Despite a very challenging few years, our Impact Report for 2023 found that SMEs are showing increased resilience and optimism, and are poised for future growth.
Small business owners have continued to face challenges while recovering from the post-pandemic environment, with 45% of the SMEs we surveyed reporting that they had cancelled or delayed an investment in 2023. Despite this, their strength has prevailed – with more than three quarters reporting that these challenges taught them valuable lessons and that, rather than weakening their prospects, had increased their resilience.
Unlocking growth potential
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However, in order to unlock their potential for growth, 77% do expect to need to access additional finance in the future, with more than half expecting to do so in the coming 12 months. Of these, 73% expect to use this funding for investment and growth, which is a good sign that business confidence is increasing, and the economy is finally starting to improve.
The report also found that working capital had become an increasing area of focus during 2023. 14% of SMEs cited cash flow as a major barrier in Q3, compared to 11% at the start of the year. Meanwhile 40% claimed their need for finance was cash flow-related – whether to cover short-term funding gaps, boost working capital, or to help cope with trading difficulties.
Business Finance
With growth, investment and working capital all key reasons for businesses to take out finance right now, we pride ourselves on providing products that can help them meet these goals. Working closely with our brokers, we can offer business loans quickly and easily – with decisions coming in as little as 1 hour, and funds typically paid within 48 hours if approved.
Limited companies can get a quote with no impact to their credit score, which means your clients can assess their options with complete peace of mind. Plus all of our loans come with no early settlement fees, giving them the flexibility to pay their loan off whenever suits them.
Discover Funding Circle’s full product range here
Funding Circle
Funding Circle has been backing small businesses with the finance they need to succeed since they started in 2010.
Offering fast, hassle-free business loans and flexible lines of credit, they are the UK’s number 1 platform for business lending – and have supported over 150,000 businesses with more than £16.9 billion so far.
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About Fiducia Commercial Network
Fiducia Commercial Network is a commercial finance \’Appointed Representative\’ network created to allow independent firms to provide commercial property finance and trading business finance options to their existing client base and network.
Joining the network provides opportunities for professional brokers to offer a full range of commercial finance solutions by acting as an Appointed Representative (AR) with the full support of the Fiducia Commercial Network team.
The Fiducia Commercial Network membership includes FCA authorisation and reporting, PI insurance, and NACFB membership, plus business, compliance, finance, system, and admin support from a company with over 20 years\’ experience in commercial finance.
If you\’d like to discuss joining Fiducia Commercial Network or you\’d like to apply to become an Appointed Representative…
To discuss Fiducia Commercial Network or to apply to become an Appointed Representative email the team via by clicking this link.
For all media and marketing enquiries contact – pr@fiduciagroup.co.uk
