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Smaller firms struggling to access credit

Research from the Federation of Small Businesses has revealed that a growing number of small firms are struggling to access credit. Overall, just 60% of small firms that applied for credit were successful in Q2 2018, down from 74% in Q2 2017. In addition, 40% of smaller firms said the availability of new credit is poor, which is the highest level for two years. The research has also indicated that credit is becoming less affordable for smaller firms due to higher interest rates.

Read more about the research at:
https://www.fsb.org.uk/media-centre/press-releases/small-business-credit-approvals-hit-30-month-low-as-rate-decision-looms

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