Half of SMEs expect monthly revenue to increase in 2016
New research from Fleximize, an alternative SME lender, amongst 129 business owners reveals that just one in ten (10%) believe the financial health of their companies is 'poor' or 'very poor'. Just over one in three (35%) describe it as 'good', and 4% say it is 'excellent'.
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This level of optimism helps explain why 49% expect their companies' monthly revenue to increase over the next 12 months, compared to just 16% who anticipate it to fall.
However, the findings reveal that 23% of business owners are looking to secure more funding over the next year than they needed during the past 12 months, and only 8% think they will need less credit.
Max Chmyshuk, Founder and Managing Partner at Fleximize, said:
“Banks are turning down around one in five credit applications from small businesses, and just under one in ten from medium-sized enterprises(2), and this is fuelling demand for alternative sources of finance. Indeed, this year the UK alternative lending market has been providing over £211 million of credit to businesses and individuals every month, more than double the average monthly figure for 2014.”
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