The research by Hilton-Baird Financial Solutions found that 19 per cent of the businesses asked were using money from family and friends, up from 11 per cent the previous year.
Of these, one in four said access to funding was their main concern for the next sixth months, and more than half were planning to seek additional funding. Evette Orams, Managing Director of Hilton-Baird Financial Solutions, said: “The downward trend of traditional business lending can be seen both as a negative and positive. On the one hand many businesses are being starved of vital funding, but on the other it is driving businesses to look at other, arguably more suitable, funding methods.” The research also found that usage of invoice and asset finance was increasing. Image source
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.