11 June 2019
The insurance provider found that 27% of respondents planned to obtain additional finance to acquire new equipment.
Other reasons included supporting a business acquisition (10%), moving premises (9%), research and development (9%) and increasing headcount (7%).
“Cash flow is the life blood of any small business,” said Todd Davison, director at Purbeck.
“But for a whole variety of reasons — not least the current economic uncertainty — an SME business owner may find themselves looking at unpaid customer invoices, bills from suppliers and wage rolls, and wonder where the money is going to come from.
“While many businesses are using finance to keep their business operating, it is heartening to see around the same number are using it to acquire new equipment, suggesting many businesses are flourishing and are possibly looking to expand.”