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)