More SME's turning to alternative finance
Posted on 13 Jan 2016
More SMEs turning to alternative finance
Analysis by Wesleyan has found that rather than rely on overdrafts, savings and credit cards to facilitate growth, 59% of SMEs had used external funding – including crowdfunding and invoice funding – on at least one occasion to drive growth. The figure is up from 30% in the same survey in 2016. Some of 27% SMEs said they now “regularly” turn to external finance, up from 20% three years ago. The report also reveals that 54% of SMEs are feeling “more confident” about their firm’s prospects compared to last year and just 11% are “concerned” about the potential impact of Brexit.
Source: P2P Finance News (30/05/2018)
