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10 things UK SMEs are saying about…

Close Brothers Asset Finance regularly surveys members of the UK’s small and medium sized business enterprises on a wide range of topics, from their thoughts on the macro economy to how they are coping with the pressures brought about by the Covid pandemic.  

Following the release of our latest SME research DATA HUB, we pick out 10 stats that caught our eye…

  • Seeking funding for business investment - it’s a ‘yes’ for 58%
  • The UK’s economic outlook71% are, perhaps surprisingly, glass half full
  • Business performance4 in 10 expect to expand and half again to ‘stay the same’
  • Concerns – cashflow tops the list with ‘competition’ a distant second
  • Main priorities – achieving growth, well ahead of everything else 
  • Late payments are still a problem for 40% of firms…making it difficult to manage cashflow
  • Skills gaps46% of business owners say there is one!
  • Payment delays - Covid has caused extra invoice payment delays for a third of firms
  • Mental health - Increased anxiety and more low moods are just two impacts Covid has had on business owners
  • Staying organised and maintaining a routine are just two steps SME owners are taking to reduce their stress and anxiety