There is strong evidence to suggest that the UK economy is continuing to grow, however access to finance remains a critical issue for businesses as they look to expand and meet growing order books, according to The British Chambers of Commerce’s (BCC) Q1 Quarterly Economic Survey published today.
The BCC’s Quarterly Economic Survey is the first major economic survey of the quarter, and is closely watched by the Bank of England and the Treasury.
For both manufacturing and services, all the major Q1 balances are stronger than their long-term averages, and most are higher than their 2007 pre-recession levels however the BCC believes that the recovery must become more balanced in the months ahead and that access to finance is vital if “we are to transform our economy from being merely good, to being truly great”.
John Longworth, Director General of the BCC said: “It is great to see another positive story as we enter the 25th year of our survey. Confidence is high and our members are determined to continue driving the recovery”.
He added: “Access to finance and export support also remain vital if we are to secure a truly great economic recovery”.
Access to Finance
Skipton Business Finance has helped hundreds of SMEs and large corporates gain access to funding by providing a range of Invoice Finance solutions including Invoice Factoring an Invoice Discounting. We are also proud to be part of an exclusive panel of approved lenders of the government-backed Enterprise Finance Guarantee (EFG) scheme.
Our funding lines start from as little as £25,000 and currently go up to £5,000,000.
Call us today on 0800 0854150 (or 0330 1232437 for mobile) for more information