Latest iwoca SME Expert Index report finds
IN BRIEF:
- Report suggests there are signs of confidence returning to the UK’s 5.5m small and medium-sized businesses and the lending market they rely on
- The research wascarried out with over one hundred SME finance brokers who submitted over 2,500 SME finance applications in March
- Worries about a recession are at their lowest level in a year, whilst almost half of brokers have seen increases in the number of loans they are applying for on behalf of SME clients
What does this mean?
Colin Goldstein, Commercial Growth Director of iwoca, said: “The lending market for the UK’s 5.5 million small and medium-sized businesses is gradually gaining momentum. With more applications for loans, more businesses requesting finance to grow their business, and recession fears continuing to recede, there are positive signs that the market and health of our economy will improve. But while I’m cautiously optimistic, I know the very real challenges SMEs face. I speak to brokers day in, day out; they’re seeing high street banks retrenching, huge pressures coming from the energy market, and concerns about the lack of support from central government.”
