A report published by the British Business Bank has revealed that a third of small businesses believe it will become ‘more difficult’ to access finance once the UK leaves the EU.
Commenting on the report, Keith Morgan, CEO of the British Business Bank, said: ‘It is clear that a lack of confidence is affecting many smaller businesses, as evidenced by a continuing drop in demand for external finance. It is, however, encouraging to see that half still aspire to grow, and that there’s increased awareness of a broader range of finance options.
‘This will be an important factor in ensuring that smaller businesses are better placed to make the right finance choices as uncertainty diminishes and confidence returns.’
For advice on access to SME finance, please contact Lisa Entwistle-Evans in the Penarth office.