Commenting on Smith & Williamson’s findings that seven in 10 small businesses fail to secure external finance at the first attempt, Simon Willmett, Finance Director of Nucleus Commercial Finance, said: “From working with businesses every day, we know that the challenges they face when aiming to deliver growth are varied, we believe that they should not be restrained by a lack of finance. It is vital that businesses are supported with the right expertise and financial solutions, when they need them.
“Many businesses are turned away by their high street bank, but this is not their only option. Alternative lenders come without the typical ‘tick box’ mentality, providing flexible and customised funding solutions to businesses. At Nucleus we don’t categories businesses, instead we work with them individually, to understand their specific needs and support SMEs in delivering growth and achieving their ambitions. This ensures that they help drive our economy forward and provide job opportunities across the country.”