Chirag Shah

40% of SMEs expect growth over summer




Two-fifths of SMEs (40%) expect their income to increase over the summer period, according to the latest research.

Nucleus Commercial Finance revealed that 21% of SMEs believed that summer was the most important season for their business.

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.”

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