A Fifth of Small Businesses Postpone Raising Investment until After Election
Access to finance listed as main problem small and medium-sized enterprises want to see addressed by the new government
Access to finance was named as the main issue small businesses want to see tackled by the post-election government, with 13% of companies stating it was more difficult to secure investment now than it was a year ago, according to the latest quarterly Close Brothers Business Barometer (CBBB).
Despite 73% of small business owners planning to seek finance in 2015, a fifth of businesses surveyed admitted that they are delaying investment until after the election due to ambiguity over the business and finance atmosphere under a new government.
The top two post-elections concerns named by the CBBB’s respondents was the possibility of the return of a coalition government and an EU referendum, and what these issues would mean for UK enterprise.
CEO of Close Brothers Invoice Finance, David Thomson, commented on the findings:
“It is understandable that some [business owners] are holding back from making important business decisions pending a clearer picture of the future.”
“Cash flow is the lifeblood of business and we hope that enabling access to appropriate finance is high on the agenda for the post-election government so that small and medium-sized enterprise are in a strong position to invest and seize opportunities when decision-making is back on the agenda.”