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Financial worries challenge SMEs

Financial worries challenge SMEs

Category: Business

Updated: 30/04/2013
First Published: 30/04/2013

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Cashflow remains a major concern for small and medium-sized (SMEs) in the UK, according to research by Santander Corporate and Commercial.

Nearly half of SMEs (41%) claimed they were worried about successfully managing their cashflow over the next twelve months, whilst 46% of businesses said they had experienced at least one financial setback recently, such as late payments from customers, poor sales results or unforeseen charges.

Around 17% of SMEs said they were 'very' concerned at their cashflow situation over the forthcoming months.

Despite fewer large businesses expressing concerns about their finances, a growing number said they were utilising cash and asset management solutions as a means to review and manage their finances.

Head of SMEs at Santander Corporate & Commercial, Marcelino Castrillo, said: "Many businesses are missing out on effective alternative financing solutions such as invoice or supply chain finance, or relying excessively on loans and investments.

"In doing so, they are opening themselves up to unnecessary cash flow volatility and business risks."

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