UK SMEs 'exploring new sources of finance', research finds

18 Apr 2019

Research carried out by American Express has found that, as access to finance becomes 'increasingly difficult to secure', UK small and medium-sized enterprises (SMEs) are 'exploring new sources of finance' instead.

According to the research, almost one third of UK SMEs find it 'difficult' to access finance. As a result, many are shunning traditional finance options, such as bank loans, and are turning to non-traditional forms of finance.

The research also suggested that SMEs prioritise ease of access and flexibility when it comes to choosing finance.

Paul Abbott, Chief Commercial Officer at American Express, said: 'UK SMEs are confident they can continue to prosper, despite political and regulatory change, economic uncertainty and data security concerns, and they are prioritising several initiatives to insulate themselves from external pressures and accelerate their growth.

'SMEs are the lifeblood of the UK economy – and it is vital that they have access to the finance they need to survive and thrive.

'By exploring more flexible forms of finance that will allow them to remain nimble in the face of uncertainty, SMEs will stand the best chance of weathering the current climate.'

Environmental Policy | Privacy Notice | Accessibility | Disclaimer | Help | Site map | © 2019 Davis Bonley Limited. All rights reserved.

Davis Bonley, Northside House, Mount Pleasant, Barnet, Hertfordshire EN4 9EE , Davis Bonley is a trading name of Davis Bonley Limited, Northside House, Mount Pleasant, Barnet, Herts EN4 9EE. Company registration number 08989322. Regulated as auditors and regulated for a range of investment business activities by the Association of Chartered Certified Accountants. Awarded approved employer status for Association of Chartered Certified Accountants trainee and practising certificate development.

We use cookies on this website, you can find more information about cookies here.

Payroll Services Barnet