Economy
Over one in five SMEs unable to access external finance, research finds
SMEs also speculate that over the next 12 months, nearly two in five (38%) small businesses will see growth in recruitment (19%), new product development (18%), and new market expansion (17%)
New research commissioned by Manx Financial Group has revealed that more than one in five (22%) small and medium sized enterprises (SMEs) that reportedly needed external finance over the last couple of years were unable to access it, while over a quarter (27%) have had to stop or pause an area of their business because of a lack of finance.
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