Bad debt among SMEs has increased significantly over the last year, soaring to more than £20,000 per business, according to a new report.
Figures from Bibby Financial Services showed that the average SME’s debt now stands at £20,403 – an increase of more than 70 per cent compared to just a year ago. This increase could reflect a build up of pressure in supply chains across the UK.
The research also showed a downward trend in SME investment, with average planned investment falling from £101,920 in the second quarter of 2016 to £65,782 in 2017. This is primarily due to apprehension following 2 general elections and a referendum.
The consensus from the article is that there needs to be clear direction from the government on our negotiations with the EU and more clarity on its regional commitments such as the Northern Powerhouse.
If you’d like to find out more about alternative our business finance facilities, we’d love to be able to help. Why not give Regency a ring today on 0161 280 4010, drop us an email at lynnew@regencyfactors.com or browse our website for more details on how our facilities work
Comments
Post a Comment