Over one in three SMEs (34%) expect access to finance to become more difficult following Brexit, according to the latest research.
The British Business Bank’s 2019 small business finance markets report revealed that 29% of SMEs expected Brexit to have a negative impact on their business.
However, more than half (50.4%) still had aspirations to grow over the next 12 months.
Keith Morgan, CEO at the British Business Bank (pictured above), said: “It is clear that a lack of confidence is affecting many smaller businesses, as evidenced by a continuing drop in demand for external finance.
“It is, however, encouraging to see that half still aspire to grow and that there’s increased awareness of a broader range of finance options.
“This will be an important factor in ensuring that smaller businesses are better placed to make the right finance choices as uncertainty diminishes and confidence returns.”
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