Business borrowing confidence on the up

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Businesses are five times more confident in their ability to access financial support this year than they were last year, according to a new study of UK business owners.

In 2009 just 8% of privately held business owners were able to get hold of the funds they needed, but this has jumped to 44% in 2010, said auditors Grant Thornton International.

This follows a recent report from the IoD which indicated that nearly 60% of businesses seeking finance in 2009/10 were rejected by their bank, and 20% were financing their business to some extent with credit cards.

Grant Thornton's latest International Business Report questioned 500 privately held business owners across the UK and found that despite increasing confidence in their ability to access finance, firms were less ha...

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