What do you think is the biggest barrier to setting up a business?
Is it fear of failure?
A lack of opportunity or ideas?
Too much red-tape and regulation?
Well, according to a recent survey by EY, the biggest obstacle according to UK entrepreneurs was having access to finance, with 50% of entrepreneurs claiming that this was the biggest barrier which they faced.
And we are not too surprised to hear that. After all, we wrote about the problem in April. Just try going into your local bank and asking to speak to your bank manager about your finance for your business. You’d be surprised at how difficult that has now become. You’d be lucky if you can get anyone to sit down with you at all, let alone at a convenient time or within the next couple of weeks.
We at ASC Finance for Business know that finance is available. But lenders need to do much much more in order to make is easier for small businesses to access it.