Assess your options to make funding fit

As we continue to see many businesses forging a path through financially turbulent times, access to finance is now more imperative than ever to maintain steady cashflow and continue to allow growth opportunities.

This may be through more obvious routes such as high street banks, but having a number of alternatives to complement existing funding or generate new streams will ensure businesses are receiving the most appropriate finance for their particular circumstances.

The breadth of experience within finance our commercial team gives us an insight into current market activity. So what are we seeing?

In the financial year 2023 nearly 30 per cent of funded businesses were in the construction and property sector. Given the impact of the pandemic and global supply chains this is a trend across the industry, however maintaining businesses to continue their work in developing across the region has been a key focus.

Manufacturing and industrials, and retail and FMCG were the next highest sectors with funding requirements.

A similar theme comes across with the type of funding, with £30m of funds allocated to invoice finance funding lines.

The lending arena is currently upbeat and positive about their prospects for lending and keen to do more business for the right cases – our job is to match up the most appropriate lender for each of those cases. These lenders might not be a well-known high-street Bank.

Assessing future funding options to be positioned for the best outcome is vital for all business owners.