Three quarters of SME owner managers across the UK agree that we’re truly out of recession, according to results of the latest Close Brothers Business Barometer.
The survey, which aims to gauge SME sentiment on a number of financial issues, also revealed that a fifth of respondents stated that trading conditions for their business are worse than they were a year ago.
A further 10% commented that they have been unable to secure additional bank finance in the past six months.
David Thomson, CEO of Close Brothers Invoice Finance said:
“A lot of firms are finding it tough to trade in the current economic climate. Our Business Barometer shows just how tough that environment is; as many as one in ten firms told us they have thought about closing down in the past twelve months.
“Even though securing the right funding is difficult, we learnt that almost half of British firms are still unfamiliar with invoice finance and only 13% said they might consider using it to assist with cash flow.
“We need to raise awareness of viable funding options. There is potential for growth in the current climate, but to fully maximise growth opportunities, companies should carefully consider their financial strategy.
“Invoice finance is an effective way to fund a business that can help firms realise their potential and manage cash flow. We’re working with companies from all sectors nationwide to offer tailored funding packages that facilitate and encourage growth.”
