Business confidence slips as demand for finance falling on deaf ears

The Business Trends optimism index fell to 95.1 in July from a figure of 95.6 in June, as the manufacturing sector’s fragility continued into the summer.

The BDO index was at its lowest level since January, and indicates that the manufacturing sector is likely to have contracted in the second quarter.

The Chartered Institute of Personnel and Development (CIPD) also released its report suggesting that the amount of employers looking to cut jobs was greater than the number looking to bring in more staff.

It is often suggested that growth in private sector jobs is determined by the access to finance businesses may have. If a business can access a financial facility to suits its requirements, they can then look to expand their operations, take on more staff and grow.

However UK banks are currently not freely lending and thus the great demand for finance is not being matched by the banks’ supply.

Have you thought of Invoice Finance?

Here at Skipton Business Finance, we are always looking to offer funding to businesses up and down the UK.

Our financial products, which include invoice factoring and invoice discounting, tend to be more flexible and accessible than traditional bank loans and overdrafts.

If you’re an SME owner looking for a funding option, why not give one of our award-winning staff a call today to see what we can offer you.