Half of SMEs struggle to access finance
Posted on in Business News , Cycles News
Almost half of UK SMEs have experienced barriers in accessing finance, a new report has found.
When surveyed, nearly half of 1000 UK SMEs said they had experienced barriers when they looked for finance, while just 19% said their bank met their needs.
According to a new report by Close Brothers:
- Nearly half of UK SMEs have experienced barriers when looking for finance
- Just 19% say their bank met their needs
- One in four SMEs has been turned down for funding when they looked to grow
Despite this, almost three-quarters said they still perceived a bank loan as a suitable way for them to get finance, perhaps because historically SMEs have only had banks to turn to for finance.
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In just a few simple steps you can take advantage of inFund's free tools and see how much credit could be available to your business. Simply click the link below to create your inFund account.
