More and more SMEs in Britain are turning to
invoice and asset based lending as they lose faith in traditional
sources of funding, research has shown.
In a survey of 250 UK accountants, 80% said
their clients no longer trusted traditional financing and 53% said
invoice and asset based lending was most effective for small
business growth.
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The results also showed 60% of accountants
surveyed believe there will be worse to come for SMEs in terms of
insolvencies as economic recovery remains uncertain in the wake of
the recession.
The annual “Credit Check” survey was carried
out by invoice and asset based lender Venture Finance and
Accountancy Magazine.
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By GlobalData
