The insurance firm RSA has reported that survival rates are lower than before the financial crisis of 2008, with the construction sector being the hardest hit.
With less liquidity in the mortgage market, house building and purchase had dropped off during the deepest years of the recession and only now are those numbers starting to recover, but this may be too late in the day for many construction firms who haven’t been able to stave of the financial pressures of running a business built during the pre-crisis boom years.
With 61% of business owners saying that they lack confidence in their ability to grow their business with three years of consecutive growth, what are the key factors inhibiting growth in the UK trading environment?
- 44% of business owners state it’s the UK tax system,
- 38% say it is the banks and lending,
- 36% state costs, late payments and cash flow.
If you are considering your cash flow situation want to know if there is a better way to manage your invoice finance, speak to our team at Findmeafactor and find out what solutions are right for your business.