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Financing a small business is becoming more difficult for SME owners

Research has shown that more entrepreneurs than ever before are experiencing major issues with financing a small business, with SME owners hit the hardest.

Begbies Traynor’s Red Flag Alert report analysed the financial health of UK businesses, and found that a huge 91% of businesses who reported financial worries at the end of 2016 were small and medium sized companies.

In December 2016, over a quarter of a million British SME owners declared that they were having ‘significant’ financial problems. 23% of these struggling businesses were located in London, an increase of 5% on the previous year.

The findings show the fragility of the UK small business sector, with lack of funding revealed as one of the main reasons for money worries. Financing a small business can be difficult when dealing with fears over poor cash flow, and business growth can be restricted as a result.

The report also highlighted business concerns surrounding the current Brexit discussions, and the effect that this will have on companies. Over a fifth of UK company owners said that they were worried about rising costs following the vote and are now taking a more cautious approach to business development.

Financing a small business is becoming more difficult for SME ownersHow does Quick Capital make financing a small business easier?

A cash advance from Quick Capital can be the answer to many financial worries. Whether your business is struggling to pay a bill, or needs a quick cash injection to buy new stock, Quick Capital can help.

With a fast application process, you could have the funds your business needs to survive in as little as 72 hours. Talk to one of our friendly advisors today to see how financing a small business like yours can be simple!

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