Most SMEs are planning to grow and profits are stable but appetite for finance remains limited and more see uncertainty as a barrier to their business
LONDON, Sept. 19, 2019 /PRNewswire/ -- BVA BDRC (www.bva-bdrc.com) today publishes its quarterly SME Finance Monitor. The largest and most frequent study of its kind in the UK, research findings have been gathered across 33 waves of interviews since 2011 and are based on more than 150,000 interviews with SMEs.
The data to year ending Q2 2019 published today provides further updates on SME sentiment as negotiations over Brexit continued.
Shiona Davies, Director at BVA BDRC, commented:
"We are living through uncertain times and this is being reflected amongst SMEs. They remain profitable, but more see improving profit margins as a priority. An increasing proportion are planning to grow, however there is also an increasing gap between growth achieved and expected. Use of finance has increased, yet appetite for finance and new applications remains limited. Most applications are made to the main bank for loans or overdrafts, and most of those who apply are successful, but there are signs of more SMEs considering self-funding alongside, or instead of, an application for finance. Future appetite for finance remains stable, although an increasing minority of SMEs are looking to reduce their use of external finance."
Note to editors/Methodology
The findings in this release are based on more than 150,000 interviews with SMEs dating from 2011 to Q2 2019, making SME Finance Monitor the largest survey of its kind in the UK. 4,500 SMEs per quarter share their use and future plans to use external finance, as well as their own business performance.
About BVA BDRC
BVA BDRC is an award winning international consumer insight consultancy, conducting research in over 90 countries. The agency, part of Paris-based BVA Group, offers the complete range of research services. We help brands get closer to their customers, improve customer experience and grow the bottom line.