Manufacturing Businesses

Asset-Based Funding to UK Manufacturing Businesses Hits £2.41bn

Asset-Based Funding to UK Manufacturing Businesses Hits £2.41bn

Asset-based funding among UK manufacturers has increased dramatically in the last five years growing by 20% to £2.41bn, according to research by the business finance group the LDF. The analysis, which looked at data from over 100,000 UK enterprises, indicated that an increasing number of UK manufacturing businesses are choosing asset finance for growth as bank lending continues to drop, falling 14% since 2010. The report also looked at what subsectors were using the alternative finance route the most, with alcoholic drink producers topping the list at 26.2%; followed by metal production (16.4%); food and drink (11.5%); pharmaceuticals (5.3%); cars (4.7%); plastics (4.4%); machinery (4.1%); electronics (3.9%); chemicals (3.8%) and aerospace businesses (3%). Peter Alderson, managing director... »