business owners of SMEs showed that over 50% now have more confidence in the growth prospects for their company than they did last year. In addition, 50% believe that Brexit will have no effect (let's hope that's the case!).
The survey reports that 59% of SMEs have used external finance, at least once over the last year. This is a marked increase, from the 30% recorded in their 2016 survey.
The appetite for business finance reflects what we are seeing, as more customers have enquired recently and it bodes well for the future of the UK economy if confidence is growing. I posted recently about the recent base rate increase, and the UK growth predictions that sat behind this decision. My hope is that the growth does continue to accelerate and is not knocked by the rise in interest rates.
South West Index Supports Findings
Business Leader magazine recently wrote about the latest NatWest South West PMI data indicating growth across the regions private sector businesses at the end of Q2 2018. It reported that business activity has expanded at a stronger pace, supported by a solid rise in new orders. More good news supporting the LSBF findings and the prospects for the UK economy in 2018.
External Business Finance
We remain well placed to support the anticipated external business finance needs of these growing companies. We have enjoyed a 97% success rate in finding business funding for companies, and we recently reported that we have achieved 34% average cost savings for our invoice finance customers.
Please contact Sean on 03330 113622 for help with your business finance requirements.