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SMEs Fail to take on New Finance – ArchOver CEO Comments
Angus Dent, CEO, ArchOver:
“Judging by the latest statistics, too many small businesses are unwilling to take on new financing. It’s a natural instinct to avoid debt in an uncertain economic climate, but that is the wrong attitude for SMEs that want to grow.
“Too many SMEs are using their own life savings to fund their business or see the bank as their first port of call when they need to raise money. Instead, we need to do more to educate SMEs on how they can use their greatest asset – the general ledger – to secure other forms of finance.
“SMEs also need to be more confident in considering alternative finance providers that offer a more flexible and personalised service. Fixed-term financing makes access to funding easy and simple and gives SMEs the cash flow security that can support future expansion.
“The UK economy depends on a booming SME sector, and finance is the bedrock of growing a small business. Rather than relying on sluggish, nervous high street banks, SMEs need access to flexible cash facilities.
“UK businesses simply can’t wait for someone else to hand them their fate – they must take on new finance and control their own destiny.”
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EXCLUSIVE: “Passion Project” – Brice van de Walle, Mastercard in ‘The Fintech Magazine’
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FreedomPay Drives Global Merchant Innovation
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FIS Brings AI-Powered Advancements to Seamless, Personalized Digital Banking Experiences
FIS® announced a strategic partnership with Glia to deliver advanced AI-powered customer engagement capabilities across FIS' Digital One suite
Citi Ventures Invests in BVNK to Power the Next Generation of Financial Infrastructure
Citi Ventures has announced a strategic investment in BVNK, highlighting the shift toward digital asset-based infrastructure.
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