The credit environment will be challenging for the foreseeable. Over the next three years, almost half (46 per cent) of SMEs believe accessing credit/finance/borrowing will get more difficult. This level of perceived difficulty rises to 64 per cent for those working in the hospitality, food/drink, retail, and wholesale sectors.
Many hoped for help from the government. But the findings reveal that UK SMEs have been left unsatisfied by the initiatives and plans set out so far. Asked about the reforms recently announced by the government, over half (57 per cent) of SMEs believe these will have zero or a negative impact on their business.