According to recent research conducted by Funding Circle, a majority (77%) of small and medium-sized enterprises (SMEs) anticipate the need for additional financial in the future.
Increased Resilience in SMEs across the UK
According to Funding Circle, the majority (78%) of SMEs stated that the economic obstacles they encountered in 2023 have strengthened the resilience of their company. Additionally, a larger number of business owners have expressed no worries regarding the state of their business.
Funding for Growth
To tap into their potential for growth, 77% of businesses anticipate the need to obtain extra funding in the future. This is an increase of three percentage points from the previous year, with 52% of companies planning to do so within the next 12 months. Of these, 73% intend to utilise the additional finances for the purpose of expansion.
Positive Future
According to the data, 88% of the respondents reported feeling equally or more positive when considering the upcoming 12 months.
Despite the presence of these budding signs, a large number of business proprietors continue to face challenges due to the persistent economic uncertainty of the recent years.
According to Funding Circle, 45% of small and medium-sized enterprises (SMEs) reported halting, cancelling, or postponing an investment in 2023.
At Regency, we are a long established specialist finance company, offering a distinct range of solutions tailored to each client’s needs. Our goal is to help businesses grow through putting decades of professional financial expertise to work to ensure this happens.
To discuss the funding options available to your business. Please do not hesitate to contact us on 0161 280 4220 or lynnew@regencyfactors.com
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