A recent poll by insurer Zurich of 1,000 small and medium sized businesses (SMEs) shows the average business that plans to borrow this year is expecting to draw out £41,770, an increase of 22 per cent on a year ago.
Nearly the same number of companies hope to borrow money this year, with 36 per cent expecting to take on debt, against 35 per cent who borrowed during 2016.
Researchers say that if this appetite for lending materialises, SMEs across Britain would borrow £50 billion this year.
Anne Griffiths of Zurich comments: “The business landscape appears rife with uncertainty, but SMEs have long been the building blocks of this economy and as long as they are building themselves sensibly, sustainably, with contingencies in place, then the UK can be confident in the health of its economy.”
Alternative finance providing SMEs with funding needed for business growth and success
With demand for alternative finance set to increase in 2017 as SMEs look beyond the banks to raise finance, what is essential is that businesses choose a specialist adviser who can recommend the right financial products suited to their specific business needs.
Our partner business, BM Structured Finance, specialises in sourcing and restructuring debt finance for SME businesses. We match the most suitable products to each individual circumstance and work together to ensure compatibility and satisfaction, thereby enhancing your business’ cash flow liquidity and facilitating maximum growth.
Whether you’re a start up or a well-established business, cash is king and managing its flow is crucial to your long-term success.
For more information about how BM Structured Finance can help you and your business, contact Simon Belton or your usual Beavis Morgan Partner.