Since the infamous recession hit the industry hard, it has become increasingly difficult for businesses to progress and thrive with the help of other means (usually in the form of finance). This is partly due to the fact banks and many mainstream lenders have almost no appetite to lend their money to small businesses.
Luckily, since the bank referral scheme was implemented by the government we are starting to see progress for SMEs alike. By enabling firms to gain access to growth solutions, we are seeing more progress than ever before in this market; over £1bn lent is the tip of the iceberg. The main benefit of this is that businesses are able to get answers now – rather than being passed from pillar to post.
The introduction of many new, exclusive, and unique lenders to the market has created a plethora of platforms which cater to all shapes and sizes of business – we could say that it has been a blessing in disguise.
from Small business accounts http://ift.tt/1SHO4OM via useful
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