Start-ups in the UK are increasingly more likely to take up alternative finance solutions in favour of traditional bank facilities, according to a new survey by Huddlebuy.co.uk
The business deal finder website asked 1,000 small business owners about funding plans for 2012, with a massive 65% planning to approach alternative financing entities in 2012.
Young entrepreneurs were even more likely to consider alternative financing, as three-quarters indicated it as their preferred solution for the upcoming year.
Many respondents indicated that they were less confident about getting funding approvals from banks, which therefore was persuading them to prioritise looking for other solutions.
Invoice finance as funding solution
These facilities are designed to release cash tied up in unpaid invoices, affording more flexible cashflow to the business in question.
Why not find out a bit more how invoice finance solutions are designed to benefit start-ups, or give our team of experts a call today to see what we can offer your business.
The amount of cash funded through Invoice Finance solutions such as Invoice Factoring and Invoice Discounting rose by over 30% between 2006 and 2016....