Credit, Collections & Insolvency News
The percentage of small businesses that rely on finance or funding to invest in business growth has reached an eight-year high, and those most in need of it are the enterprises predicting significant expansion for the months ahead, according to new research by Novuna Business Finance. The nationwide poll of 1,242 small business owners revealed…
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Research by the National Association of Commercial Finance Brokers (NACFB) has found that brokers facilitate nearly three-quarters (£26.5 billion) of the UK’s £38 billion SME lending market. Lenders are attributing 67% of their SME portfolios to intermediaries on average. The data also reveals brokers’ role in diversifying SME funding access, with 33% of deals facilitated…
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New data from independent lender, Time Finance, reveals that SMEs are not utilising their options when it comes to accessing alternative finance, with nearly 60% having never looked beyond their own bank for commercial finance solutions. Urging SMEs to broaden their horizons when it comes to investing in growth, Time Finance’s new survey delves into…
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The British Business Bank’s latest Nations and Regions Tracker reveals a significant increase in external finance usage among UK small businesses, with 46% now leveraging it, a rise of 10% from the previous year. Notably, Wales leads with 53% of smaller businesses using external finance, marking a 16 percentage-point increase. Despite this growth, 61% of…
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New research by Novuna Business Cash Flow has found that 33% (a third) of small and medium-sized enterprises (SMEs) in the UK urgently require financial support within the next year to continue their operations. This survey highlights the heavy reliance on personal sources of finance, with 19% of SMEs resorting to using their own savings,…
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More than half of small businesses would have to put their plans on hold if they could not secure finance according to Novuna Business Finance. The research shows that access to finance is becoming a critical issue for UK small businesses, with new research finding that more than half (53%) would have to put their…
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The number of SME owners securing personal guarantee insurance (PGI) for a business loan doubled in September 2023 compared to the same month in 2022 according to research byPurbeck Personal Guarantee Insurance. The research found that SME business owners are now taking on loans that are on average £388,494 from £357,016 in Q3 2022 – an increase of close…
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New research by Praetura, has revealed that three in five (59%) SMEs and their brokers surveyed say that it is more difficult now to access the funding they need to grow than in the last five years, as a funding crunch hits Britain’s small businesses. SMEs suggest that servicing demand is their biggest challenge, not…
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Two in five (40%) small and medium sized enterprises (SMEs) have had to stop or pause an area of their business because of a lack of finance over the last couple of years – a significant increase from 27% of SMEs recorded in last year according to new research commissioned by Manx Financial Group. The…
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Equity finance provision for SMEs fell sharply in the second half of 2022, according to the British Business Bank (BBB). The BBB said 2022 was a tale of ‘two halves’ with a record level of investment in businesses in the first two quarters followed by a decline driven by concerns about potential overvaluations and a…
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More than 40,000 UK SMEs are expected to rely on finance-providers to help stay afloat amid challenges around rising costs, according to research from fintech lender Nucleus Commercial Finance (NCF). While 15% of firms with 10 to 249 employees expect to need a loan to support the running of their business, just 1% of sole…
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