Bank Lending to SMEs, Bad Debt Experiences, Alternative Finance Awareness - BFB Epsd 135
By Rob Warlow
We open this Business Finance Bulletin by taking a look at the latest Bank of England statistics on bank lending to small businesses. The figures to the end of July show strong support to SMEs but will this continue post-Brexit? Bad debts and writing off irrecoverable amounts is not what you want to happen every day but new research reveals that many businesses are being faced with accepting losses on money owed to them. Alternative finance continues to be a growing source of finance for small businesses and a new survey from Deloittes shows how many businesses are aware of it and intend to use it to fund growth plans. The findings suggest there is scope for improvement.