More than half of SMEs expect to increase income or turnover in 2018-19, according to British Business Bank.
Polling commissioned by British Business Bank, the UK government-owned economic development bank, has revealed one in three (33%) smaller business owners want to grow their businesses but are unsure on how best to achieve that growth.
Often, smaller businesses want to grow but just don’t consider, or know of, the alternative finance options available to them. Business confidence is high amongst those surveyed, with more than half (51%) of business owners surveyed saying they expect to increase their income/turnover in the next financial year, with fewer than one in ten (8%) expecting their income/turnover to decrease.
Keith Morgan, CEO of British Business Bank said: “The financial landscape can be complex and confusing for smaller businesses trying to finance their growth ambitions. Today’s polling shows that too often smaller businesses want to grow but don’t know where to start meaning they miss out on growth opportunities.”
If you’d like to find out more about alternative business finance facilities, we’d love to be able to help. Why not give Regency a ring today on 0161 280 4010, drop us an email at lynnew@regencyfactors.com or browse our website for more details on how our facilities work.