Small Business Cashflow warning

Small Business Cashflow warning

With the forthcoming suspected interest rate rise, 40% of SME’s admit to having no financial buffer despite having outgoings of over £4k per month.

SME loan approvals has falled from 58% to 43% in the past year. Where SME’s do have something in reserve, the most popular are:-

  • 59% Cash Savings;
  • 34% Property;
  • 23% Overdraft;
  • 20% Plant and Machinery; and
  • 17% Business Credit Card.

More worrying was the fact that 55% of SME’s admit to paying bills late to ease cash flow issues. 21% admit to doing this monthly.

If you have suppliers who are not paying you then you need to get in touch; we can help you recover what you are due.

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