Majority of SMEs seeking new funding

According to a report from Independent Growth Finance, 71% of SMEs are seeking new funding in 2019. Furthermore, 53% claimed that they had to wait a month or longer for traditional funding. Over a quarter of business leaders (27%) expect revenues to rise by more than 10% this year, the research found. Independent Growth Finance CEO John Onslow said: “Such a large number of businesses seeking more than £1.1m in funding shows that businesses want to seize control of their financial futures. Yet our findings suggest many struggle to find quick and flexible funding.” The report also revealed that traditional bank funding remained the top source (67%), while more than a quarter of businesses (27%) said they now used invoice financing and over one in five (22%) opted for asset-based lending.

Click here for the full article

Click here for related news