Just 14% SMEs used asset finance to drive their business over the last 12 months, according to a survey of 1,005 SME decision makers by Hitachi Capital in October.
This compared to 32% who used their own funds, 9% who relied on bank loans, and 19% who used an overdraft facility.
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Of those businesses that used asset finance, 37% were worried about retaining business, compared to just 28% of those who used a high street bank.
The second most worrisome category was managing cash flow, which 36% of business who used asset finance said worried them.
Dealing with compliance and regulation, red tape, and employee skills gaps and shortages were all highlighted as concerns by 29% of businesses that used asset finance.
The survey noted there were differences between various industries in terms of their concerns. For example, those in manufacturing, retail, construction, transportation and distribution all said they worried most about retaining business and managing cash flow.
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By GlobalDataHowever, retaining business and economic volatility were the main sources of apprehension for media, hospitality and medical companies,. Meanwhile, legal, real estate and finance business divisions were most concerned about compliance and regulations.
