4R Blog

RSS Feed

Business lending 'a top SME priority in 2013'

Date Added: 10/01/2013  

A new report has highlighted how small to medium-sized enterprises (SMEs) all over the country will continue to rely on banks for business lending over the course of the coming 12 months.

According to Aviva's bi-annual SME Pulse, more than two-thirds (65 per cent) of firms with 26-100 employees reported that business lending schemes targeted at SMEs are the most important factor in influencing business confidence.

It was noted in the report that against the one per cent growth in GDP reported last October, 41 per cent of respondents believe that economic statistics can have a measurable financial impact on business performance.

David Bruce, commercial product manager at Aviva, explained how the report has shown the importance of wider macroeconomic measures in shaping business confidence.

He said: "With the increasing spotlight on SMEs, business owners are also looking for support and action from the government."

Respondents taking part in the research indicated business lending remains a key concern for them during 2013, with 48 per cent stating improved lending to SMEs would affect confidence.

Some 60 per cent of those polled said relief on business rates would provide a boost to levels of business confidence around the UK, while government initiatives to tackle red tape were cited by 58 per cent of those surveyed.

"There is a growing focus and importance on the sector in driving economic recovery and this optimism is further substantiated by the number of SMEs predicting ambitious growth plans for 2013," said Mr Bruce, who highlighted the fact that the country's economic recovery depends on the success of SMEs.

Many firms are still finding it hard to make ends meet and they may need to take business debt advice in order to avoid being served with a winding up order.

A study of accounts filed by 25,000 British organisations by chartered accountants and business advisory body Baker Tilly showed a quarter of British companies are struggling with debts.

Need advice on Winding up Orders? Call 0800 9020123

Posted by Julie Cutts

Get the Help You Deserve

0800 90 20 123

Urgent Help Call 24/7

020 7183 2606

We'll Call You

Request a Callback