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Funding remains scarce for SMEs

Aug 19 2010

SMEs need ingenuity when seeking extra funds

The scarcity of expansion capital continues to hit healthy SMEs.

Research by freelancer recruitment website PeoplePerHour found that 96 per cent of the 360 respondents said it was now harder than ever to obtain growth finance.

Xenios Thrasyvoulou, CEO of PeoplePerHour, says: ‘Access to funding remains a key obstacle for SMEs. The government has recognised the importance of the small business sector, but if an "enterprise-led recovery" is to happen, banks must re-examine their lending policies and extend a helping hand to SMEs.’

Encouragingly, 71 per cent of respondents said it was now easier to start a business compared to five years ago, with 40 per cent saying it was much simpler to sell products and services online.

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