You can use the search function to find a range of UK Finance material, from consultation responses to thought leadership to blogs, or to find content on a range of topics from Capital Markets & Wholesale to Payments & Innovation.
Almost one in four SMEs see political uncertainty as one of the biggest obstacles facing their business, according to a major survey of over 4,500 small firms. The latest BVA BDRC SME Finance Monitor, published today, has found that 24 per cent of SMEs now see political uncertainty as a major barrier to their business going forward, up from 15 per cent a year ago.
Four in ten SMEs named political uncertainty, legislation and regulation or the current economic climate as one of the major barriers to their business in the coming 12 months, up from three in ten for 2017. Those SMEs that trade internationally were even more likely to be concerned about political uncertainty, with 37 per cent of those who import and export naming it as a major barrier, up from 18 per cent a year ago. The survey also reveals that only one in 20 (five per cent) of SMEs see access to finance as a major barrier to growth, while 80 per cent of SME applications for finance are approved by lenders.
UK Finance recently launched an online guide, supported by leading business groups including the Federation of Small Businesses (FSB), offering SMEs advice on how to prepare for the UK's departure from the EU. The Let's Talk Business website features extensive guidance on how to apply for finance, make payments overseas and manage cash flows, as well as featuring contact points and details of the various support schemes and resources available.
Stephen Pegge, Managing Director, Commercial Finance at UK Finance, commented:
?This survey suggests many small businesses are increasingly concerned about the ongoing uncertainty over Brexit, particularly those that trade internationally.
?Through our ?Let's Talk Business? campaign, we are providing guidance to help SMEs plan for the changes ahead and consider whether they may need any additional finance.
?The banking and finance industry has the capacity to support viable businesses whatever the outcome and lenders continue to approve over eight in ten of finance applications from SMEs. We would therefore urge SMEs to be confident in approaching their bank and discussing any financing needs, and to get in touch early on to improve their chances of success.?
Top tips from the Let's Talk Business guidance are:
<p><strong>Notes to Editor</strong></p> <p> 1. UK Finance is the collective voice for the banking and finance industry. Representing more than 250 firms across the industry, we act to enhance competitiveness, support customers and facilitate innovation.</p> <p> 2. The latest BDRC SME Finance Monitor for Q4 2018 can be found here: <a href="https://www.bva-bdrc.com/products/sme-finance-monitor/">https://www.bva…; <p> 3. UK Finance launched its Let?s Talk Business campaign in February 2019, supported by various business organisations including the British Chambers of Commerce (BCC)< Confederation of British Industry (CBI and Small Businesses (FSB) <a href="https://www.ukfinance.org.uk/uk-finance-launches-campaign-help-smes-pre…;
26.04.24
22.04.24
24.04.24
By downloading this document, you understand and agree that any sharing, distribution or republishing of the content, without prior written authorisation from the author or content managers at UK Finance, shall be constituted as a breach of the UK Finance website terms of use.