A recent survey carried out by Amicus showed that the demand for alternative finance in Britain is set to soar.
Over the past five years, 42% of small businesses have considered turning to alternative providers for the cash they need to grow. Many of these have used alternative forms of capital to help them to manage cash flow issues. As such, the use of property and asset financing was found to be growing in the UK.
Of the burgeoning companies surveyed, 64% expected the demand for alternative finance to grow. In London, 77% of small business owners expected to an increase in the calls for this type of lending. However, in the West Midlands only 53% believed that the demand will increase.
In April, requests for asset financing were up by 20%. During 2014, British firms raised £1.74bn using alternative finance providers.
The industry has grown rapidly since 2008. When the recession struck, it suddenly became a lot harder for enterprises to secure finance from traditional lenders. Banks tightened up their qualifying criteria and took more time to vet potential borrowers. These changes led to firms looking for other solutions, discovering alternative financial options for the first time.
At DJB, we provide a range of asset financing solutions that are suitable for virtually any business. If you would like more information, please give us a call or get in touch via email. Our experienced team will quickly put together an affordable package that is tailored to your needs.
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