With the Treasury Select Committee investigating finance for SMEs, ICAEW Head of Corporate Finance David Petrie says business owners need the right advice when it comes to finance.
According to Mr Petrie, MPs are “fighting the last war”, which is access to finance, however he feels this isn’t the problem it once was in the aftermath of the financial crisis, some 10 years ago. Instead, SMEs need access to better advice on where to turn in a more complex financing market.
Where the more serious problems in raising funding still and perhaps will always exist, Mr Petrie argues, are for businesses lacking sufficient security, or where the technology and/or the market is not yet proven. According to Mr Petrie, these companies require equity finance and a combination of relatively benign market conditions.
“While there will always be companies who believe they are deserving of additional funding, often what’s required is the right advice, not more cash. Some of these calls for more investment and intervention are now rather overdone.”
For more information about the range of finance options available to you and the best approach for your SME business in sourcing and restructuring debt finance, speak to Simon Belton at our partner business, BM Structured Finance. We work with you to match the most suitable products suited to your individual circumstance and ensure compatibility and satisfaction, thereby enhancing the business’ cash flow liquidity and facilitating maximum growth. Alternatively, please contact your usual Beavis Morgan Partner.