Breaking News
Significant Rise in UK SMEs Borrowing Money Expected in 2023
The majority of UK SMEs (88%) plan to lean on business finance and credit this year according to new research carried out by solution-led fintech provider Nucleus Commercial Finance (NCF).
As the economic situation continues to challenge the outlook and stability of UK SMEs, it is revealed that only 12% of SMEs say they have no plans to borrow any money over the next 12 months – this rises to 29% when including sole traders and micro businesses. With interest rates still at record high levels, this is going to place a real financial burden on UK businesses.
The expected borrowing is not, however, solely to patch holes. The reason most commonly cited by small and medium sized businesses is to enable them to seize growth opportunities (38%). More than a third stated that they plan to borrow in order to help employees with the rising cost of living (34%). A similar number said that borrowing would be driven by a determination to use it to make the business more environmentally sustainable.
Rising costs and financial stress are still having an impact, however. A third (33%) of small and medium sized businesses expect to use business finance to cover unavoidable rising overheads, while one in five (20%) are likely to do so in order to pay off existing debt.
|
UK SMEs |
Small & Medium sized businesses |
||
| To seize growth opportunities |
31% |
To seize growth opportunities |
38% |
| To cover unavoidable rising overheads |
29% |
To help employees with the cost of living |
34% |
| To help employees with the cost of living |
21% |
To cover unavoidable rising overheads |
33% |
| To make the business more environmentally sustainable |
18% |
To make the business more environmentally sustainable |
30% |
| To pay off debt |
15% |
To pay off debt |
20% |
Companies In This Post
- The European Central Bank Selects Almaviva and Fabrick for Digital Euro Project Read more
- EXCLUSIVE: “The Advantage of Ancient Errors” – Tony Fish in ‘Discover Sibos 2025’ Read more
- EXCLUSIVE: “Game Changer” – Andy Lyons, Freemarket in ‘The Fintech Magazine’ Read more
- Binance Launches The Blockchain 100 Award to Honor Top Creators Driving Blockchain Innovation Read more
- MAPFRE AM Appoints Ismael García Puente as the New Deputy Director of Investment Strategy Read more
The European Central Bank Selects Almaviva and Fabrick for Digital Euro Project
Almaviva, an Italian digital innovation Group, and Fabrick, a Sella Group company active in Open Finance at an international level, have been selected by the European Central Bank (ECB), as part of the Digital Euro project, to develop the mobile app and its technological infrastructure that will enable European citizens to use the European digital currency.
Attivo Deploys Recordsure’s AI Technology to Evidence Its Ongoing Advice Compliance and Cut File Review Costs
Attivo, a forward-thinking and rapidly growing independent financial advice firm, has implemented Recordsure’s predictive AI technology to enhance its ongoing advice compliance, ensure consistent and compliant service delivery, and reduce the cost of file reviews.
Aditya Birla Global Trading and Crown Agents Bank Partners to Support Business Expansion Across Africa
Crown Agents Bank (CAB) has collaborated with Aditya Birla Global Trading (formerly Swiss Singapore) to develop tailored financial solutions that support their strategic expansion across African markets.
SEI Announces Strategic Partnership with Graphene
SEI® (NASDAQ:SEIC) today announced a strategic partnership between SEI Investments (Europe) Limited (SIEL) and Graphene, a U.K.-based Infrastructure-as-a-Service provider, to power the growth of Graphene’s offering for wealth managers, family offices, and independent financial advisers. Additionally, SEI Ventures Inc., SEI’s venture capital program based in the U.S., made a strategic investment in Graphene.
Open Banking Startup Yavrio Named One of CNBC’s UK Top Fintechs 2025, Cementing Leadership in Enterprise Finance
Yavrio, a fast-growing Open Banking fintech enabling embedded payments and banking directly into ERPs, has been selected as one of CNBC’s Top UK Fintechs 2025.
Evertec Announces Closing of Controlling Stake in Tecnobank, Expanding Product Offering in Brazil
EVERTEC, Inc. (NYSE: EVTC) (“Evertec”, the “Company”, “we” or “our”) today announced that the Company has closed the previously announced transaction to acquire a controlling stake in Tecnobank Tecnologia Bancária S.A.
$1,700 Lost per Australian to Fraud in 2025 Amid AI Advances and Peak Season Risks, According to Adyen
Adyen, the global financial technology platform, revealed that fraud losses in Australia are on the rise, set to intensify as the peak shopping season approaches.
The European Central Bank Selects Almaviva and Fabrick for Digital Euro Project
Almaviva, an Italian digital innovation Group, and Fabrick, a Sella Group company active in Open Finance at an international level, have been selected by the European Central Bank (ECB), as part of the Digital Euro project, to develop the mobile app and its technological infrastructure that will enable European citizens to use the European digital currency.
EXCLUSIVE: “The Advantage of Ancient Errors” – Tony Fish in ‘Discover Sibos 2025’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
EXCLUSIVE: “Game Changer” – Andy Lyons, Freemarket in ‘The Fintech Magazine’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Binance Launches The Blockchain 100 Award to Honor Top Creators Driving Blockchain Innovation
Binance, the world’s largest crypto exchange by trading volume and users, today announced the inaugural launch of The Blockchain 100. This new annual awards show is designed to recognize and celebrate the most influential creators advancing blockchain education, innovation, and community engagement.
MAPFRE AM Appoints Ismael García Puente as the New Deputy Director of Investment Strategy
MAPFRE AM, the asset management arm of MAPFRE Group has appointed Ismael García Puente as the new Deputy Director of Investment Strategy, a newly created position in which he will be involved in the development and communication of the MAPFRE Group’s investment strategy, overseeing the management of specialist funds, market analysis, and asset allocation. He will also continue to assume responsibility for managing the wealth manager networks and life insurance portfolios as well as liaising with customers.
Open Banking Startup Yavrio Named One of CNBC’s UK Top Fintechs 2025, Cementing Leadership in Enterprise Finance
Yavrio, a fast-growing Open Banking fintech enabling embedded payments and banking directly into ERPs, has been selected as one of CNBC’s Top UK Fintechs 2025.
Crypto Wallet Adoption is Skewing Affluent as Dreams of Financial Freedom Fades
A new research report from global payments infrastructure platform Mercuryo and Web3 research firm Protocol Theory shows that while cryptowallet adoption is accelerating among affluent users, lower-income groups face costly access points and risk being excluded.