Nucleus Commercial Finance revealed that 21% of SMEs believed that summer was the most important season for their business.
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Other highlights from the research included:
- 56% of SMEs which thought summer was the most important season planned to access alternative finance to capitalise on the opportunity
- 19% will use the funding to expand across the UK, 17% to increase staff count, 13% to launch new products or services, 12% to move to larger premises, 9% to expand into international markets and 4% to trade internationally for the first time
“Despite a tough economic environment, SMEs still have ambitious plans this summer, with many planning on accessing additional finance,” said Chirag Shah, chief executive at Nucleus Commercial Finance (pictured above).
“SMEs play a vital role in the UK economy and ensuring they have access to finance that can enable their growth is paramount.”