The number of new loans to SME’s is increasing could improving Credit Management help?
The number of new loans to SME’s is increasing could improving Credit Management help?
The Number of new loans to SMEs has increased in the first quarter of 2018
- There were 73,971 new loan approvals to SMEs across the UK in Q1 2018, a slight increase from 72,272 in the first quarter of 2017.
- The number of new loan approvals in the production and manufacturing industries increased to 23,707, up from 22,868 in the same quarter last year.
- Total net deposits in the SME sector amount to £173bn, exceeding outstanding borrowing of £95bn.
There are a number of factors that could contribute to this increase, the recent Carillion incident affected a large supply chain that would have had a domino effect.
An ineffective credit management function can also cause cash flow issues for business which would increase their exposure and need for borrowing.
As a business we exist to help companies on an outsource basis or by training existing workforce. We have a proven track record for reducing debtor days as well as ensuring the whole Credit management process is more streamlined and less likely to fail at the payment stage.
SME’s is where we help best as we can ensure that the costs associated are relative and proportionate to your business. If you would like an informal chat to see who we can help please get in touch.
