Business

An appetite for borrowing will see 2017 end on a high

By March 3, 2017 No Comments

Myself and many other people in the world of business are feeling optimistic about investments and borrowing, and for good reason.

New figures show that SME’s appetite for borrowing and access to finance has improved over the last three months with 41 per cent of small businesses are looking to borrow money, which is up from the previous quarter.

Entrepreneurs across the UK are confident about their business growth and are looking to borrow to invest in the internal infrastructures of their business, such as their IT systems and staff. According to reports many believe that the creation of solid foundations will leave them better able to face any negative headwinds, increasing resilience, efficiency and growth.

I truly believe that in order to achieve in business you must be willing to invest in your business and now there appears to mutual recognition that failure to invest in infrastructure and growth could be just as detrimental as any negative external factors.

Despite feeling positive about the year ahead, there was an initial panic amongst the SME’s following the Brexit decision and it seems that SMEs’ confidence in the UK economy as a whole is still mixed.

However against this backdrop, business owners are confident and optimistic about their own business prospects is at an all time high. Let’s look to the year end figures for proof of that and we may well be pleasantly surprised.