lack of funding

SMEs Fear Failure due to Lack of Funding

SMEs Fear Failure due to Lack of Funding

Over 55% of UK firms are worried that there will be a shortage of cash for them to borrow this year, with almost a third fearing the lack of lending could put them out of business, according to a survey of 4,000 businesses, conducted by Touch Financial. This nervousness amongst the small business community follows a very tough trading period from late 2008, while the UK economy was in recession. Almost half of the organisations questioned believed that the downturn in the British economy led to their growth being restricted and a number of them were forced to cut costs, which included 16% of businesses making staff redundancies. As they go into 2010 the small business community remain very nervous about their prospects of accessing commercial finance and the impact it would have on their b... »