Survey Reveals More Firms Getting Finance

Posted on 02.01.2014, by Rob Warlow

In the latest Small Business Index survey undertaken by the Federation of Small Businesses (FSB) firms are reporting that access to finance is getting easier.

The survey reveals that the number of firms refused their credit application is the joint lowest share since the start of 2012. Mirroring other surveys which looks at the demand for finance only 16% of respondents had applied for credit in the quarter, which means businesses could be paying for investment out of existing sources of capital.

Those businesses accepted for finance continue to report cheaper interest rates being charged, a direct result of Funding for Lending (FLS). With the government having recently re-allocated FLS funds to SME lending the FSB hopes this will mean the banks make finance available to more small firms.

The survey also reports that the UK’s small firms are showing increasing optimism for 2014 as businesses remain positive about the economic outlook.

This increased confidence means more small firms are planning to invest in and explore the global trade market. New data shows businesses expect to see rapid or moderate expansion in the next 12 months. Alongside this, one in 10 businesses report running above capacity while a third are running at full capacity – both the highest figures since the Small Business Index began in 2010.

Feeding into expansion plans, capital investment intentions continue to rise with almost a quarter (23.1%) expecting to invest in the next year.

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