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9 Jan 2024

Canal boat record store Rubber Ducky Records is back on the water after it sank last April, ruining over 1,000 vinyl records and a stow of music equipment stored on...

9 Jan 2024

While mass-market players continue to dominate the UK retail industry, research by Geek Retreat shows that 15% of Brits have set up their own business in the past ten years, and of these,...

8 Jan 2024

The British Independent Retailers Association has said 2024 is anticipated to be a challenging period for shop keepers as economic challenges are still set to bite.

2 Jan 2024

Hudjo is the first online marketplace that lets cyclists park with locals, which relieves the anxiety of parking your bike. 

20 Dec 2023

The ActSmart office will be open as usual (9am-5pm) for the majority of the Christmas period, with some exceptions.

19 Dec 2023

Bira's CEO, Andrew Goodacre, took the spotlight on BBC Breakfast this week and later spoke with Nicky Campbell on BBC Radio 5 Live, shedding light on the rise in retail crime and shop theft,...

18 Dec 2023

Dress shop Pocket Watch & Petticoats in Trinity Street has been crowned the winner in Cambridge BID’s Christmas window competition.

18 Dec 2023

In the age of online shopping, the pursuit of the best deals during the festive season is increasingly common. However, as consumers flock to virtual marketplaces, cybercriminals are seizing the...

18 Dec 2023

Fresh evidence about the increasing problem of thefts from shops has been revealed amid a warning that organised shoplifting is now among the most common type of crimes against small firms.

18 Dec 2023

One of the North West’s oldest record shops has reopened after 14 months, creating a small museum to pay tribute to its long-standing musical connections with the city.

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British SMEs face uncertain funding future

Posted on in Business News , Cycles News , Creative News, Outdoor News, Political News

Thirty-five per cent of small businesses express concern over lack of funding options, and most don't know the options available to them.

SMEs in Britain are increasingly concerned about their ability to gain funding in the run up to Brexit, a recent survey reveals.

The study, commissioned by Hiscox, finds recent economic and political uncertainty has adversely affected business confidence, and caused concern for the future as Britain's withdrawal from the EU becomes nearer. This should come as no surprise, as 38% of the 500 businesses surveyed admit to accessing EU funding.

Despite the many funding options available to new businesses, 36% of business owners said a lack of choice was the most common single challenge they faced when looking for funding. 28% of businesses cited a lack of eligibility as the reason holding them back from obtaining finance and a further 25% said market competition was their key challenge.

More worryingly, what emerged from the survey was that one in five businesses was still unaware of the variety of funding options available to them, with most small businesses still turning to banks. Three-quarters of businesses surveyed said they used bank loans for funding over the last five years.

Finding the right solution for your business

To help small businesses find the right funding for them, inFund allow you to view your Credit Health for free.

It takes just a few minutes to create a Credit Health report which shows you more than just your credit score. It is a live representation of where your business is today in respect of creditworthiness and it comes with preapproved Credit Capacity - the maximum amount that could be made available to you as a business loan (from £3,500 to £150,000).

Once you know how much your business could be able to borrow you have the peace of mind knowing that it's there whenever you might need it, and whatever you might need it for...

  • Seasonal cash flow requirement
  • Big VAT quarter
  • Business refurbishment
  • Web development
  • EPOS investment
  • Diversify & expand product ranges
  • New business initiatives!

Set up your FREE infund account today to see what your businesses Credit Health looks like and to see how much you can borrow. Simply click the link below to create your inFund account.

Create an account

 

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