BKL tax partner David Whiscombe comments via the UK200Group on a new study that suggests SMEs are shunning finance for ‘self-sufficiency’.
“The conclusion I would draw is not that SMEs don’t need or want external finance; it’s that banks have, by and large and with some honourable exceptions, lost the trust of the SME community. It will take them a long time to recover it, if they ever do: and in the meantime the opportunity for trustworthy non-traditional lenders to fill the gap is there.”
Further comment is available on the UK200Group website.