Quarter of SMEs not planning to invest
More than a quarter (27%) of SMEs are not planning to invest over the next 12 months, according to new research. The study, by Hitachi Capital Invoice Finance, also found 57% of business owners had not sought any external finance in the past year, with 41% using existing overdraft facilities and more than 34% investing personal funds into their firm. SME owners were also concerned that Brexit could impede their access to finance, with 59% predicting that it would be more difficult to obtain it in future. Over-reliance on individual clients emerged as another area of concern, with 17% of firms saying that a single, large client was responsible for more than half of the company’s turnover. On average, SME owners said their biggest client was responsible for 26% of revenue.
The Mail on Sunday (13/11/2016)