Comments on BVA BDRC SME Finance Monitor
Following the release of BVA BDRC’s Q2 SME Finance Monitor, Chirag Shah, CEO, Nucleus Commercial Finance said: “The last 18 months have presented serious challenges for SMEs across the country, with many businesses simply struggling for survival, and so it’s very encouraging to see SME confidence on the rise, with over half now expecting to grow. With lockdown restrictions now lifted, SMEs are in a better place to plan for the future and are looking to external finance as a way to do this.
“However, challenges still remain. As the economy opens up and businesses fully reopen, they will be facing difficult decisions, both practical and financial and will need somewhere to turn to. This is where government and industry have a vital role to play, in communicating the support available to SMEs and how it can help businesses thrive beyond the pandemic. The alternative finance industry will be paramount to SME recovery, in providing businesses with the finance they need at speed.”