33% of SMEs in the UK urgently require financial support within the next year. Understanding various funding options beyond personal borrowing and traditional bank loans is crucial.
19% of SMEs resort to personal sources like savings, borrowing from friends, or re-mortgaging properties. Secured bank loans and personal borrowing are common but may not suffice.
Late payments are a severe issue affecting 45% of SMEs, disrupting cash flow. Only 2% have used cashflow finance options like invoice finance, suggesting limited awareness and understanding.
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