Small Businesses


The latest research suggests that owners of small and medium-sized enterprises (SMEs) are worried about landing growth financing, as well as late invoice payments.

This research was carried out by MBH Corporation, and the results show that 40% of those who own SMEs are anticipating greater problems when trying to get financing in the future, with only 10% of those surveyed expecting this process to be simpler in the months ahead. One third of those that MBH spoke to are envisioning no real change in the attitudes of lenders, and that this will present them with financing problems.

According to City A.M., MBH Corporation CEO Callum Laing stated that securing the financing they need to be able to grow their businesses is an ongoing problem for smaller firms in particular, and this can prevent them seeing through plans for expansion.

The situation is being exacerbated by late invoice payments from customers, with over one third of SME owners indicating that delays in payments have increased during the past year. This is precisely the sort of issue that many turn to accountants from Goole or elsewhere to deal with.

The MBH study revealed that 40% of UK SMEs aim to try to secure growth funding during the upcoming two years, and that of those that have applied in the past year, only 17% had their applications turned down.

Laing went on to say that this at least shows that UK SMEs are remaining positive about their prospects and that they have reason to feel that funding for growth is achievable.

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