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Access to finance may become harder for SMEs

SMEs believe access to finance could become harder over the next three years, with the late payment of invoices flagged as an area of concern. A study by MBH Corporation found that while 40% of SME leaders believe applying for funding will become more difficult, just 10% expect the process to become easier. The study shows that 40% of SMEs plan to borrow to fund growth over the next two years. Callum Laing, CEO of MBH Corporation, said: “Access to funding is a constant worry for SMEs and being rejected can have major consequences for expansion plans”. However, noting that just 17% of businesses that applied for loans in the last year were rejected, Mr Laing said: “The good news is that experience over the past year shows that SMEs which have applied for finance have been successful.”

City A.M.

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