With interest rates likely high for the foreseeable future, SMEs are reassessing their outlook and trying to set a clear course for the future.
According to research from Simply Asset Finance, around two-thirds of UK SMEs want more resources and support to be made available to support them and their businesses.
The research also highlights the existence of an awareness gap, with almost half of SMEs admitting that they don’t know where to look for support. The top policy that would have the most meaningful impact on businesses is more support for rising energy bills and other utility costs.
Additional financial support, better accessibility to government grants or loans, and a reduction in corporation tax/corporate tax relief are also desired. The CEO of Simply Asset Finance, Mike Randall, emphasises the need for significant action from the Government to support UK businesses and suggests making it easier for SMEs to invest in asset purchases.
He also highlights the importance of experienced financial partners and lenders in providing clarity on funding options.
