We’ve undertaken a comparative analysis of the reasons why businesses seek finance. To simplify the results we have grouped them into 3 categories and compared 2010 with 2011:
What does it mean? Well it is pretty clear that contrary to what banks say, when they defend their “missing the target with Project Merlin” – businesses want to expand and want to grow. This corresponds with our anecdotal evidence which suggest that the general level of enquiries has not dropped by much. In fairness though we sometimes find that there are still unrealistic expectations by some business owners and entrepreneurs who still seem to expect lending criteria like those in 2007. Well, those days have gone and for good reasons too.
But our message for 2012 is clear: finance for business – whether it is business loans, commercial mortgages, invoice discounting or for property development – is available and can be arranged. If you have a sensible and interesting project then it is worthwhile pursuing your ambition despite what you read and hear: finance for your business is available.