Recent research by small business finance provider Liberis found that nearly 30% of SME’s require funding to stay afloat. Across a broad range of criteria made available for business owners, ‘keeping afloat’ scored amongst the top five reasons for finance requests; with ‘purchasing new equipment’, ‘keeping up to date’, and ‘other operating costs’ also scoring highly.
Liberis’ research also found there is a perceived reluctance among UK banks to invest in risk and innovation, indicating a demand for alternative financing options.
With 62% of UK small businesses viewing funding as a mechanism to grow, it is worrying that 55% are unable to access this required funding. Concerned for the growing pressure and expectations on banks and other mainstream finance providers, alternative financing providers, can provide a simple, flexible and transparent funding system to help UK SMEs achieve their growth ambitions.
Commenting on the report, Rob Straathof, CEO at Liberis, said: “In an increasingly uncertain economic climate, there is a greater need to protect our small businesses and provide them with much needed working capital.”
If you’d like to find out more about our 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.