SME's hoarding cash
Posted on 03 Aug 2016
SMEs hoarding cash
Britain"s smaller companies are hoarding cash and cutting investment, according to Lloyds Banking Group, which says concerns over Brexit and a potential economic slowdown are leading SMEs to be more cautious. Lloyds’ biannual survey found that companies with revenue of less than £1m pounds expect to invest an average of 21,690 pounds in their businesses in the next six months – a fall of 74% compared with July. Meanwhile, a separate survey by specialist lender Aldermore found a fifth of companies said they missed an opportunity to expand their business because of a lack of available finance.
