At the end of June, UK Finance, the trade body of the UK banking industry, unveiled a survey of 18,000 small and medium-sized enterprises, which produced the happy finding that most are succeeding in accessing finance from banks, with 80% of applications being approved by lenders.
That’s supposed to be the good news. But it might be the bad.
These companies have more than access to credit on their minds. Stephen Pegge, managing director, commercial finance at UK Finance, admits: “This survey suggests many small businesses across the country are increasingly concerned about the ongoing uncertainty over Brexit.”
Concern extends to the worsening economic climate and is highest among small firms in London, the north east and west midlands.
They should take courage, though.
Access this research
Enter your work email address to sign in or check whether your organisation already has access to Euromoney.
