Research suggests SMEs expect to borrow £48 billion post-coronavirus lockdown

Research carried out by banking group Aldermore has suggested that small and medium-sized enterprises (SMEs) in the UK expect to borrow £48.3 billion once the coronavirus (COVID-19) lockdown ends.

17 Jun 2020

Research carried out by banking group Aldermore has suggested that small and medium-sized enterprises (SMEs) in the UK expect to borrow £48.3 billion once the coronavirus (COVID-19) lockdown ends.

Three in five SMEs stated that they expect to borrow £65,000 in the year following the COVID-19 pandemic. The research also revealed that a third of SMEs believe that good communication with their clients will help get their business back on track after the lockdown.

Meanwhile, 25% of SMEs polled said that receiving ongoing government support will be beneficial to their business.

Commenting on the research, Tim Boag, Group Managing Director of Business Finance at Aldermore, said: 'Helping SMEs recover following the pandemic will be crucial to the economic future of the UK. As our research has shown, SME income has been hit hard by COVID-19, with many having borrowed funds in order to survive, and with some expecting to continue to do so in the year ahead.'

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2021 FBD Consultancy, Accounts & Tax Ltd. All rights reserved.

Directors: Brian K. Wright C.A., A.C.M.A., C.G.M.A. Anne N. Wright C.P.F.A. Co. Registration No: SC309527.
Registered Office: Sgarbach House, Binniehill Road, Balloch, Cumbernauld, G68 9AJ. VAT Registration No. 836 5445 10.

We use cookies on this website, you can find more information about cookies here.