Economic fear cramps small business growth
Almost half of small businesses are too cautious to invest in growth due to economic uncertainty, Venture Finance reports.
In a survey of 500 companies, the asset-based lender found 31% of small businesses have no plans to grow and over a quarter are not planning to invest within the next 12 months.
Peter Ewen, managing director at Venture Finance, said: "SMEs need to put their heads above the parapet and start exploring their business and financial options. Now could be the time to put internal, and external, resources to good use to grow their way out of hard times."