SMEs fear finance tightening next year

07 December 2017

A survey by payments giant WorldPay has found that 52% of SMEs are concerned that bank loans will not be as readily available in 2018 as they are now while nearly a third of SMEs claim to have already encountered problems finding fresh finance.

The survey also found that of the SMEs that sought funding over the last 12 months, 29% said that they were put off from going ahead because the costs were too high.

However, 40% of younger business owners say the growth of alternative finance options, such as peer-to-peer lending and business cash advances, have reduced their reliance on bank funding.

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This article has been produced by for general interest. No responsibility for loss occasioned to any person acting or refraining from action as a result of the information contained in this article is accepted by HPG Holdings Ltd. In all cases appropriate professional legal and financial advice should be sought before making a decision.