SMEs shunning finance for ‘self-sufficiency’?

BKL tax partner David Whiscombe comments via the UK200Group on a new study that suggests SMEs are shunning finance for ‘self-sufficiency’.


“The conclusion I would draw is not that SMEs don’t need or want external finance; it’s that banks have, by and large and with some honourable exceptions, lost the trust of the SME community.  It will take them a long time to recover it, if they ever do: and in the meantime the opportunity for trustworthy non-traditional lenders to fill the gap is there.”


Further comment is available on the UK200Group website.


David Whiscombe


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