Increasing business confidence hints at sustained growth

There are increasingly more ways for small businesses and SMEs to access finance, despite the fact that accessing bank finance has become more difficult

Business confidence across the UK has hit its highest level for six years, according to a large economic survey.

The British Chambers of Commerce (BCC)’s latest quarterly survey predicts GDP will have grown by 0.6% in the second quarter of 2013. This is in stark contrast to its predicted 0.9% growth for the whole of 2013, a forecast made last year, implying that the recovery is gathering strength.

The news comes on the back of other positive data including an expanding manufacturing sector, which showed growth for the second month in a row.

The BCC said that more businesses were looking to export and take advantage of opportunities that are emerging across the rest of the world.

However, BCC director general, John Langworth, warned that the UK economy had already seen a number of “false dawns”, with worries about accessing finance and high inflation having previously limited ambitions and dragged the UK economy back into the mire.

Access to finance: a worry?

Although SMEs and small businesses may still struggle to access bank finance, a myriad of viable business finance alternatives exists for the savvy business owner.

Such alternatives include invoice finance, which works to release cash that gets tied up in cashflow.

Invoice finance includes invoice factoring and invoice discounting facilities, which vary in the level of credit control provision they provide. Click the links to find out more.

Alternatively why not give us a call on 01756 694933 or email us at info@skiptonbf.co.uk; we would love to hear from you!