Existing cash flow, business credit cards and bank overdrafts came out on top as the most common methods of funding currently used by businesses, according to our SME Trends Index 2014.
Take a look at our infographic which shows in more detail which methods of finance are currently being used by businesses.
“Lenders, and banks in particular, need to convince small business owners that they are here to provide support for those looking to grow and employ. Without clearer support and positive action, this could remain a significant obstacle to business confidence and securing a sustainable recovery.”
This was the verdict of Phil Orford MBE, Chief Executive of the Forum of Private Business, after viewing the results of Hilton-Baird Financial Solutions’ latest SME Trends Index, in which exactly half of the UK’s businesses said that the level of funding support that’s available to them is inadequate.
Credit cards are currently one of the most-used forms of finance for businesses, but are they good or bad for business?