Chirag Shah, CEO, Nucleus Commercial Finance comments on today’s CBI SME Trends Survey: “Amid broader political uncertainty, it’s hardly surprising to see business optimism deteriorate once again. The latest data shows weak activity among SME manufacturers and this is significantly impacting investment. Future investment intentions for the next 12 months remain poor, and while it’s understandable that SMEs remain cautious, spending less on buildings, plants & machinery, and innovation will make it extremely challenging for SMEs trying to compete against larger manufacturers. Our own research reflects this sentiment, as we recently found that a fifth of UK SMEs planned to take out additional finance over the last year but decided not to, with a quarter citing Brexit as the main cause for concern.
“Supporting UK SMEs in delivering growth and achieving their ambitions is essential to driving our economy forward. At Nucleus Commercial Finance we believe the Government and finance industry have a duty to demonstrate the positive impact alternative finance can have for businesses throughout the country. This way, SMEs can continue to invest in their future and stay ahead of the curve.”