Cautious optimism for UK economy, poll finds

IN: Business news

It appears a number of professionals have a degree of cautious optimism regarding the outlook for the UK economy over the next year.

undefinedResearch carried out by the Association of Investment Companies (AIC) revealed 45 per cent of respondents have a mixed picture of the economy and believe most firms are taking a cautious approach.

A further 45 per cent of VCT managers involved in the study believe the economy will increase in 2013, with just nine per cent claiming it will remain stagnant.

According to the findings, portfolio companies have experienced difficulty in raising bank debt in the past 12 months, despite initiatives like the Funding for Lending Scheme taking effect. 

Managing partner at Mobeus Equity Partners Mark Wignall claimed "the true picture is that high quality SMEs can access bank lending, but average or poor performers can't". 

Some 60 per cent of VCT managers admitted they believe the next 12 months will prove tough for portfolio companies in need of bank financing.

However, small and medium-sized enterprises in need of funding should ensure they are examining all their options and not just looking at high street banks for support.

British business champion Aldermore is committed to helping small firms achieve growth and can deliver tailor-made finance solutions for start-ups hoping to make 2013 their year.

It can be a risky game trying to get a busy off the ground so the last thing an SME needs is for its financing to fall through just as business looks set to boom.

Factoring finance will give your organisation access to funding that your customers owe so you do not suffer the blow of late payments that can have a devastating affect on cashflow.

Aldermore will advance up to 90 per cent of approved invoices and advance against new invoices by the next working day so your company receives more finance than it would from a traditional overdraft.

With that kind of help, there may be little excuse for not progressing in the coming 12 months. 

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