Credit not SMEs’ biggest worry
Mar 19 2010
Decreasing customer spend and the ability to win new business are bigger concerns for SMEs than the availability of credit, according to a survey from Business Link in London.
Some 36 per cent cited the former issues as their main worries, compared to 6 per cent who say access to funding is their biggest problem.
Patrick Elliott, chief executive of Business Link in London, says: ‘A recovering economy does not mean that small businesses are out of the woods; recovery on the business front generally takes longer to manifest itself and entrepreneurs need to remain on their toes in the months ahead.’
Of the 3,000 SMEs surveyed, 72 per cent say they have been affected by the recession.