As many as half of businesses admit it’s difficult to obtain finance from their bank and many companies continue to depend on an overdraft, loan or credit card for support.
The findings from the latest Close Brothers Business Barometer* suggest there is a potential ‘domino effect’ for businesses that struggle to find the right financial support. Figures show that because of the still somewhat constrained lending climate, a large proportion of organisations are unable to invest in staff and equipment and a quarter of those surveyed have even gone so far as to say that they will not be investing in their business at all this year.
The infographic below shows how important it is for SMEs to consider a range of finance options, including alternative funding solutions, to ensure they have the most appropriate finance for their business needs at any given time.
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