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News Article

SMEs ‘Missing Out’ On Business Opportunities Because Of Funding Issues

Apr 18, 2018

Nearly a quarter (23 per cent) of small to medium-sized enterprises (SMEs) here in the UK have missed out on at least one business opportunity in the last year because of a dearth of available funding – with 42 per cent of medium-sized companies significantly affected by this.

This is according to new research from Aldermore, revealing that those firms that are affected in this way are actually missing out on income worth on average £78,942 a year. Some 32 per cent of SME leaders in the UK now say that accessing appropriate funding is one of the biggest issues their company faces, along with cash flow problems.

“It is deeply concerning that, despite the ongoing Treasury Select Committee inquiry into sources of SME finance, the amount of businesses missing out on these opportunities has increased over the last 12 months.

“It is vital that lenders work closely with small and medium-sized companies to help them find solutions to their funding issues, ensuring new business opportunities are capitalised on,” group managing director of business finance at Aldermore Carl D’Ammassa said.

A recent study by the British Chambers of Commerce found that SMEs – particularly those in the information and communications sectors – were the most keen to look into new forms of funding like peer to peer lending, as well as equity finance. This might be something you could benefit from if you are trying to access funds at the moment.

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